$JPM · JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for a new structured note offering due November 8, 2030, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index, and the S&P 500 Index.

The notes may be automatically called on any review date, beginning November 9, 2027 and including the final review date. If on a review date all three indices close at or above 100% of their initial levels, investors receive $1,000 plus a call premium that increases from at least 12.75% to at least 51.00% depending on the date. If the notes have not been called earlier and at the final review date all three indices are at or above 70% of their initial levels, investors receive the full $1,000 principal. If any index finishes below 70% of its initial level, the payment equals $1,000 plus $1,000 times the least performing index's return, which can result in losing some or all of the principal amount.

The notes are expected to price on or about November 5, 2026, and settle on or about November 10, 2026, with $1,000 minimum denominations. They do not pay interest or dividends and are subject to the credit risk of the issuer and guarantor. The estimated value is approximately $969.10 per $1,000 note as of the filing, and the final estimated value will not be less than $900.00 per note.