JPMorgan Chase Financial Company LLC filed a free writing prospectus on November 3, 2026, disclosing the preliminary terms of 4-year Buffered Return Enhanced Notes linked to the Dow Jones Industrial Average, the Russell 2000 Index, and the S&P 500 Index, with a pricing date of November 25, 2026, and a maturity date of November 29, 2030.

Key Highlights

  • Issuer and Guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor of the notes.
  • Upside Leverage Factor: At least 1.50, applied to the return of the least performing underlying at maturity.
  • Buffer Amount: 10.00%, meaning investors retain principal if no underlying declines more than 10.00% from its 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, with CUSIP 46661QJ71.
  • Principal at Risk: According to the filing, if any underlying declines by more than 10.00%, investors could lose up to $900 for each $1,000 note.
  • No Periodic Payments: The notes carry no interest payments, dividend payments, or voting rights.

Preliminary Terms of JPMorgan's Three-Index Buffered Enhanced Notes Due 2030

According to the filing, JPMorgan Chase Financial Company LLC is offering Buffered Return Enhanced Notes with a four-year term, tied to three equity indexes: the Dow Jones Industrial Average, the Russell 2000 Index, and the S&P 500 Index. The pricing date is set for November 25, 2026, with the observation date and maturity falling on November 25, 2030, and November 29, 2030, respectively. The notes are issued under registration statement numbers 333-293684 and 333-293684-01.

The filing discloses that payment at maturity depends on the least performing underlying. If all three indexes finish above their initial values, investors receive $1,000 plus $1,000 multiplied by the least performing underlying return multiplied by the upside leverage factor of at least 1.50. The filing illustrates that a 100% underlying return would produce a $2,500 payment per $1,000 note, assuming a leverage factor of 1.50. If the least performing underlying falls by more than the 10.00% buffer, investors receive $1,000 plus $1,000 multiplied by the sum of the least performing underlying return and the buffer amount, meaning losses begin beyond the buffer threshold and could be substantial.

The filing identifies several selected risks. Any payment is subject to the credit risk of both the issuer and guarantor. The filing notes that JPMorgan Chase & Co. is currently a component of both the S&P 500 Index and the Dow Jones Industrial Average, creating a potential conflict. The filing also states that the estimated value will be lower than the original issue price and is determined by reference to an internal funding rate. Secondary market liquidity is not guaranteed: J.P. Morgan Securities LLC intends to offer to purchase notes in the secondary market but is not required to do so.

What Was Disclosed

JPMorgan Chase Financial Company LLC filed a free writing prospectus outlining preliminary terms for 4-year structured notes linked to three equity indexes, including the leverage factor, buffer mechanics, estimated value floor of $900.00 per $1,000 note, and associated risks including principal loss and credit exposure.