$JPM · JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement to offer structured notes linked to the Bloomberg Commodity Index, due November 4, 2031, and fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about October 30, 2026, and settle on or about November 4, 2026, with a minimum denomination of $1,000.

The notes do not pay interest. At maturity, investors receive the $1,000 principal amount plus an additional amount based on the index return multiplied by a participation rate of at least 257.50%, but the additional amount cannot exceed $1,000 per $1,000 note, capping the maximum return at 100%. Investors are entitled to full repayment of principal at maturity, subject to the credit risk of the issuer and guarantor. The preliminary estimated value of the notes is approximately $951.40 per $1,000 note, and the final estimated value will not be less than $930.00 per $1,000 note. The terms are preliminary and may change.