JPMorgan Chase Financial Company LLC filed a free writing prospectus (FWP) on November 4, 2026, disclosing terms for callable contingent interest notes linked to the Nasdaq-100 Technology Sector Index, the Russell 2000 Index, and the S&P 500 Index, with a pricing date of November 13, 2026, and a maturity date of October 18, 2028.

Key Highlights

  • Issuer and guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor.
  • Contingent interest rate: Between 11.00% and 13.00% per annum, paid monthly at a rate of between 0.91667% and 1.08333%, if the closing value of each underlying on the applicable review date is at or above its Interest Barrier.
  • Interest Barrier / Trigger Value: 70.00% of each underlying's Initial Value applies to both the interest barrier and the trigger value.
  • Principal at risk: According to the filing, if the Final Value of any underlying is less than its Trigger Value, investors "will lose more than 30.00% of your principal amount at maturity and could lose all of your principal amount."
  • Estimated value: The filing states estimated value "will not be less than $900.00 per $1,000 principal amount note" and "will be lower than the original issue price."
  • Early redemption: The issuer may redeem the notes early, in whole but not in part, on any Interest Payment Date other than the first, second, and final, at $1,000 plus any applicable Contingent Interest Payment.
  • CUSIP: 46661QKZ7; minimum denomination is $1,000.

Terms and Risk Structure of the NDXT/RTY/SPX Callable Contingent Interest Notes

According to the filing, the notes carry an approximately 1.92-year term, with a pricing date of November 13, 2026, a Final Review Date of October 13, 2028, and a maturity date of October 18, 2028. Review dates occur monthly. The three underlyings are the Nasdaq-100 Technology Sector Index, the Russell 2000 Index, and the S&P 500 Index. The filing discloses that JPMorgan Chase & Co. is currently one of the companies that make up the S&P 500 Index, which the filing identifies as a risk factor.

The contingent interest mechanism, as described in the filing, pays between $9.1667 and $10.8333 per $1,000 principal amount note each month, but only if each of the three underlyings closes at or above its Interest Barrier on the applicable review date. If any underlying closes below that threshold, no interest is paid for that period. At maturity, if all underlyings finish at or above their Trigger Values (each set at 70.00% of initial value), investors receive $1,000 plus the final contingent interest payment. If any underlying finishes below its Trigger Value, the repayment is calculated as $1,000 plus ($1,000 multiplied by the Least Performing Underlying Return), exposing investors to full downside of the worst-performing index.

The filing lists several selected risks, including that the notes offer no guarantee of principal or interest, that any payment is subject to the credit risk of both the issuer and the guarantor, and that "the appreciation potential of the notes is limited to the sum of any Contingent Interest Payments that may be paid over the term of the notes." The filing also notes potential conflicts of interest, as J.P. Morgan and its affiliates act as calculation agent and hedge obligations under the notes, and that such activities "could result in substantial returns for J.P. Morgan and its affiliates while the value of the notes declines."

What Was Disclosed

This free writing prospectus sets out the preliminary terms for callable contingent interest notes issued by JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., linked to three equity indexes, with contingent monthly interest of 11.00%-13.00% per annum and full principal at risk below a 70.00% trigger.