Alerian MLP Index ETN SEC Filings

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable accelerated barrier notes linked to the iShares Bitcoin Trust ETF (IBIT) and maturing on January 4, 2029. The notes may be automatically called on December 31, 2026 if the ETF’s closing price is at or above the Initial Value, paying $1,000 plus a call premium of at least $145 per $1,000 note.

If not called and the ETF ends above the Initial Value on the December 29, 2028 observation date, holders receive $1,000 plus 1.5 times the ETF’s price gain. If the final price is at or below the Initial Value but at or above 60% of it, principal is returned at par. Below the 60% barrier, losses are one-for-one with the ETF decline and can reach 100% of principal.

The notes pay no interest, are unsecured obligations subject to the credit risk of JPMorgan entities, and carry significant volatility and regulatory risks tied to bitcoin and the bitcoin market. If priced on the sample date, the estimated value would be about $914.10 per $1,000 note and will not be less than $900.00 when finalized.

JPMorgan Chase Financial Company LLC is offering $250,000 of auto callable Contingent Interest Notes linked to the Class A common stock of Vertiv Holdings Co, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly contingent coupon of $13.9583 per $1,000 principal (a 16.75% annual rate) only when Vertiv’s closing share price on a review date is at or above 60% of the $161.27 initial value, and any skipped coupons can be paid later if this condition is met.

The notes can be automatically called starting March 12, 2026 if Vertiv’s share price on specified review dates is at least the initial value, returning $1,000 per note plus the applicable coupon and any unpaid coupons. If the notes are not called and Vertiv’s final share price on the June 14, 2027 review date is at least 50% of the initial value, holders receive full principal plus due coupons. If it is below 50%, repayment is reduced in proportion to Vertiv’s loss, so investors can lose more than half, up to all, of their principal.

The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial and expose holders to the credit risk of both the issuer and guarantor. The price to the public is $1,000 per note, including $22.25 of selling commissions, while JPMorgan’s own estimated value at pricing was $946, reflecting embedded fees, structuring and hedging costs. The notes are not listed on an exchange, may be hard to sell, and do not pay dividends on Vertiv stock.

JPMorgan Chase Financial Company LLC is offering $1,400,000 of capped buffered equity notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are scheduled to mature on December 16, 2027 and are issued in minimum denominations of $1,000.

At maturity, investors receive 1.00x any S&P 500® gain up to a maximum return of 24.90%, so the most an investor can receive is $1,249 per $1,000 note. Principal is protected only within a 15.00% downside buffer: if the Index is down 15% or less, investors get back $1,000; below that, they lose 1% of principal for each 1% additional Index decline, up to an 85.00% loss of principal.

The notes pay no interest, do not provide dividends from the Index’s stocks, and are unsecured, unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not bank deposits, are not FDIC insured, will not be listed on an exchange and may be hard to sell. The price to public is $1,000 per note, including $5 in selling commissions, while the estimated value at pricing was $988.70.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing $668,000 of unsecured Uncapped Accelerated Barrier Notes linked to the lesser performance of the SPDR® S&P 500® ETF Trust (SPY) and the Invesco QQQ TrustSM, Series 1 (QQQ), maturing on December 15, 2028.

The notes pay no interest or dividends. At maturity, if both funds finish above their initial prices, holders receive $1,000 plus 1.215 times the lesser fund’s positive return per note. If either fund is at or below its initial level but both stay at or above 70.00% of initial, only principal is repaid. If either closes below 70.00% of initial, repayment is reduced one-for-one with the lesser fund’s loss, up to a total loss of principal.

The price to public is $1,000 per note, including $6 in selling commissions, and the total offering is $668,000. The estimated value at pricing was $980.80 per $1,000 note. The notes are not bank deposits, are not FDIC insured, and all payments are subject to the credit risk of both the issuer and the guarantor.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering long‑dated Callable Range Accrual Notes linked to the 10‑Year Constant Maturity Treasury (CMT) rate. The notes pay a fixed 10.50% per annum during the initial interest periods through December 31, 2026, with monthly interest payments.

After that, interest becomes variable and depends on how often, during each interest period, the 10‑Year CMT rate is at or below 5.00%. For these later periods, the interest rate can range from a minimum of 0.00% to a maximum of 10.50% per annum. The issuer may redeem the notes in whole, but not in part, on the last calendar day of each month starting December 31, 2026, at 100% of principal plus accrued interest.

The estimated value, if the notes priced on the described terms, would be about $945.80 per $1,000 principal amount, and will not be less than $910.00 per $1,000 when finally set. Selling commissions are expected to be approximately $27.50 and will not exceed $50.00 per $1,000 principal. The notes are unsecured obligations, not bank deposits, and are not insured by the FDIC or any government agency.

JPMorgan Chase Financial Company LLC is offering unsecured Uncapped Accelerated Barrier Notes linked to the lesser performing of the Nasdaq-100 Technology Sector Index and the S&P 500 Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about December 12, 2025, settle around December 17, 2025 and mature on December 17, 2029, in minimum denominations of $1,000.

At maturity, if both indexes finish above their initial levels, investors receive $1,000 plus an amplified gain equal to the lesser index return times an upside leverage factor of at least 1.3665. If either index is at or below its initial level but both stay at or above 70% of their initial levels, investors receive only their principal back. If either index closes below 70% of its initial level, repayment is reduced one-for-one with the decline of the lesser performing index, which can lead to a loss of more than 30% and up to all principal.

The notes pay no interest or dividends and are subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. If the notes priced on the reference date described, the estimated value would be approximately $980.60 per $1,000, and the final estimated value at pricing will not be less than $950, reflecting selling commissions, projected hedging profits and hedging costs included in the $1,000 price to the public.

JPMorgan Chase Financial Company LLC is offering structured review notes linked to the MerQube US Large-Cap Vol Advantage Index, featuring an automatic call and full principal-at-risk exposure.

The notes can be automatically called on scheduled Review Dates from December 30, 2026 through December 30, 2030 if the index closes at or above the applicable Call Value, paying $1,000 plus a Call Premium Amount based on a Call Premium Rate of at least 14.00%. If the notes are not called and the final index level is below the 60.00% Barrier Amount, repayment equals $1,000 plus $1,000 times the index return, so investors lose more than 40% of principal and can lose it all. The index itself uses leveraged exposure of 0%–500% to E-mini S&P 500 futures and applies a 6.0% per annum daily deduction, which drags performance versus an identical index without such a fee. The notes are unsecured, unsubordinated obligations of JPMorgan Chase Financial, fully and unconditionally guaranteed by JPMorgan Chase & Co., with an estimated value currently illustrated at about $888 per $1,000 note and not less than $870 per $1,000 note when finalized.

JPMorgan Chase Financial Company LLC is offering Auto Callable Accelerated Barrier Notes due January 3, 2031, linked to the MerQube US Large-Cap Vol Advantage Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are issued in $1,000 minimum denominations at a price to public of $1,000 per note.

The notes may be automatically called as early as December 31, 2026 if the Index is at or above its Initial Value, paying back $1,000 plus a call premium of at least 18.900% on the first Review Date, rising to at least 37.800% by the fifth. If not called and the Index is above its Initial Value at maturity, investors receive 5.00 times the Index gain; if the Index is at or above 50.00% of the Initial Value, principal is returned. If the Index closes below that 50.00% barrier at maturity, losses are one-for-one with the Index decline, up to a total loss of principal. The Index itself is reduced by a 6.0% per annum daily deduction, which drags on performance. The notes pay no interest, provide no dividends, are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., and are not FDIC insured. If priced on the described terms today, the estimated value would be about $888.40 per $1,000 note and will not be less than $870.00 per $1,000 when set.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering approximately 3‑year Trigger Autocallable Contingent Yield Notes linked to the lesser performing of the Russell 2000 Index and the State Street Energy Select Sector SPDR ETF. The notes are issued at $10 per note, with a minimum investment of $1,000, and pay quarterly contingent coupons at a rate of at least 9.15% per annum only when both underlyings are at or above their coupon barriers.

The notes can be automatically called each quarter after an initial six‑month non‑call period if both underlyings are at or above their initial values, returning principal plus the applicable coupon. If held to maturity and both final values are at or above 70% of their initial values (1,786.020 for the Russell 2000 and $31.86 for XLE, based on initial levels of 2,551.457 and $45.51), investors receive full principal plus the final coupon; otherwise, they receive less than principal in proportion to the loss of the weaker underlying.

The notes are unsecured and unsubordinated obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., are not listed on any exchange and may be illiquid. Fees and hedging costs mean the estimated value is lower than the issue price, at approximately $9.617 per $10 note on the terms illustrated, and not less than $9.30, and the tax treatment is complex, with contingent coupons expected to be treated as ordinary income.