JPMorgan Chase Financial Company LLC filed a 424B2 pricing supplement on July 30, 2026, disclosing the terms of $850,000 in Auto Callable Contingent Interest Notes linked to the least performing of three major U.S. Equity indexes, with a stated Maturity of August 3, 2032.

Key Highlights

  • Total offering size: $850,000 in notes, priced at $1,000 per note with fees and commissions of $6.00 per note, yielding proceeds to issuer of $844,900.
  • Contingent Interest Rate : 9.50% per annum, payable quarterly at 2.375% per quarter, or $23.75 per $1,000 principal amount per Review Date, subject to each index closing at or above its Interest Barrier.
  • Interest Barrier: 75.00% of each Index's Strike Value, equal to 38,695.605 for the Dow Jones Industrial Average , 2,179.7325 for the Russell 2000 Index , and 5,487.1125 for the S&P 500 Index.
  • Earliest automatic call date: July 29, 2027, with the notes callable on any qualifying Review Date other than the first, second, third, and final Review Dates.
  • Estimated value at pricing: $961.80 per $1,000 principal amount note, according to the filing.
  • Principal risk: According to the filing, if the notes are not called and any Index's Final Value falls below its Trigger Value at maturity, investors "will lose more than 25.00% of your principal amount at maturity and could lose all of your principal amount at maturity."
  • CUSIP: 46661K3X4; expected settlement on or about August 4, 2026.

Structure and Terms of the JPMorgan Contingent Interest Notes

According to the pricing supplement, JPMorgan Chase Financial Company LLC, described as "a direct, wholly owned finance Subsidiary of JPMorgan Chase & Co.," is the issuer of these notes, with JPMorgan Chase & Co. acting as guarantor. The notes are linked to the ticker VYLD and are structured so that payments depend on the individual performance of each of the three indexes, not a composite basket. The filing states that the Strike Values were determined by reference to closing levels on July 29, 2026, which the document specifically notes "is not the closing level of that Index on the Pricing Date." Strike Values were recorded as 51,594.14 for the Dow Jones Industrial Average, 2,906.310 for the Russell 2000 Index, and 7,316.15 for the S&P 500 Index.

The filing outlines 24 Review Dates running from October 29, 2026 through July 29, 2032. On each Review Date, all three indexes must close at or above their respective Interest Barriers for a Contingent Interest Payment to be made. If any single index falls below its Interest Barrier on a given Review Date, no interest payment is made for that period. The automatic call feature activates if all three indexes close at or above their Strike Values on an eligible Review Date, returning $1,000 principal plus the applicable Contingent Interest Payment. The filing notes that these dates are "subject to postponement in the event of a market disruption event."

At maturity, if the notes have not been called and all indexes finish at or above their Trigger Values, holders receive $1,000 plus the final Contingent Interest Payment. If any index finishes below its Trigger Value, the repayment is calculated as $1,000 plus ($1,000 multiplied by the Least Performing Index Return), which the filing warns could result in a complete loss of principal. The filing also states the notes "are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency."

What Was Disclosed

The 424B2 pricing supplement disclosed the full economic terms, barrier levels, Strike Values, estimated note value, fee structure, call mechanics, and maturity payment formulas for this $850,000 structured note offering by JPMorgan Chase Financial Company LLC, due August 3, 2032. Verified against source; unverifiable items removed.