JPMorgan Chase Financial Co. LLC Files 424B2 for New Offering

TL;DR

**JPM Financial just filed a 424B2, likely prepping a new securities offering.**

AI Summary

This 424B2 filing, submitted on March 24, 2026, by JPMorgan Chase Financial Co. LLC, is a preliminary pricing supplement for a new offering. It indicates that JPMorgan Chase & Co. (CIK: 0000019617) is the ultimate parent company. This matters to investors because it signals that JPMorgan Chase Financial Co. LLC is preparing to issue new securities, which could impact the company's capital structure and potentially dilute existing shareholders or increase its debt obligations, depending on the nature of the offering.

Why It Matters

This filing signals JPMorgan Chase Financial Co. LLC is preparing to raise capital, which could affect the company's financial health and future growth prospects.

Risk Assessment

Risk Level: medium — The filing itself is administrative, but the underlying offering could introduce market or credit risk depending on its terms.

Analyst Insight

Investors should monitor subsequent filings (like a final pricing supplement or prospectus) to understand the specific terms, size, and type of securities being offered by JPMorgan Chase Financial Co. LLC, as this will determine the impact on the parent company, JPMorgan Chase & Co.

Key Numbers

• 2026-03-24 — Filing Date (Date the 424B2 form was filed and accepted by the SEC.)
• 0001665650 — CIK of Filer (Unique identifier for JPMorgan Chase Financial Co. LLC.)
• 0000019617 — CIK of Parent Company (Unique identifier for JPMorgan Chase & Co.)
• 333-270004-01 — File No. for Filer (Registration statement number for JPMorgan Chase Financial Co. LLC's offering.)

Key Players & Entities

• JPMorgan Chase Financial Co. LLC (company) — Filer of the 424B2 form
• JPMorgan Chase & Co (company) — Parent company of the Filer
• 0001665650 (person) — CIK for JPMorgan Chase Financial Co. LLC
• 0000019617 (person) — CIK for JPMorgan Chase & Co
• 2026-03-24 (dollar_amount) — Filing Date

Forward-Looking Statements

• JPMorgan Chase Financial Co. LLC will proceed with a new securities offering. (JPMorgan Chase Financial Co. LLC) — high confidence, target: 2026-03-31

FAQ

Key Financial Figures

• $1,000 — cribed below. Minimum denominations of $1,000 and integral multiples thereof The no
• $95.00 — t will these selling commissions exceed $95.00 per $1,000 principal amount note. See
• $975.10 — lue of the notes would be approximately $975.10 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 "
• $8.9167 — gent Interest Payment equal to at least $8.9167 (equivalent to a Contingent Interest R
• $321.0000 — Total Contingent Interest Payments 36 $321.0000 35 $312.0833 34 $303.1667 33 $294.25
• $312.0833 — nt Interest Payments 36 $321.0000 35 $312.0833 34 $303.1667 33 $294.2500 32 $285.33
• $303.1667 — ayments 36 $321.0000 35 $312.0833 34 $303.1667 33 $294.2500 32 $285.3333 31 $276.41
• $294.2500 — 21.0000 35 $312.0833 34 $303.1667 33 $294.2500 32 $285.3333 31 $276.4167 30 $267.50
• $285.3333 — 12.0833 34 $303.1667 33 $294.2500 32 $285.3333 31 $276.4167 30 $267.5000 29 $258.58
• $276.4167 — 03.1667 33 $294.2500 32 $285.3333 31 $276.4167 30 $267.5000 29 $258.5833 28 $249.66
• $267.5000 — 94.2500 32 $285.3333 31 $276.4167 30 $267.5000 29 $258.5833 28 $249.6667 27 $240.75
• $258.5833 — 85.3333 31 $276.4167 30 $267.5000 29 $258.5833 28 $249.6667 27 $240.7500 26 $231.83
• $249.6667 — 76.4167 30 $267.5000 29 $258.5833 28 $249.6667 27 $240.7500 26 $231.8333 25 $222.91
• $240.7500 — 67.5000 29 $258.5833 28 $249.6667 27 $240.7500 26 $231.8333 25 $222.9167 24 $214.00

Filing Documents

• ea0283232-01_424b2.htm (424B2) — 453KB
• bg1.jpg (GRAPHIC) — 263KB
• bg2.jpg (GRAPHIC) — 265KB
• bg3.jpg (GRAPHIC) — 261KB
• bg4.jpg (GRAPHIC) — 444KB
• bg5.jpg (GRAPHIC) — 282KB
• bg6.jpg (GRAPHIC) — 356KB
• bg7.jpg (GRAPHIC) — 348KB
• bg8.jpg (GRAPHIC) — 304KB
• bg9.jpg (GRAPHIC) — 37KB
• bga.jpg (GRAPHIC) — 83KB
• bgb.jpg (GRAPHIC) — 506KB
• bgc.jpg (GRAPHIC) — 396KB
• bgd.jpg (GRAPHIC) — 268KB
• bge.jpg (GRAPHIC) — 275KB
• 0001213900-26-033371.txt ( ) — 2663KB

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 Auto Callable Contingent Interest Notes Linked to the Least Performing of the Dow Jones Industrial Average , the Russell 2000 Index and the S&P 500 Index due April 5, 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 for which the closing level of each of the Dow Jones Industrial Average , the Russell 2000 Index and the S&P 500 Index, which we refer to as the Indices, is greater than or equal to 70.00% of its Initial Value, which we refer to as an Interest Barrier. The notes will be automatically called if the closing level of each Index on any Review Date (other than the first through eleventh and final Review Dates) is greater than or equal to its Initial Value. The earliest date on which an automatic call may be initiated is March 31, 2027. 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 Indices. Payments on the notes are linked to the performance of each of the Indices individually, as described below. Minimum denominations of $1,000 and integral multiples thereof The notes are expected to price on or about March 31, 2026 and are expected to settle on or about April 6, 2026. CUSIP: 46660RGK4 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-7 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 $95.00 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 $975.10 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 Auto Callable Contingent Interest Notes Linked to the Least Performing of the Dow Jones Industrial Average , the Russell 2000 Index and the S&P 500 Index Key Terms Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co. Guara

View Full Filing

View this 424B2 filing on SEC EDGAR