JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus on November 9, 2026, disclosing the preliminary terms of two-year, non-callable-for-six-months Auto Callable Contingent Interest Notes linked to the Nasdaq-100, Russell 2000, and S&P 500 indexes, with a pricing date of November 24, 2026.

Key Highlights

  • Issuer and Guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor.
  • Contingent Interest Rate: At least 8.15% per annum, paid monthly at a rate of at least 0.67917% (at least $6.7917 per $1,000 note per month), if applicable.
  • Interest and Autocall Barrier: The interest barrier is 70.00% of each underlying's initial value; autocall triggers if each underlying closes at or above its initial value on any quarterly autocall review date.
  • Maturity and Term: Pricing date is November 24, 2026; maturity date is November 29, 2028, with a final review date of November 24, 2028.
  • Estimated Value: The estimated value of the notes, when terms are set, will not be less than $900.00 per $1,000 principal amount note.
  • Principal Risk: According to the filing, if the notes have not been automatically called and the final value of any underlying is less than 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."
  • CUSIP: 46661QC52.

Terms and Structure of the NDX/RTY/SPX Auto-Callable Notes

According to the filing, the notes are issued under Registration Statement Nos. 333-293684 and 333-293684-01, pursuant to Rule 433. The minimum denomination is $1,000, and the three underlyings are the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index. Interest review dates are monthly, while autocall review dates occur quarterly after an initial six-month non-call period. If, on any autocall review date, the closing value of each underlying is greater than or equal to its initial value, the notes are automatically called and the holder receives $1,000 plus the applicable contingent interest payment for that period.

The contingent interest payment is only made if, on any interest review date, the closing value of each underlying is at or above 70.00% of its initial value. The filing presents a hypothetical payment table showing that at a least-performing underlying return of -30.00%, the payment at maturity would be $1,006.7917 per $1,000 note, but at -30.01% the payment drops to $699.9000, and at -100.00% the payment would be $0.0000. The filing notes that the table "does not demonstrate how your interest payments can vary over the term of your notes."

The filing discloses several selected risks, including that the appreciation potential of the notes is limited to the sum of any contingent interest payments, that JPMS intends but is not required to offer a secondary market, and that "it is possible that such hedging or other trading activities of J.P. Morgan or its affiliates could result in substantial returns for J.P. Morgan and its affiliates while the value of the notes declines." The filing also notes that the estimated value is determined by reference to an internal funding rate and will be lower than the original issue price. The filing further discloses that JPMorgan Chase & Co. is currently one of the companies comprising the S&P 500 Index.

What Was Disclosed

The Free Writing Prospectus disclosed preliminary terms for two-year auto-callable contingent interest notes linked to three U.S. equity indexes, including the contingent interest rate, barrier levels, estimated value, maturity structure, and selected risk factors associated with the offering.