$JPM · JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC filed a preliminary pricing supplement for a structured note offering fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are auto callable buffered return enhanced notes linked to the least performing of the Russell 2000 Index, the Nasdaq-100 Index, and the iShares MSCI Emerging Markets ETF, with a maturity date of May 9, 2028. The notes are expected to price on or about November 4, 2026 and settle on or about November 9, 2026, with a minimum denomination of $1,000.

The notes may be automatically called on November 10, 2027 if each underlying closes at or above its initial value. In that case, investors would receive the principal amount plus a call premium of at least $242.50 per $1,000 note. If the notes are not called, at maturity they offer 1.30 times the appreciation of the least performing underlying if each underlying has increased, but investors may lose up to 90% of their principal. The estimated value of the notes, if priced on the filing date, is approximately $977.70 per $1,000 principal amount note, and the final estimated value will be at least $900.00 per $1,000.