JPMorgan Chase Financial Company LLC filed a free writing prospectus (FWP) under Rule 433 disclosing the preliminary terms of its 3-Year Uncapped Accelerated Barrier Notes linked to the Nasdaq-100, Russell 2000, and S&P 500 indexes, with a pricing date of November 30, 2026.

Key Highlights

  • Issuer and guarantor: JPMorgan Chase Financial Company LLC is the issuer; JPMorgan Chase & Co. is the guarantor.
  • Upside leverage: At least 1.61x applied to the least performing underlying's return when all underlyings finish above their initial values.
  • Barrier level: 70.00% of each underlying's initial value; principal is returned in full only if no underlying closes below that barrier on the observation date.
  • Key dates: Pricing Date November 30, 2026; Observation Date November 30, 2029; Maturity Date December 5, 2029.
  • Estimated value: Will be not less than $900.00 per $1,000 principal amount note when terms are set, which the filing notes "likely will be lower than the price you paid."
  • Loss risk: If any underlying's final value is below its barrier amount, the investor loses more than 30.00% of principal and "could lose all" of principal.
  • CUSIP: 46661QHN8; minimum denomination $1,000.

Terms and Payout Structure of the JPMorgan Barrier Notes

According to the filing, the notes are linked to three underlyings: the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index. Payment at maturity is determined by the least performing of the three. If all underlyings finish above their initial values, the investor receives $1,000 plus $1,000 multiplied by the least performing underlying return multiplied by the upside leverage factor of at least 1.61. The filing presents a hypothetical table illustrating that a 100% underlying return would produce a 161.00% note return and a $2,610.00 payment per $1,000 note.

The filing discloses a barrier amount set at 70.00% of each underlying's initial value. If one or more underlyings decline but none falls below 70.00% of its initial value, the investor receives $1,000 (principal returned, no gain). If any underlying's final value is less than its barrier amount, the investor participates in that loss fully; for example, the filing's hypothetical table shows a -50.00% underlying return producing a $500.00 payment and a -100.00% return producing a $0.00 payment.

The filing lists several selected risks, including that any payment is subject to the credit risk of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., that the notes pay no interest or dividends, and that secondary-market liquidity is not guaranteed. The filing also discloses that JPMorgan Chase & Co. "is currently one of the companies that make up the S&P 500 Index," creating a potential conflict. The filing was made pursuant to Rule 433, referencing registration statement nos. 333-293684 and 333-293684-01.

What Was Disclosed

JPMorgan Chase Financial Company LLC disclosed the preliminary terms of three-year structured barrier notes (CUSIP 46661QHN8) linked to three equity indexes, including leverage, barrier mechanics, estimated value floor, and selected risk factors, via a free writing prospectus filed with the SEC.