JPMorgan Chase Financial Company LLC filed a free writing prospectus (FWP) on November 13, 2026, disclosing terms for callable contingent interest notes linked to the S&P 500 Index, Nasdaq-100 Index, and iShares Russell 2000 ETF, with a pricing date of November 24, 2026, and a maturity date of November 29, 2029.

Key Highlights

  • Issuer and Guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor of the notes.
  • Contingent Interest Rate: At least 10.00% per annum, payable quarterly at a rate of at least 2.50% per quarter, if applicable.
  • Interest Barrier: Set at 70.00% of the Initial Value of each of the three underlyings.
  • Minimum Denomination: $1,000 per note, with an estimated value of not less than $900.00 per $1,000 principal amount note when terms are set.
  • Principal Risk: If 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," according to the filing.
  • Early Redemption: The issuer may redeem the notes early, in whole but not in part, on any quarterly Interest Payment Date (other than the first and final), at $1,000 plus any applicable Contingent Interest Payment.
  • CUSIP: 46661QDD4, with review dates occurring quarterly through the Final Review Date of November 26, 2029.

Terms and Risk Structure of the JPMorgan SPX/NDX/IWM Contingent Interest Notes

According to the filing, the notes are structured as three-year callable instruments with quarterly review dates. The contingent interest mechanism pays at least $25.00 per $1,000 principal amount note per quarter - equivalent to at least 10.00% per annum - only if the closing value of each underlying on the applicable Review Date is greater than or equal to its Interest Barrier, which the filing defines as 70.00% of each underlying's Initial Value. If any underlying closes below its Interest Barrier on a given Review Date, no interest is paid for that period.

The filing discloses that payment at maturity depends on the performance of the least performing underlying. If all underlyings finish at or above their Trigger Values on the Final Review Date of November 26, 2029, investors receive $1,000 plus the final Contingent Interest Payment. If any underlying finishes below its Trigger Value, the repayment is calculated as $1,000 plus ($1,000 multiplied by the Least Performing Underlying Return), exposing investors to losses proportional to that underlying's decline. The filing notes that investors "could lose all of your principal amount at maturity."

The filing also identifies several selected risks, including that the appreciation potential is limited to Contingent Interest Payments, that the optional early redemption feature may force an early exit at the issuer's election, that J.P. Morgan Securities LLC intends but is not required to offer a secondary market, and that hedging activities by 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." Any payment on the notes is subject to the credit risk of both the issuer and the guarantor, the filing states.

What Was Disclosed

JPMorgan Chase Financial Company LLC filed a free writing prospectus summarizing terms for callable contingent interest notes linked to three underlyings, with a pricing date of November 24, 2026, maturity on November 29, 2029, a minimum denomination of $1,000, CUSIP 46661QDD4, and an estimated value of at least $900.00 per $1,000 note.