JPMorgan Chase Financial Company LLC filed a free writing prospectus (FWP) on November 4, 2026, disclosing terms for Auto Callable Contingent Interest Notes linked to three equity indexes, with a pricing date of November 13, 2026, and a maturity date of May 17, 2029.

Key Highlights

  • Issuer and Guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor.
  • Underlyings: The notes are linked to the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index.
  • Contingent Interest Rate: Between 9.25% and 11.25% per annum, paid monthly at a rate of between 0.77083% and 0.9375%, if the closing value of each underlying on a Review Date is at or above its Interest Barrier.
  • Interest Barrier: 70.00% of each underlying's Initial Value.
  • Estimated Value: Will not be less than $900.00 per $1,000 principal amount note when terms are set, according to the filing.
  • Principal Risk: If the notes are not called and the Final Value of any underlying is below its Trigger Value, investors "will lose more than 30.00% of your principal amount at maturity and could lose all of your principal amount at maturity," as the filing states.
  • CUSIP: 46661QL29; minimum denomination is $1,000.

Structure and Key Terms of the JPMorgan Contingent Interest Notes Due May 2029

According to the filing, the notes carry a term of approximately 2.5 years, with a Pricing Date of November 13, 2026, and a Final Review Date of May 14, 2029, followed by a Maturity Date of May 17, 2029. Review Dates occur monthly. The notes can be automatically called on any Review Date other than the first, second, third, fourth, fifth, and final Review Dates if the closing value of each of the three underlyings is greater than or equal to its Initial Value. Upon an automatic call, holders would receive $1,000 plus the applicable Contingent Interest Payment per $1,000 principal amount note, with no further payments made thereafter, the filing states.

The filing discloses that contingent interest is not guaranteed. Interest is paid only if the closing value of each underlying on a given Review Date is at or above 70.00% of its Initial Value. At maturity, if the notes have not been called and all underlyings close at or above their Trigger Values, holders receive $1,000 plus the final Contingent Interest Payment. If any underlying closes below its Trigger Value at maturity, the payment is calculated as $1,000 plus ($1,000 multiplied by the Least Performing Underlying Return), exposing holders to full downside of the worst-performing index from that point.

The filing identifies several risks, including that the estimated value of the notes will be lower than the original issue price, that J.P. Morgan Securities LLC is not required to purchase notes in any secondary market, and that potential conflicts of interest exist because J.P. Morgan and its affiliates act as calculation agent and hedge obligations under the notes. The filing also notes that JPMorgan Chase & Co. is currently one of the companies that make up the S&P 500 Index, and that JPMorgan Chase Financial Company LLC "has no independent operations and has limited assets."

What Was Disclosed

The FWP summarizes terms for structured notes issued by JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., linked to three equity indexes, with a contingent interest rate range of 9.25% to 11.25% per annum, an estimated value floor of $900.00 per $1,000 note, and full principal loss possible at maturity.