$JPM · JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for a new offering of callable contingent interest notes due November 12, 2031, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are linked to the least performing of the Nasdaq-100 Index, the S&P 500 Index, and the EURO STOXX 50 Index. They are expected to price on or about November 6, 2026 and settle on or about November 12, 2026, with minimum denominations of $1,000.

The notes offer contingent interest payments of at least $26.00 per $1,000 principal amount, equivalent to at least 10.40% per year, paid quarterly. A payment is made only if each index closes at or above 70% of its initial value on the relevant review date. If any index closes below that interest barrier, no interest is paid for that period. JPMorgan Financial may also redeem the notes early, in whole but not in part, on any interest payment date other than the final one.

Investors are exposed to each index individually rather than a basket, and the filing states that investors should be willing to accept the risk of losing a significant portion or all of their principal. The notes have a trigger value of 60% of each index’s initial value. The filing also states that if the notes were priced on the filing date, the estimated value would be approximately $964.50 per $1,000 principal amount, and the final estimated value will not be less than $930.00 per $1,000 principal amount.