JPMorgan Chase Financial Company LLC filed a free writing prospectus fact sheet on November 5, 2026 for Market Linked Securities with leveraged upside participation to a cap and contingent downside, linked to the Russell 2000 Index and maturing November 17, 2031.

Key Highlights

  • Principal amount: $1,000 per security (100% of par), denominated in multiples of $1,000.
  • Upside participation rate: 175%, with a maximum return of at least 70.25% of the principal amount (at least $702.50 per security).
  • Threshold level: 75% of the starting level; if the ending level falls below this threshold, investors bear full downside exposure and "will lose more than 25%, and possibly all, of the principal amount" at maturity.
  • Estimated value: Approximately $941.20 per security if priced on the fact sheet date, and will not be less than $910.00 per security when final terms are set.
  • Fees and commissions: Up to 3.87% for Wells Fargo Securities, LLC, with a selling concession of 3.00% and a distribution expense fee of 0.12% applicable to Wells Fargo Advisors.
  • Pricing date: November 12, 2026 (subject to change); stated maturity date November 17, 2031 (subject to postponement).
  • CUSIP: 46661Q3Q6; calculation agent is J.P. Morgan Securities LLC.

Structure and Terms of the Russell 2000 Linked Securities

According to the filing, JPMorgan Chase Financial Company LLC is the issuer and JPMorgan Chase & Co. serves as the full and unconditional guarantor of the securities. The securities are described as "unsecured and unsubordinated obligations" of JPMorgan Chase Financial Company LLC, and "any payment on the securities is subject to the credit risk of JPMorgan Financial, as issuer of the securities, and the credit risk of JPMorgan Chase & Co., as guarantor of the securities." The underlying index is the Russell 2000 Index (Bloomberg ticker: RTY).

The filing sets out three maturity payment scenarios based on the relationship between the ending level and starting level of the index on the calculation day, November 12, 2031. If the ending level exceeds the starting level, the holder receives $1,000 plus the lesser of the leveraged gain (index return multiplied by the 175% participation rate) or the maximum return of at least 70.25%. If the ending level is at or below the starting level but at or above the threshold level (75% of the starting level), the holder receives $1,000. If the ending level falls below the threshold level, the holder receives $1,000 plus the product of $1,000 and the index return, exposing them to full downside loss beyond the 25% buffer.

The filing discloses that the estimated value of the securities is lower than the original issue price, noting that the estimated value "is derived by reference to an internal funding rate." The fact sheet further states that secondary market prices "will likely be lower than the original issue price." The filing identifies Wells Fargo Securities, LLC as distributor and notes that JPMS may pay up to 0.30% to selected dealers for marketing and distribution services. The securities are described as not being bank deposits and not insured by the Federal Deposit Insurance Corporation or any other governmental agency.

What Was Disclosed

JPMorgan Chase Financial Company LLC disclosed the preliminary terms of Market Linked Securities tied to the Russell 2000 Index, including a 175% upside participation rate, a 70.25% maximum return cap, a 75% threshold level for principal protection, and an estimated value of approximately $941.20 per security.