摩根大通美股招股说明书(2026-06-22版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement isnot an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Subject to completion dated June 17, 2026JPMorgan Chase Financial Company LLC June 2026Pricing SupplementRegistration Statement Nos. 333-293684 and 333-293684-01Dated June , 2026Filed pursuant to Rule 424(b)(2) STRUCTURED INVESTMENTS Opportunities in U.S. EquitiesContingent Income Auto-Callable Securities due June 29, 2029 Based on the Performance of the Common Stock of Dow Inc.Principal at Risk SecuritiesFully and Unconditionally Guaranteed by JPMorgan Chase&Co. Contingent Income Auto-Callable Securities do not guarantee the payment of interest or the repayment of principal. Instead, the securities offer the opportunity for investors to earn a contingent quarterlypayment equal to at least 3.575% of the stated principal amount, with respect to each determination date on which the closing price of the underlying stock is greater than or equal to 50% of the initialstock price, which we refer to as the downside threshold level. However, if, on any determination date, the closing price of the underlying stock is less than the downside threshold level, you will not receiveany contingent quarterly payment for the related quarterly period. In addition, if the closing price of the underlying stock is greater than or equal to the initial stock price on any determination date (otherthan the final determination date), the securities will be automatically redeemed for an amount per security equal to the stated principal amountplusthe contingent quarterly payment with respect to thatdetermination date. If the securities have not been automatically redeemed prior to maturity and the final stock price is greater than or equal to the downside threshold level, the payment at maturity due onthe securities will be the stated principal amount and the contingent quarterly payment with respect to the final determination date. If, however, the securities have not been automatically redeemed prior tomaturity and the final stock price is less than the downside threshold level, you will be exposed to the decline in the closing price of the underlying stock, as compared to the initial stock price, on a 1-to-1basis and will receive a cash payment at maturity that is less than 50% of the stated principal amount of the securities and could be zero. The securities are for investors who are willing to risk theirprincipal and seek an opportunity to earn interest at a potentially above-market rate in exchange for the risk of receiving few or no contingent quarterly payments and also the risk of receiving a cashpayment at maturity that is significantly less than the stated principal amount of the securities and could be zero.Accordingly, investors could lose their entire initial investment in the securities.Investors will not participate in any appreciation of the underlying stock. The securities are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to asJPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase&Co., issued as part of JPMorgan Financial’s Medium-Term Notes, Series A, program.Anypayment 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.SUMMARY TERMS October 1, 2026, December 31, 2026, April 1, 2027, July 1, 2027, September 30, 2027, December 30, 2027, March 30, 2028, June 29, 2028, September29, 2028, December 29, 2028, March 29, 2029 and the maturity date. JPMS, acting as agent for JPMorgan Financial, will pay all of the selling commissions it receives from us to Morgan Stanley Smith Barney LLC (“Morgan Stanley Wealth Management”).In no event willthese selling commissions exceed $17.50per $1,000 stated principal amount security.See “Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement. Reflects a structuring fee payable to Morgan Stanley Wealth Management by the agent or its affiliates of $5.00for each $1,000 stated principal amount security. * Subject to postponement in the event of a market disruption event as described under “General Terms of Notes — Postponement of a Determination Date — Notes Linked to a Single Underlying —Notes Linked to a Single Underlying (Other Than a Commodity Index)” and “General Terms of Notes — Postponement of a Payment Date” in the accompanying product supplement or early acceleration inthe event of an acceleration event as described under “General Terms of Notes — Consequences of an Acceleration Event” in the accompanying product supplement and “Risk Factors — We may accelerate yoursecurities in our sole discretion and the calculation agent may adjust their final payment in good faith and