摩根大通美股招股说明书(2026-07-14版)

Callable Contingent Interest Notes Linked to the LeastPerforming of the Nasdaq-100 Index®, the Russell 2000®Index and the State Street®SPDR®S&P®Regional BankingETF due August 3, 2029 Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. •The notes are designed for investors who seek a Contingent Interest Payment with respect to each Review Date forwhich the closing value of each of the Nasdaq-100 Index®, the Russell 2000®Index and the State Street®SPDR®S&P®Regional Banking ETF, which we refer to as the Underlyings, is greater than or equal to 70.00% of its Initial Value, whichwe refer to as an Interest Barrier.•The notes may be redeemed early, in whole but not in part, at our option on any of the Interest Payment Dates (otherthan the first through fifth and final Interest Payment Dates).•The earliest date on which the notes may be redeemed early is February 4, 2027.•Investors should be willing to accept the risk of losing a significant portion or all of their principal and the risk that noContingent Interest Payment may be made with respect to some or all Review Dates.•Investors should also be willing to forgo fixed interest and dividend payments, in exchange for the opportunity to receiveContingent Interest Payments.•The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer toas JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co.Anypayment on the notes is subject to the credit risk of JPMorgan Financial, as issuer of the notes, and the creditrisk of JPMorgan Chase & Co., as guarantor of the notes.•Payments on the notes are not linked to a basket composed of the Underlyings. Payments on the notes are linked to theperformance of each of the Underlyings individually, as described below.•Minimum denominations of $1,000 and integral multiples thereof•The notes are expected to price on or about July 31, 2026 and are expected to settle on or about August 5, 2026.•CUSIP: 46661CT89 Investing in the notes involves a number of risks. See “Risk Factors” beginning on page S-2 of the accompanyingprospectus supplement, “Risk Factors” beginning on page PS-12 of the accompanying product supplement and“Selected Risk Considerations” beginning on page PS-5 of this pricing supplement. Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapprovedof the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement,underlying supplement, prospectus supplement and prospectus. Any representation to the contrary is a criminal offense. (1) See “Supplemental Use of Proceeds” in this pricing supplement for information about the components of the price to public of the(2) J.P. Morgan Securities LLC, which we refer to as JPMS, acting as agent for JPMorgan Financial, will pay all of the selling commissions it receives from us to other affiliated or unaffiliated dealers. In no event will these selling commissions exceed $5.00 per$1,000 principal amount note. See “Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement. If the notes priced today, the estimated value of the notes would be approximately $963.10 per $1,000 principal amountnote. The estimated value of the notes, when the terms of the notes are set, will be provided in the pricing supplementand will not be less than $900.00 per $1,000 principal amount note. See “The Estimated Value of the Notes” in thispricing supplement for additional information. The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agencyand are not obligations of, or guaranteed by, a bank. Key Terms Issuer:JPMorgan Chase Financial Company LLC, a direct,wholly owned finance subsidiary of JPMorgan Chase & Co.Guarantor:JPMorgan Chase & Co.Underlyings:TheNasdaq-100 Index®(Bloomberg ticker: NDX)and the Russell 2000®Index (Bloomberg ticker: RTY) (each oftheNasdaq-100 Index®and the Russell 2000®Index, an “Index”and collectively, the “Indices”) and the State Street®SPDR®S&P®Regional Banking ETF(Bloomberg ticker: KRE) (the“Fund”) (each of the Indices and the Fund, an “Underlying” andcollectively, the “Underlyings”)Contingent InterestPayments:If the notes have not beenpreviously redeemed early and the closing value of eachUnderlying on any Review Date is greater than or equal to itsInterest Barrier, you will receive on the applicable InterestPayment Date for each $1,000 principal amount note aContingent Interest Payment equal to at least $9.7083(equivalent to a Contingent Interest Rate of at least 11.65% perannum, payable at a rate of at least 0.97083% per month) (tobe provided in the pricing supplement).If the closing value of any Underlying on any Review Date isless than its Interest Barrier, no Contingent Interest Paymentwill be made with respect to that Review Date.Contingent InterestRat