JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus (FWP) fact sheet on October 29, 2026, disclosing terms for a structured note offering linked to the S&P 500 Index and the Dow Jones Industrial Average, with a pricing date of November 13, 2026 and a maturity date of November 16, 2029.

Key Highlights

  • Issuer and guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor.
  • Linked indices: The notes are tied to the S&P 500 Index and the Dow Jones Industrial Average, with returns determined by the lesser performing index.
  • Upside leverage factor: A 1.50x upside leverage factor applies to gains at maturity if neither index triggers an automatic call.
  • Barrier amount: Set at 70.00% of each index's initial value; if breached at the observation date, investors may lose more than 30.00% of principal or all of it.
  • Call premium: At least 13.50% per annum, with the call value set at 100.00% of each index's initial value on the review date of November 19, 2027.
  • 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.
  • CUSIP: 46661QUS2; minimum denomination is $1,000.

Terms and Risk Structure of the SPX/INDU Auto Callable Accelerated Barrier Notes

According to the filing, JPMorgan Chase Financial Company LLC is offering structured notes with a pricing date of November 13, 2026, a review date of November 19, 2027, an observation date of November 13, 2029, and a maturity date of November 16, 2029. The notes carry a minimum denomination of $1,000 and are filed under CUSIP 46661QUS2. The filing notes that JPMorgan Chase & Co. is "currently one of the companies that make up the Indices," a potential conflict of interest the fact sheet identifies under selected risks.

The filing describes three possible payment scenarios at maturity. If neither index has triggered an automatic call and both finish above their initial values, investors receive $1,000 plus the lesser performing index's return multiplied by the 1.50 upside leverage factor. If either index finishes at or below its initial value but both remain at or above the 70.00% barrier amount, investors receive their principal. If either index finishes below the 70.00% barrier amount, payment equals $1,000 plus the lesser performing index's return - meaning investors "will lose more than 30.00% of your principal amount at maturity and could lose all of your principal amount at maturity," as stated in the filing. The notes pay no interest or dividends and carry no voting rights.

The filing also discloses 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. The filing cautions that J.P. Morgan Securities LLC intends, but is not required, to offer to purchase notes in the secondary market, and that hedging or trading 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." All payments are subject to the credit risk of both the issuer and the guarantor.

What Was Disclosed

The FWP fact sheet sets out the terms of a 3-year structured note linked to the S&P 500 Index and Dow Jones Industrial Average, including a 70.00% barrier, a 1.50x leverage factor, an at-least-13.50% annual call premium, and an estimated minimum value of $900.00 per $1,000 note, along with a detailed list of selected risks.