JPMorgan Chase Financial Co. LLC Files New Securities Prospectus

TL;DR

**JPM's finance arm is prepping to issue new securities, watch for details.**

AI Summary

This 424B2 filing from JPMorgan Chase Financial Co. LLC, a subsidiary of JPMorgan Chase & Co., is a preliminary pricing supplement filed on March 24, 2026. It indicates that JPMorgan Chase Financial Co. LLC is offering new securities under its existing shelf registration (File No. 333-270004). This matters to investors because it signals JPMorgan Chase Financial Co. LLC's intent to raise capital, which could be used for various corporate purposes, potentially impacting future earnings or strategic initiatives.

Why It Matters

This filing signals JPMorgan Chase Financial Co. LLC's intention to issue new securities, which could dilute existing shareholders if equity-linked or increase debt obligations, impacting the parent company, JPMorgan Chase & Co.'s, financial structure.

Risk Assessment

Risk Level: medium — The filing itself is administrative, but the underlying offering of new securities could introduce market or financial risks depending on the terms and use of proceeds.

Analyst Insight

Investors should monitor subsequent filings for the specific terms (e.g., type of security, interest rate, maturity) of the new offering by JPMorgan Chase Financial Co. LLC to assess its potential impact on JPMorgan Chase & Co.'s financial health and stock.

Key Players & Entities

• JPMorgan Chase Financial Co. LLC (company) — Filer of the 424B2 prospectus
• JPMorgan Chase & Co. (company) — Parent company of the filer
• 0001665650 (person) — CIK of JPMorgan Chase Financial Co. LLC
• 0000019617 (person) — CIK of JPMorgan Chase & Co.
• 2026-03-24 (date) — Filing date of the 424B2
• 333-270004 (person) — File number for the shelf registration statement

FAQ

Key Financial Figures

• $1,000 — of the notes. Minimum denominations of $1,000 and integral multiples thereof The no
• $7.50 — t will these selling commissions exceed $7.50 per $1,000 principal amount note. See
• $972.00 — lue of the notes would be approximately $972.00 per $1,000 principal amount note. The
• $900.00 — g supplement and will not be less than $900.00 per $1,000 principal amount note. See "
• $2,760.00 — ment at Maturity 180.00 80.00% 176.00% $2,760.00 170.00 70.00% 154.00% $2,540.00 160.0
• $2,540.00 — 76.00% $2,760.00 170.00 70.00% 154.00% $2,540.00 160.00 60.00% 132.00% $2,320.00 150.0
• $2,320.00 — 54.00% $2,540.00 160.00 60.00% 132.00% $2,320.00 150.00 50.00% 110.00% $2,100.00 140.0
• $2,100.00 — 32.00% $2,320.00 150.00 50.00% 110.00% $2,100.00 140.00 40.00% 88.00% $1,880.00 130.00
• $1,880.00 — 110.00% $2,100.00 140.00 40.00% 88.00% $1,880.00 130.00 30.00% 66.00% $1,660.00 120.00
• $1,660.00 — 88.00% $1,880.00 130.00 30.00% 66.00% $1,660.00 120.00 20.00% 44.00% $1,440.00 110.00
• $1,440.00 — 66.00% $1,660.00 120.00 20.00% 44.00% $1,440.00 110.00 10.00% 22.00% $1,220.00 105.00
• $1,220.00 — 44.00% $1,440.00 110.00 10.00% 22.00% $1,220.00 105.00 5.00% 11.00% $1,110.00 101.00
• $1,110.00 — % 22.00% $1,220.00 105.00 5.00% 11.00% $1,110.00 101.00 1.00% 2.20% $1,022.00 100.00 0
• $1,022.00 — 0% 11.00% $1,110.00 101.00 1.00% 2.20% $1,022.00 100.00 0.00% 0.00% $1,000.00 95.00 -5
• $1,000.00 — 00% 2.20% $1,022.00 100.00 0.00% 0.00% $1,000.00 95.00 -5.00% 0.00% $1,000.00 90.00 -1

Filing Documents

• ea0283059-01_424b2.htm (424B2) — 420KB
• bg1.jpg (GRAPHIC) — 233KB
• bg2.jpg (GRAPHIC) — 264KB
• bg3.jpg (GRAPHIC) — 261KB
• bg4.jpg (GRAPHIC) — 500KB
• bg5.jpg (GRAPHIC) — 368KB
• bg6.jpg (GRAPHIC) — 37KB
• bg7.jpg (GRAPHIC) — 37KB
• bg8.jpg (GRAPHIC) — 114KB
• bg9.jpg (GRAPHIC) — 366KB
• bga.jpg (GRAPHIC) — 223KB
• bgb.jpg (GRAPHIC) — 285KB
• bgc.jpg (GRAPHIC) — 261KB
• bgd.jpg (GRAPHIC) — 37KB
• bge.jpg (GRAPHIC) — 37KB
• 0001213900-26-033199.txt ( ) — 1946KB

From the Filing

PRICING SUPPLEMENT Pricing supplement to product supplement no. 4-I dated April 13, 2023, underlying supplement no. 1-I dated April 13, 2023, the prospectus and prospectus supplement, each dated April 13, 2023, and the prospectus addendum dated June 3, 2024 The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not 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. March , 2026 Registration Statement Nos. 333-270004 and 333-270004-01; Rule 424(b)(2) JPMorgan Chase Financial Company LLC Structured Investments Uncapped Accelerated Barrier Notes Linked to the S&P 500 Futures Excess Return Index due April 1, 2031 Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. The notes are designed for investors who seek an uncapped return of at least 2.20 times any appreciation of the S&P 500 Futures Excess Return Index, at maturity. Investors should be willing to forgo interest payments and be willing to lose some or all of their principal amount at maturity. The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to as JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Any payment on the notes is subject to the credit risk of JPMorgan Financial, as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes. Minimum denominations of $1,000 and integral multiples thereof The notes are expected to price on or about March 27, 2026 and are expected to settle on or about April 1, 2026. CUSIP: 46660RG40 Investing in the notes involves a number of risks. See "Risk Factors" beginning on page S-2 of the accompanying prospectus supplement, Annex A to the accompanying prospectus addendum, "Risk Factors" beginning on page PS-11 of the accompanying product supplement and "Selected Risk Considerations" beginning on page PS-4 of this pricing supplement. Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement, underlying supplement, prospectus supplement, prospectus and prospectus addendum. Any representation to the contrary is a criminal offense. Price to Public (1) Fees and Commissions (2) Proceeds to Issuer Per note $1,000 $ $ Total $ $ $ (1) See "Supplemental Use of Proceeds" in this pricing supplement for information about the components of the price to public of the notes. (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 $7.50 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 $972.00 per $1,000 principal amount note. The estimated value of the notes, when the terms of the notes are set, will be provided in the pricing supplement and will not be less than $900.00 per $1,000 principal amount note. See "The Estimated Value of the Notes" in this pricing supplement for additional information. The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank. PS-1 | Structured Investments Uncapped Accelerated Barrier Notes Linked to the S&P 500 Futures Excess Return Index Key Terms Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co. Guarantor: JPMorgan Chase & Co. Index: The S&P 500 Futures Excess Return Index (Bloomberg ticker: SPXFP) Upside Leverage Factor: At least 2.20 (to be provided in the pricing supplement) Barrier Amount: 85.00% of the Initial Value Pricing Date: On or about March 27, 2026 Original Issue Date (Settlement Date): On or about April 1, 2026 Observation Date*: March 27, 2031 Maturity Date*: April 1, 2031 * Subject to postponement in the event of a market disruption event and 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 Payment at Maturity: If the Final Value is greater than the Initial Value, your payment at maturity per $1,000 principal amount note will be calculated as follows: $1,000 + ($1,000 Index Return Upside Leverage Factor) If the Final Value is equal to the Initial

View Full Filing

View this 424B2 filing on SEC EDGAR