JPMorgan Chase Financial Co. LLC Files 424B2 Prospectus

TL;DR

**JPMorgan Chase Financial Co. LLC is issuing new securities, watch for details on use of proceeds.**

AI Summary

JPMorgan Chase Financial Co. LLC, a subsidiary of JPMorgan Chase & Co., filed a 424B2 prospectus on March 24, 2026, related to its existing shelf registration statement (File No. 333-270004-01). This filing indicates that JPMorgan Chase Financial Co. LLC is offering securities, likely debt or equity, under a previously approved registration. For investors, this means the company is actively raising capital, which could be used for general corporate purposes, expansion, or refinancing existing debt, potentially impacting future earnings and stock valuation.

Why It Matters

This filing signals that JPMorgan Chase Financial Co. LLC is preparing to issue new securities, which could dilute existing shareholders or increase the company's debt load, but also provides capital for growth.

Risk Assessment

Risk Level: medium — The risk is medium because while capital raising can be positive, the specific terms of the securities (interest rates, conversion rights, dilution) are not detailed in this preliminary filing.

Analyst Insight

Investors should monitor subsequent filings (like final pricing supplements) to understand the specific terms, amount, and type of securities being offered by JPMorgan Chase Financial Co. LLC, as these details will determine the impact on the parent company's stock.

Key Numbers

• 2026-03-24 — Filing Date (Date the 424B2 prospectus was filed by JPMorgan Chase Financial Co. LLC)
• 333-270004-01 — Shelf Registration File No. (The registration statement under which these securities are being offered by JPMorgan Chase Financial Co. LLC)

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
• 333-270004-01 (dollar_amount) — File number for JPMorgan Chase Financial Co. LLC's shelf registration
• 333-270004 (dollar_amount) — File number for JPMORGAN CHASE & CO's shelf registration
• 2026-03-24 (dollar_amount) — Filing date of the 424B2 prospectus

FAQ

Key Financial Figures

• $1,000 — ribed below. Minimum denominations of $1,000 and integral multiples thereof The no
• $15.00 — t will these selling commissions exceed $15.00 per $1,000 principal amount note. See "
• $960.00 — lue of the notes would be approximately $960.00 per $1,000 principal amount note. The e
• $950.00 — ng supplement and will not be less than $950.00 per $1,000 principal amount note. See "
• $45.00 — gent Interest Payment equal to at least $45.00 (equivalent to a Contingent Interest Ra
• $0.00000625 — ock of Microsoft Corporation, par value $0.00000625 per share MSFT $383.00 $191.50
• $383.00 — ar value $0.00000625 per share MSFT $383.00 $191.50 Common stock of Oracle Corp
• $191.50 — 0.00000625 per share MSFT $383.00 $191.50 Common stock of Oracle Corporation, p
• $0.01 — stock of Oracle Corporation, par value $0.01 per share ORCL $154.34 $77.17 S
• $154.34 — ion, par value $0.01 per share ORCL $154.34 $77.17 Supplemental Terms of the No
• $77.17 — alue $0.01 per share ORCL $154.34 $77.17 Supplemental Terms of the Notes Any
• $360.00 — otal Contingent Interest Payments 8 $360.00 7 $315.00 6 $270.00 5 $225.
• $315.00 — t Interest Payments 8 $360.00 7 $315.00 6 $270.00 5 $225.00 4 $180.
• $270.00 — ments 8 $360.00 7 $315.00 6 $270.00 5 $225.00 4 $180.00 3 $135.
• $225.00 — 60.00 7 $315.00 6 $270.00 5 $225.00 4 $180.00 3 $135.00 2 $90.0

Filing Documents

• form424b2.htm (424B2) — 172KB
• image_001.jpg (GRAPHIC) — 21KB
• image_002.jpg (GRAPHIC) — 5KB
• image_006.jpg (GRAPHIC) — 125KB
• image_007.jpg (GRAPHIC) — 134KB
• image_003.gif (GRAPHIC) — 5KB
• image_004.gif (GRAPHIC) — 5KB
• image_005.gif (GRAPHIC) — 5KB
• 0001918704-26-007909.txt ( ) — 587KB

From the Filing

PRICING SUPPLEMENT 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 Auto Callable Contingent Interest Notes Linked to the Lesser Performing of the Common Stock of Microsoft Corporation and the Common Stock of Oracle Corporation due March 28, 2028 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 for which the closing price of one share of each of the Reference Stocks is greater than or equal to 50.00% of its Strike Value, which we refer to as an Interest Barrier. If the closing price of one share of each Reference Stock is greater than or equal to its Interest Barrier on any Review Date, investors will receive, in addition to the Contingent Interest Payment with respect to that Review Date, any previously unpaid Contingent Interest Payments for prior Review Dates. The notes will be automatically called if the closing price of one share of each Reference Stock on any Review Date (other than the final Review Date) is greater than or equal to its Strike Value. Investors should be willing to accept the risk of losing a significant portion or all of their principal and the risk that no Contingent 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 receive Contingent Interest Payments. 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. Payments on the notes are not linked to a basket composed of the Reference Stocks. Payments on the notes are linked to the performance of each of the Reference Stocks individually, as described below. Minimum denominations of $1,000 and integral multiples thereof The notes are expected to price on or about March 24, 2026 (the "Pricing Date") and are expected to settle on or about March 27, 2026. The Strike Value of each Reference Stock has been determined by reference to the closing price of one share of that Reference Stock on March 23, 2026 and not by reference to the closing price of one share of that Reference Stock on the Pricing Date. CUSIP: 46660RHU1 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, 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 $15.00 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 $960.00 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 $950.00 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. Pricing supplement to product supplement no. 4-I dated April 13, 2023, the prospectus and prospectus supplement, each dated April 13, 2023, a

View Full Filing

View this 424B2 filing on SEC EDGAR