JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus on November 9, 2026, describing the preliminary terms of 1-Year META Contingent Income Auto-Callable Securities with a Memory Coupon Feature, linked to the Class A common stock of Meta Platforms, Inc., with a pricing date expected to be November 13, 2026.

Key Highlights

  • Underlying stock: Class A common stock of Meta Platforms, Inc. (Bloomberg ticker: META UW Equity)
  • Stated principal and issue price: $1,000 per security
  • Contingent quarterly payment: At least $27.75 (at least 2.775% of the stated principal amount) per security, payable only if the closing price of the underlying stock is greater than or equal to the downside threshold level on the relevant determination date
  • Downside threshold level: 60% of the initial stock price; if the final stock price falls below this level, payment at maturity equals the stated principal amount multiplied by the stock performance factor, which the filing states "could be zero"
  • Maturity date: November 18, 2027, with determination dates on February 16, 2027, May 13, 2027, August 13, 2027, and November 15, 2027
  • Estimated value: Will not be less than $950.00 per $1,000 stated principal amount security on the pricing date, as disclosed in the filing
  • Guarantor: JPMorgan Chase & Co. guarantees payments, with investors subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

Terms and Structure of the META Contingent Income Securities

According to the filing, JPMorgan Chase Financial Company LLC is the issuer of these structured securities, with JPMorgan Chase & Co. serving as guarantor. The securities are linked to the closing price of Meta Platforms, Inc. Class A common stock and carry a 1-year term. The original issue date is expected to be three business days after the pricing date, which is expected to be November 13, 2026. The CUSIP is 46661Q5V3 and the ISIN is US46661Q5V34.

The filing describes an auto-callable feature: if, on any determination date other than the final determination date, the closing price of the underlying stock is greater than or equal to the initial stock price, the securities will be automatically redeemed. The early redemption payment equals the stated principal amount plus the contingent quarterly payment for that period plus any previously unpaid contingent quarterly payments. A memory coupon feature means that any skipped contingent quarterly payment may be recovered on a later date if the closing price meets or exceeds the downside threshold level on the relevant determination date, though the filing notes no additional interest accrues on unpaid amounts.

The filing discloses that if the final stock price is below the downside threshold level of 60% of the initial stock price, the payment at maturity will be "less than 60% of the stated principal amount of the securities and could be zero." The filing also states that the estimated value of the securities "will be lower than the original issue price" and that "secondary market prices of the securities will likely be lower than the original issue price." As a finance subsidiary, the filing notes, "JPMorgan Financial has no independent activities and has limited assets."

What Was Disclosed

JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus outlining the preliminary terms of 1-year auto-callable structured securities linked to Meta Platforms stock, including coupon conditions, downside threshold, maturity date, and risk factors related to principal loss and credit exposure.