JPMorgan Chase Financial Files 424B2 Prospectus for New Securities

TL;DR

**JPM Chase Financial is issuing new securities, watch for details on type and terms.**

AI Summary

JPMorgan Chase Financial Co. LLC, a subsidiary of JPMorgan Chase & Co., filed a 424B2 prospectus on March 24, 2026. This filing is a preliminary pricing supplement, indicating that the company is likely offering new securities to raise capital. For investors, this means potential dilution if the securities are equity-linked, or increased debt obligations for the parent company, JPMorgan Chase & Co., which could impact future earnings or credit ratings.

Why It Matters

This filing signals JPMorgan Chase Financial Co. LLC is preparing to issue new securities, which could affect the capital structure and financial health of its parent, JPMorgan Chase & Co.

Risk Assessment

Risk Level: medium — The risk level is medium because while it's a routine filing for a financial institution, the specific terms of the securities being offered are not yet detailed, which could introduce unknown risks or opportunities.

Analyst Insight

Investors should monitor subsequent filings (like a final pricing supplement) to understand the specific terms, type, and quantity of securities being offered by JPMorgan Chase Financial Co. LLC, as this will determine the impact on JPMorgan Chase & Co.'s financial position.

Key Numbers

• 424B2 — Form Type (Indicates a prospectus for new securities)
• 0001918704-26-007939 — SEC Accession No. (Unique identifier for this specific filing)

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|company|dollar_amount) — CIK of JPMorgan Chase Financial Co. LLC
• 0000019617 (person|company|dollar_amount) — CIK of JPMorgan Chase & Co
• 2026-03-24 (person|company|dollar_amount) — Filing date of the 424B2

FAQ

Key Financial Figures

• $1,000 — ribed below. Minimum denominations of $1,000 and integral multiples thereof The no
• $25.00 — t will these selling commissions exceed $25.00 per $1,000 principal amount note. See "
• $940.20 — lue of the notes would be approximately $940.20 per $1,000 principal amount note. The e
• $900.00 — ng supplement and will not be less than $900.00 per $1,000 principal amount note. See "
• $122.00 — ew Date Call Premium Amount First $122.00 Second $244.00 Third $366.00
• $244.00 — ium Amount First $122.00 Second $244.00 Third $366.00 Fourth $488.00
• $366.00 — $122.00 Second $244.00 Third $366.00 Fourth $488.00 Final $610.00
• $488.00 — $244.00 Third $366.00 Fourth $488.00 Final $610.00 Hypothetical Payout
• $610.00 — $366.00 Fourth $488.00 Final $610.00 Hypothetical Payout Examples The fo
• $1,122.00 — automatically called Total Payment $1,122.00 (12.20% return) Because the closing v
• $1,610.00 — automatically called Total Payment $1,610.00 (61.00% return) Because the closing v
• $1,000.00 — ual to Barrier Amount Total Payment $1,000.00 (0.00% return) Because the notes have
• $500.00 — s than Barrier Amount Total Payment $500.00 (-50.00% return) Because the notes ha

Filing Documents

• form424b2.htm (424B2) — 169KB
• image_001.jpg (GRAPHIC) — 21KB
• image_002.jpg (GRAPHIC) — 5KB
• image_006.jpg (GRAPHIC) — 131KB
• image_007.jpg (GRAPHIC) — 141KB
• image_003.gif (GRAPHIC) — 3KB
• image_004.gif (GRAPHIC) — 5KB
• image_005.gif (GRAPHIC) — 5KB
• 0001918704-26-007939.txt ( ) — 597KB

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. April , 2026 Registration Statement Nos. 333-270004 and 333-270004-01; Rule 424(b)(2) JPMorgan Chase Financial Company LLC Structured Investments Review Notes Linked to the Lesser Performing of the iShares MSCI EAFE ETF and the Russell 2000 Index due April 10, 2031 Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. The notes are designed for investors who seek early exit prior to maturity at a premium if, on any Review Date, the closing value of each of the iShares MSCI EAFE ETF and the Russell 2000 Index, which we refer to as the Underlyings, is at or above its Call Value. The earliest date on which an automatic call may be initiated is April 8, 2027. Investors should be willing to forgo interest and dividend payments and be willing to accept the risk of losing 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. Payments on the notes are not linked to a basket composed of the Underlyings. Payments on the notes are linked to the performance 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 April 6, 2026 and are expected to settle on or about April 9, 2026. CUSIP: 46660RGY4 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 $25.00 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 $940.20 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. 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 Key Terms Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co. Guarantor: JPMorgan Chase & Co. Underlyings: The Russell 2000 Index (Bloomberg ticker: RTY) (the "Index") and the iShares MSCI EAFE ETF (Bloomberg ticker: EFA) (the "Fund") (each of the Index and the Fund, an "Underlying" and collectively, the "Underlyings") Call Premium Amount: The Call Premium Amount with respect to each Review Date is set forth below: first Review Date: at least 12.20% $1,000 second Review Date: at least 24.40% $1,000 third Review Date: at least 36.60% $1,000 fourth Review Date: at least 48.80% $1,000 final Review Date: at least 61.00% $1,000 (in each case, to be provided in the pricing supplement) Call Value: With respect to each Underlying, 100.00% of its Initial Value Barrie

View Full Filing

View this 424B2 filing on SEC EDGAR