JPMorgan Chase Financial Company LLC priced $650,000 of auto-callable contingent-interest notes linked to the MerQube US Large-Cap Vol Advantage Index. Investors can receive $15.00 per $1,000 note when the index clears its barrier, but the notes carry the risk of losing significant principal and are not bank deposits.

Key Highlights

  • The notes’ aggregate proceeds to JPMorgan Chase Financial Company LLC are $644,150 after $5,850 in fees and commissions.
  • The MerQube index used for the notes deducts 6.0% per annum, accrued daily.
  • The trigger value is set at 50.00% of the index’s initial value, or 2,200.915.

JPMorgan Chase & Co, a diversified bank, is guaranteeing $650,000 of structured notes issued by its wholly owned subsidiary. JPMorgan Chase Financial Company LLC set the pricing on September 22, 2026, with settlement expected on or about September 25, 2026.

$650,000 Notes Carry Conditional Monthly Payments

Each $1,000 note can pay $15.00 on an applicable interest payment date when the index closes at or above 70.00% of its initial value. That threshold is 3,081.281, while the stated contingent Interest Rate is 18.00% per annum, paid at 1.50% per month. No contingent interest payment is made for a review date when the index finishes below the barrier, and payment also depends on the notes not having been automatically called. The notes are automatically callable if the index is at or above its initial value on a quarterly review date, with the earliest possible call date on March 22, 2027.

Estimated Value Sits Below Original Issue Price

The public price is $1,000 per note, with $9 in fees and commissions, leaving $991 per note as proceeds to the issuer. Across the offering, the figures are $650,000 in public price, $5,850 in fees and commissions and $644,150 in issuer proceeds. The estimated value when terms were set was $922.80 per $1,000 note, below the public price. The level of the Index also reflects a daily accrued deduction of 6.0% per annum, and the 50.00% trigger value is 2,200.915.