JPMorgan Chase Financial Company LLC filed a free writing prospectus (FWP) on November 5, 2026, disclosing the terms of auto callable accelerated barrier notes linked to the Nasdaq-100 Technology Sector Index and the Russell 2000 Index, with a pricing date of November 25, 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.
  • Upside leverage: An Upside Leverage Factor of 2.25 applies to the payment at maturity if both indices finish above their initial values.
  • Barrier level: Each index carries a Barrier Amount set at 70.00% of its Initial Value; breach of the barrier by either index exposes investors to full downside loss.
  • Automatic call premiums: At least 12.75% at the first Review Date and at least 25.50% at the second Review Date (per $1,000 principal amount note), with the Call Value set at 100.00% of each index's Initial Value.
  • 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.
  • Minimum denomination: $1,000 per note; CUSIP 46661Q3A1.
  • Principal risk: According to the filing, investors "may lose a significant portion or all of your principal at maturity."

Terms and Structure of the NDXT/RTY Auto Callable Barrier Notes

According to the filing, the notes are structured products issued by JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co. The notes are linked to two indices: the Nasdaq-100 Technology Sector Index and the Russell 2000 Index. The pricing date is November 25, 2026, the Final Review Date is November 26, 2029, and the maturity date is November 29, 2029. The notes carry a minimum denomination of $1,000 and are identified by CUSIP 46661Q3A1.

The filing describes an automatic call mechanism: if the closing level of each index on any Review Date other than the Final Review Date is greater than or equal to its Call Value (100.00% of the Initial Value), the notes are called and investors receive $1,000 plus the applicable Call Premium Amount. The filing notes that upon an automatic call, the Upside Leverage Factor does not apply, and "the payment upon an automatic call may be significantly less than the payment at maturity for the same level of appreciation in the Lesser Performing Index." If not called and both indices finish above their initial values, the payment at maturity is calculated as $1,000 plus ($1,000 times the Lesser Performing Index Return times 2.25). If either index breaches its 70.00% Barrier Amount, the investor bears full proportional losses, up to 100% of principal.

The filing identifies several selected risks, including credit risk of both the issuer and guarantor, limited secondary-market liquidity, potential conflicts of interest arising from J.P. Morgan's role as calculation agent and hedger, and the note's exposure to technology-sector and small-capitalization stock risks. The filing also states that the estimated value of the notes "will be lower than the original issue price (price to public)" and is "determined by reference to an internal funding rate."

What Was Disclosed

JPMorgan Chase Financial Company LLC filed a free writing prospectus summarizing the terms of 3-year auto callable accelerated barrier notes linked to the Nasdaq-100 Technology Sector Index and the Russell 2000 Index, including call premiums, barrier levels, leverage, estimated value, and associated risk factors.