JPMorgan Chase Financial Company LLC filed a free writing prospectus (FWP) fact sheet on November 9, 2026, disclosing terms for Market Linked Securities auto-callable with leveraged upside participation and contingent downside, linked to the lowest performing of the S&P 500 Index and the Dow Jones Industrial Average, due November 16, 2029.

Key Highlights

  • Principal amount: $1,000 per security (100% of par), with CUSIP 46661Q2F1.
  • Call premium: At least 11.25% of principal amount if automatically called on the call date of November 18, 2027.
  • Upside participation rate: 125.00% applied to the index return of the lowest performing Index if held to maturity and that index finishes above its starting level.
  • Threshold level: 75% of each index's starting level; if the ending level of the lowest performing Index falls below this threshold at maturity, investors face full downside exposure and "will lose more than 25%, and possibly all, of the principal amount."
  • Estimated value: Approximately $954.60 per security if priced on the date of the preliminary pricing supplement; will not be less than $920.00 per security when final terms are set.
  • Fees and commissions: Up to 2.575% for Wells Fargo Securities, LLC, with dealers including Wells Fargo Advisors potentially receiving a selling concession of 2.00% and a distribution expense fee of 0.075%.
  • Guarantor: JPMorgan Chase & Co. fully and unconditionally guarantees payment obligations of the issuer, JPMorgan Chase Financial Company LLC.

Terms and Risk Structure of the Auto-Callable Securities Linked to the Lowest Performing Index

According to the filing, the securities are issued by JPMorgan Chase Financial Company LLC and fully and unconditionally guaranteed by JPMorgan Chase & Co. The pricing date is November 13, 2026, the issue date is November 18, 2026, and the stated maturity date is November 16, 2029. The final calculation day is November 13, 2029. All these dates are described as subject to change, with the final calculation day and maturity date also subject to postponement. The calculation agent is identified as J.P. Morgan Securities LLC.

The filing discloses an automatic call feature: if the closing level of the lowest performing Index on the call date (November 18, 2027) is greater than or equal to its starting level, the securities are automatically called and investors receive the principal amount plus the call premium of at least 11.25%. The filing notes that "if the securities are automatically called, the positive return on the securities will be limited to the call premium, even if the closing level of the lowest performing Index on the call date significantly exceeds its starting level." If not called, and the lowest performing Index finishes above its starting level at the final calculation day, investors receive $1,000 plus $1,000 multiplied by the index return and the 125.00% upside participation rate.

The filing identifies a contingent downside risk: if the ending level of the lowest performing Index is below its threshold level (75% of its starting level) on the final calculation day, investors bear full downside exposure from the starting level. The securities are described as "unsecured and unsubordinated obligations" of JPMorgan Chase Financial Company LLC, subject to its credit risk and that of JPMorgan Chase & Co. The filing also states the securities "are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank." The filing notes tax consequences are uncertain and may be adverse.

What Was Disclosed

The fact sheet, filed November 9, 2026 under Rule 433, sets out key preliminary terms for auto-callable structured notes linked to the S&P 500 Index and the Dow Jones Industrial Average, including call premium, participation rate, threshold level, estimated value, and applicable fees, with final terms to be provided in a subsequent pricing supplement.