JPMorgan Chase Financial Company LLC filed a Free Writing Prospectus pursuant to Rule 433 on October 26, 2026, disclosing the preliminary terms of its 2-year Non-Call 6-Month Auto Callable Contingent Interest Notes linked to the common stock of Meta Platforms, Inc., with a Pricing Date of October 30, 2026 and a Maturity Date of November 2, 2028.

Key Highlights

  • Issuer and Guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. (NYSE:JPM) is the guarantor.
  • Reference Stock: The notes are linked to the common stock of Meta Platforms, Inc.
  • Contingent Interest Rate: At least 12.00% per annum, payable quarterly at a rate of at least 3.00%, if the Reference Stock closes at or above the Interest Barrier on a Review Date.
  • Interest Barrier / Trigger Value: Set at 60.00% of the Initial Value, with Review Dates on a quarterly schedule.
  • Estimated Value: The estimated value of the notes, when terms are set, will not be less than $950.00 per $1,000 principal amount note.
  • Principal Risk: According to the filing's Selected Risks section, if the Final Value is less than the Trigger Value at maturity, investors "will lose more than 40.00% of your principal amount at maturity and could lose all of your principal amount at maturity."
  • CUSIP: 46661QSS5, with a minimum denomination of $1,000.

Structure and Payment Terms of the Meta-Linked Auto-Callable Notes

According to the filing, the notes carry an automatic call feature: if the closing price of Meta Platforms common stock on any Review Date (other than the first and final Review Dates) is greater than or equal to the Initial Value, the notes will be automatically called for a cash payment equal to $1,000 plus the applicable Contingent Interest Payment plus any previously unpaid Contingent Interest Payments, with no further payments thereafter. The filing notes that "the automatic call feature may force a potential early exit."

If the notes are not automatically called and the Final Value at the final Review Date on October 30, 2028 is at or above the Trigger Value (60.00% of the Initial Value), the investor receives $1,000 plus applicable Contingent Interest Payments. If the Final Value falls below the Trigger Value, the payment at maturity is calculated as $1,000 plus ($1,000 multiplied by the Stock Return), which the filing illustrates could result in a $0.00 payment at maturity in a scenario where the Stock Return is negative 100.00%.

The filing discloses several risk factors specific to this structure. Any payment on the notes is subject to the credit risks of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. The filing also states that "as a finance subsidiary, JPMorgan Chase Financial Company LLC has no independent activities and has limited assets." Additionally, the estimated value of the notes is determined by reference to an internal funding rate and "will be lower than the original issue price (price to public) of the notes." The filing further notes that J.P. Morgan Securities LLC intends but is not required to offer to purchase the notes in the secondary market, and that any such secondary-market price "may result in a significant loss of your principal."

What Was Disclosed

The filing summarizes the preliminary terms of the 2-year Non-Call 6-Month AUTO Callable Contingent Interest Notes linked to Meta Platforms common stock, including the contingent interest structure, automatic call mechanics, principal loss scenarios, estimated value, and a list of selected risk considerations as required under Rule 433.