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

TL;DR

**JPM's finance arm is issuing new securities, watch for details on terms.**

AI Summary

JPMorgan Chase Financial Co. LLC, a subsidiary of JPMorgan Chase & Co., filed a 424B2 prospectus on March 25, 2026. This filing is for a preliminary pricing supplement, indicating they are offering new securities. For investors, this means JPMorgan Chase Financial Co. LLC is likely raising capital, which could impact the parent company's financial structure and future growth initiatives, potentially affecting the stock's long-term value.

Why It Matters

This filing signals JPMorgan Chase Financial Co. LLC is issuing new debt or equity, which can alter the company's capital structure and funding costs, directly influencing the parent company's financial health and stock performance.

Risk Assessment

Risk Level: medium — The risk is medium because while new offerings can dilute existing shares or increase debt, the specific terms and use of proceeds are not yet detailed in this preliminary filing.

Analyst Insight

Investors should monitor subsequent filings for the definitive pricing supplement to understand the specific terms, interest rates, and potential impact on JPMorgan Chase & Co.'s financial statements and existing shareholders.

Key Numbers

• 424B2 — Form Type (Indicates a prospectus for an offering of securities)
• 333-270004-01 — File No. (Registration statement number for JPMorgan Chase Financial Co. LLC)
• 2026-03-25 — Filing Date (Date the preliminary pricing supplement was filed)

Key Players & Entities

• JPMorgan Chase Financial Co. LLC (company) — Filer of the 424B2 prospectus
• JPMORGAN CHASE & CO (company) — Parent company of the filer
• March 25, 2026 (date) — Filing date of the 424B2
• 0001665650 (person) — CIK for JPMorgan Chase Financial Co. LLC
• 0000019617 (person) — CIK for JPMORGAN CHASE & CO

Forward-Looking Statements

• JPMorgan Chase Financial Co. LLC will announce the specific terms of its new securities offering, including pricing and volume. (JPMorgan Chase Financial Co. LLC) — high confidence, target: Within 30 days of March 25, 2026
• The capital raised will be used to support general corporate purposes or specific lending initiatives of JPMorgan Chase & Co. (JPMorgan Chase & Co.) — medium confidence, target: Ongoing

FAQ

Key Financial Figures

• $1,000 — f the notes. Minimum denominations of $1,000 and integral multiples thereof The no
• $17.50 — These selling commissions will be up to $17.50 per $1,0 00 principal amount note. JP
• $1,0 — ng commissions will be up to $17.50 per $1,0 00 principal amount note. JPMS, actin
• $1.00 — pay all of the structuring fee of up to $1.00 per $1,000 principal amount note it r
• $960.00 — lue of the notes would be approximately $960.00 per $1,000 principal amount note. The
• $940.00 — supplement and will not be less than $940.00 pe r $1,000 principal amount note. See
• $0.001 — tock of NVIDIA Corporation, par value $0.001 per share (Bloomberg ticker: NVDA). We
• $33.75 — gent Interest Payment equal to at least $33.75 (equivalent to a Contingent Interest
• $270.00 — al Contingent Interest Payments 8 $270.00 7 $236.25 6 $202.50 5 $168.
• $236.25 — Interest Payments 8 $270.00 7 $236.25 6 $202.50 5 $168.75 4 $135.
• $202.50 — ments 8 $270.00 7 $236.25 6 $202.50 5 $168.75 4 $135.00 3 $101.
• $168.75 — 70.00 7 $236.25 6 $202.50 5 $168.75 4 $135.00 3 $101.25 2 $67.5
• $135.00 — 36.25 6 $202.50 5 $168.75 4 $135.00 3 $101.25 2 $67.50 1 $33.75
• $101.25 — 02.50 5 $168.75 4 $135.00 3 $101.25 2 $67.50 1 $33.75 0 $0.00
• $67.50 — 68.75 4 $135.00 3 $101.25 2 $67.50 1 $33.75 0 $0.00 Review Dates

Filing Documents

• ea0283274-01_424b2.htm (424B2) — 609KB
• bg1.jpg (GRAPHIC) — 263KB
• bg2.jpg (GRAPHIC) — 266KB
• bg3.jpg (GRAPHIC) — 351KB
• bg4.jpg (GRAPHIC) — 312KB
• bg5.jpg (GRAPHIC) — 344KB
• bg6.jpg (GRAPHIC) — 309KB
• bg7.jpg (GRAPHIC) — 34KB
• bg8.jpg (GRAPHIC) — 34KB
• bg9.jpg (GRAPHIC) — 449KB
• bga.jpg (GRAPHIC) — 143KB
• bgb.jpg (GRAPHIC) — 232KB
• bgc.jpg (GRAPHIC) — 34KB
• 0001213900-26-033815.txt ( ) — 2104KB

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 , 202 6 Registration Statement Nos. 333 - 270004 and 333 - 270004 - 01 ; Rule 424(b)(2) Pricing supplement to product supplement no. 4-I dated April 13, 2023, the prospectus and prospectus supplement, each dated April 13, 2023, and the prospectus addendum dated June 3, 2024 JPMorgan Chase Financial Company LLC Structured Investments Auto Callable Contingent Interest Notes Linked to the Common Stock of NVIDIA Corporation due April 5, 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 the Reference Stock is greater than or equal to 60.00% of the Initial Value, which we refer to as the Interest Barrier . If the closing price of one share of the Reference Stock is greater than or equal to the 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 the Reference Stock on any Review Date (other than the first and final Review Dates) is greater than or equal to the Initial Value. The earliest date on which an automatic call may be initiated is October 1, 2026. 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. 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: 46660RJC9 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 a nd " 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 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. These selling commissions will be up to $17.50 per $1,0 00 principal amount note. JPMS, acting as agent for JPMorgan Financial, will also pay all of the structuring fee of up to $1.00 per $1,000 principal amount note it receives from us to other affiliated or unaffiliated dealers. 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 $940.00 pe r $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 Common Stock of NVIDIA Corporation Key Terms Issuer: JP

View Full Filing

View this 424B2 filing on SEC EDGAR