JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus dated November 4, 2026, describing the summary terms of 5-Year Worst-of TPX/SPX/RTY Contingent Income Callable Securities with a 6-Month Initial Non-Call Period, with a pricing date expected to be November 13, 2026.

Key Highlights

  • Issuer and guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor of the securities.
  • Underlying indices: The securities are linked to three indices: the TOPIX Index (TPX), the S&P 500 Index (SPX), and the Russell 2000 Index (RTY).
  • Contingent quarterly payment: At least $27.625 (at least 2.7625% of the stated principal amount) per security per quarterly monitoring period, payable only if each underlying index closes at or above its coupon barrier level on every day during that period.
  • Coupon barrier and downside threshold: The coupon barrier level is 75% and the downside threshold level is 65% of each index's initial index value.
  • Principal at risk: If the final index value of any underlying index is below its downside threshold level, the payment at maturity equals the stated principal amount multiplied by the index performance factor of the worst performing index, and "could be zero."
  • Estimated value: The estimated value of the securities on the pricing date will not be less than $910.00 per $1,000 stated principal amount security, as disclosed in the filing.
  • Maturity date: November 18, 2031, with CUSIP 46661Q4B8 and ISIN US46661Q4B88.

Terms and Structure of the JPMorgan Worst-of Callable Securities

According to the filing, the securities carry a stated principal amount and issue price of $1,000 per security. The original issue date is expected to be three business days after the November 13, 2026 pricing date. The maturity date is November 18, 2031, making these 5-year instruments. The filing identifies 20 determination dates running from February 16, 2027 through November 13, 2031, with corresponding contingent payment dates ending at the maturity date.

The filing discloses that contingent quarterly payments are conditional: if the closing level of any one of the three underlying indices falls below its coupon barrier level on any single day during a quarterly monitoring period, no payment is made for that period. The filing states: "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." The worst-of structure means investors bear price risk across all three indices simultaneously.

The filing also discloses that the issuer, at its discretion, may redeem the securities early on any contingent payment date other than the first and final, by delivering notice to DTC at least three business days before the applicable date. The early redemption payment equals the stated principal amount plus any contingent quarterly payment otherwise due for that period. The filing further notes that the estimated value of the securities will be lower than the original issue price, and that any payment is subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The filing states that "as a finance subsidiary, JPMorgan Financial has no independent activities and has limited assets."

What Was Disclosed

JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus under Rule 433, Registration Statement Nos. 333-293684 and 333-293684-01, summarizing the terms of linked callable securities tied to the TPX, SPX, and RTY indices, with pricing expected November 13, 2026 and maturity November 18, 2031.