JPMorgan Chase Financial Company LLC filed a free writing prospectus on October 30, 2026, disclosing terms for its 2-year callable contingent interest notes linked to the common stock of American Airlines Group Inc., with a maturity date of November 2, 2028.

Key Highlights

  • Reference Stock: The notes are linked to the common stock of American Airlines Group Inc.
  • Contingent Interest Rate: At least 14.75% per annum, payable monthly at a rate of at least 1.22917%, if applicable.
  • Interest Barrier / Trigger Value: Set at 50.00% of the Initial Value; investors could lose more than 50.00% of principal at maturity if the Final Value falls below the Trigger Value.
  • Estimated Value: The estimated value of the notes, when terms are set, will not be less than $940.00 per $1,000 principal amount note.
  • Minimum Denomination: $1,000 per note, with CUSIP 46661QG25.
  • Early Redemption: JPMorgan Chase Financial Company LLC may redeem the notes early, in whole but not in part, on eligible Interest Payment Dates at its election.
  • Final Review Date: October 30, 2028, with maturity on November 2, 2028.

Terms and Structure of the American Airlines-Linked Notes

According to the filing, JPMorgan Chase Financial Company LLC is the issuer and JPMorgan Chase & Co. serves as guarantor of the notes. The notes are structured as callable contingent interest instruments with a pricing date of October 30, 2026, and a maturity date of November 2, 2028. The filing identifies review dates as occurring monthly, with contingent interest of at least $12.2917 per $1,000 principal amount note paid on each applicable Interest Payment Date when the closing price of one share of the reference stock meets or exceeds the Interest Barrier.

The filing discloses that if the notes are not redeemed early and the Final Value is greater than or equal to the Trigger Value, investors receive $1,000 plus any applicable contingent interest payments at maturity. However, the filing states that "if the notes have not been redeemed early and the Final Value is less than the Trigger Value, you will lose more than 50.00% of your principal amount at maturity and could lose all of your principal amount at maturity." In that scenario, the payment per $1,000 note is calculated as $1,000 plus ($1,000 multiplied by the Stock Return).

The filing lists several selected risks, including that the notes do not guarantee any return of principal, do not guarantee interest payments, and are subject to the credit risk of both the issuer and the guarantor. The filing further notes that the estimated value of the notes will be lower than the original issue price, that liquidity in the secondary market is not guaranteed, and that potential conflicts of interest exist because J.P. Morgan and its affiliates act as calculation agent and hedge their obligations under the notes. The filing was made pursuant to Rule 433, under Registration Statement Nos. 333-293684 and 333-293684-01.

What Was Disclosed

JPMorgan Chase Financial Company LLC disclosed the terms of its 2-year callable contingent interest notes tied to American Airlines Group Inc. common stock, including a contingent interest rate of at least 14.75% per annum, a 50.00% trigger value, an estimated note value of at least $940.00 per $1,000, and key risks including potential total loss of principal.