JPMorgan Chase Financial Company LLC filed a free writing prospectus on November 9, 2026, disclosing the preliminary terms of 3-year non-call 6-month auto callable contingent interest notes linked to the Nasdaq-100 Index, Russell 2000 Index, and S&P 500 Index, with a pricing date of November 30, 2026.

Key Highlights

  • Three underlyings: The notes are linked to the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index, with returns determined by the least performing underlying at maturity.
  • Contingent interest rate: At least 10.00% per annum, paid monthly at a rate of at least 0.83333% (at least $8.3333 per $1,000 note per month), if each underlying closes at or above its 70.00% interest barrier on the applicable interest review date.
  • Interest and trigger barrier: Set at 70.00% of each underlying's initial value, applying to both monthly interest payments and the principal protection test at maturity.
  • Autocall feature: Notes are called quarterly (after an initial six-month non-call period) if each underlying closes at or above its initial value on the applicable autocall review date.
  • Estimated value: Will be not less than $900.00 per $1,000 principal amount note when terms are set, which the filing notes "likely will be lower than the price you paid for the notes."
  • Principal at risk: If the notes are not called and any underlying's final value is below its trigger value, the payment at maturity reflects the least performing underlying's return, and the filing states investors "could lose all of your principal amount at maturity."
  • CUSIP: 46661QC29; maturity date December 5, 2029.

Terms and Structure of the JPMorgan Auto Callable Contingent Interest Notes

According to the filing, the notes are issued by JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co. The minimum denomination is $1,000, with a pricing date of November 30, 2026, a final review date of November 30, 2029, and a maturity date of December 5, 2029. The filing was submitted pursuant to Rule 433 under registration statement nos. 333-293684 and 333-293684-01.

The filing discloses that if, on any monthly interest review date, the closing value of each underlying is greater than or equal to its interest barrier (70.00% of its initial value), the holder receives a contingent interest payment of at least $8.3333 per $1,000 note. If the notes reach an autocall review date and each underlying closes at or above its initial value, the notes are automatically called and the holder receives $1,000 plus the applicable contingent interest payment. No further payments are made after an automatic call, according to the filing.

At maturity, if the notes have not been called and each underlying's final value is at or above its trigger value, the holder receives $1,000 plus the final contingent interest payment. However, the filing states that if the final value of any underlying falls below its trigger value, the payment at maturity equals $1,000 plus ($1,000 multiplied by the least performing underlying return), meaning a loss of more than 30.00% of principal is possible. The filing identifies multiple selected risks, including that the notes carry the credit risk of both the issuer and guarantor, offer no dividend payments or voting rights, and may have limited secondary market liquidity, as J.P. Morgan Securities LLC "intends to offer to purchase the notes in the secondary market but is not required to do so."

What Was Disclosed

JPMorgan Chase Financial Company LLC disclosed the preliminary terms of auto callable contingent interest notes linked to three equity indexes, including the contingent interest rate, barrier levels, autocall mechanics, estimated value floor, principal loss scenarios, and selected risk factors associated with the offering.