JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus on November 6, 2026, disclosing the terms of its 2-year Callable Contingent Interest Notes linked to the common stock of American Airlines Group Inc., with a Pricing Date of November 12, 2026 and a Maturity Date of November 16, 2028.

Key Highlights

  • Reference stock: Common stock of American Airlines Group Inc.
  • Contingent Interest Rate: At least 15.00% per annum, payable quarterly at a rate of at least 3.75% per quarter, if the closing price of the reference stock meets or exceeds the Interest Barrier on a Review Date.
  • Interest Barrier / Trigger Value: 50.00% of the Initial Value, applying to both interest payment eligibility and principal protection at maturity.
  • Estimated value at pricing: Not less than $940.00 per $1,000 principal amount note, which the filing notes "likely will be lower than the price you paid for the notes."
  • Early redemption: The issuer may redeem the notes early, in whole but not in part, on any eligible Interest Payment Date at $1,000 plus any applicable Contingent Interest Payment.
  • Principal at risk: If the Final Value is less than the Trigger Value, the filing states investors "will lose more than 50.00% of your principal amount at maturity and could lose all of your principal amount."
  • CUSIP: 46661Q6R1; Minimum Denomination: $1,000.

Terms and Payment Structure of the AAL-Linked Notes

According to the filing, JPMorgan Chase Financial Company LLC is the issuer of these structured notes, with JPMorgan Chase & Co. serving as guarantor. The notes are described as "2yNC6m AAL Callable Contingent Interest Notes," a product within JPMorgan's North America Structured Investments platform. The notes carry a two-year term from the November 12, 2026 Pricing Date to the November 16, 2028 Maturity Date, with quarterly Review Dates used to determine both interest eligibility and, at maturity, principal repayment outcomes.

The filing discloses that investors will receive a Contingent Interest Payment of at least $37.50 per $1,000 principal amount note for any quarter in which the closing price of one share of American Airlines Group Inc. common stock on the applicable Review Date is greater than or equal to the Interest Barrier, which represents 50.00% of the Initial Value. If the stock closes below that threshold on a Review Date, no interest is paid for that period, though unpaid amounts may accumulate and become payable on a later date when the barrier is met. Any payment on the notes is stated to be subject to the credit risk of both the issuer and guarantor.

The hypothetical payment table included in the filing illustrates outcomes at maturity assuming a 15.00% per annum Contingent Interest Rate. For stock return scenarios ranging from -50.00% to +60.00%, the table shows a maturity payment of $1,037.50 per $1,000 note. At a -60.00% stock return the table shows $400.00, at -80.00% it shows $200.00, and at -100.00% it shows $0.00. The filing explicitly notes this table "does not demonstrate how your interest payments can vary over the term of your notes."

What Was Disclosed

This Free Writing Prospectus sets out the key economic terms, payment mechanics, estimated value, and selected risks for JPMorgan Chase Financial Company LLC's Callable Contingent Interest Notes linked to American Airlines Group Inc. common stock, filed under Registration Statement Nos. 333-293684 and 333-293684-01.