JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus on November 6, 2026, disclosing summary terms for 3-Year Worst-of RTY/SPX/SX5E Contingent Income Auto-Callable Securities with an expected pricing date of November 9, 2026.

Key Highlights

  • Issuer and guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor of any payments on the securities.
  • Underlying indices: The securities are linked to the Russell 2000 Index (RTY), S&P 500 Index (SPX), and EURO STOXX 50 Index (SX5E), with payouts determined by the worst-performing index.
  • Contingent quarterly payment: At least $27.50 per security (at least 2.75% of stated principal amount) per quarter, payable only if each underlying index closes at or above 75% of its initial index value on every day of the relevant monitoring period.
  • Downside threshold: Set at 65% of each index's initial index value; if any index finishes below this level at maturity, principal repayment equals the stated principal amount multiplied by the index performance factor of the worst-performing index, and "could be zero."
  • Estimated value floor: The estimated value of the securities on the pricing date will not be less than $940.00 per $1,000 stated principal amount security, according to the filing.
  • Maturity date: November 15, 2029, with 12 scheduled determination dates beginning February 9, 2027.
  • CUSIP / ISIN: 46661Q6T7 / US46661Q6T78, with a stated principal amount and issue price of $1,000 per security.

Structure and Payment Mechanics of the Auto-Callable Securities

According to the filing, the securities may be automatically redeemed early if, on any determination date other than the final one, the closing level of each underlying index is greater than or equal to its initial index value. In that case, the filing states, investors receive an early redemption payment equal to the stated principal amount plus any contingent quarterly payment otherwise due for that period. If any index closes below its initial index value on a determination date, no early redemption occurs.

The contingent quarterly payment mechanism, as described in the filing, requires all three indices to remain at or above their respective coupon barrier levels, set at 75% of each index's initial value, on every single day of the relevant quarterly monitoring period. The filing explicitly notes that "it is possible that the closing level of one or more of the underlying indices will be below their respective coupon barrier levels on at least one day during most or all of the quarterly monitoring periods so that you will receive few or no contingent quarterly payments."

At maturity, the filing discloses a bifurcated outcome. If each index's final value is at or above 65% of its initial index value, investors receive the stated principal amount plus any final contingent payment, if applicable. If any index finishes below that 65% downside threshold, the payment equals the stated principal amount multiplied by the index performance factor of the worst-performing index, which the filing states "will be less than 65% of the stated principal amount of the securities and could be zero." The filing also notes that investors "will not participate in any appreciation of any underlying index" and that the securities are subject to the credit risks of both JPMorgan Financial and JPMorgan Chase & Co.

What Was Disclosed

JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus under Rule 433 disclosing summary terms, payout structure, barrier levels, determination dates, and risk factors for 3-Year Worst-of RTY/SPX/SX5E Contingent Income Auto-Callable Securities priced at $1,000 per security.