JPM: SEC Form FWP filed by JP Morgan Chase & Co.
Structured note on Nasdaq-100, Russell 2000 and S&P 500 with 1.50x upside leverage, 70% barrier, auto-call, matures Nov 29, 2029.
What this filing says
JPMorgan Chase Financial Company LLC is offering 3-year notes linked to the Nasdaq-100, Russell 2000 and S&P 500 indexes, guaranteed by JPMorgan Chase & Co., priced on November 24, 2026 and maturing November 29, 2029. The notes can be automatically called early for a cash payment with a fixed premium, and otherwise pay based on the weakest index, so principal can be lost. For a shareholder of JPM, this is a debt product sold to investors, and it adds credit exposure to the firm as guarantor.
Key figures
- Upside leverage factor
- 1.50
- Barrier amount
- 70.00% of initial value
- Minimum denomination
- $1,000
- Estimated value floor
- $900.00 per $1,000 note
- First review call premium
- at least 12.80%
- Second review call premium
- at least 25.60%
Positive for shareholders
- Notes can be called early for a fixed premium if all three indexes are at or above their call levels on a review date.
- If held to maturity and no index falls below its barrier, principal is returned in full.
Negative for shareholders
- Principal can be lost if any underlying index finishes below 70.00% of its initial value.
- The estimated value is at least $900.00 per $1,000 note, which is likely below the price paid.
- Payment is tied to the worst-performing index, and the upside factor does not apply on an early call.
- Investors bear the credit risk of both the issuer and JPMorgan Chase & Co. as guarantor.
Written by Quantisnow AI from this filing. Not financial advice.
Key terms
- Barrier amount:
- A price level for each index that, if the final value falls below it, causes losses on the principal at maturity.
- Automatic call:
- A feature that ends the note early and pays a set amount if the indexes are high enough on a scheduled review date.
- Upside leverage factor:
- A multiplier applied to the gain of the weakest index when calculating the payment at maturity.
- Estimated value:
- The issuer's calculation of what the note is theoretically worth at issue, which is usually below the price investors pay.
FAQ
Can JPMorgan Chase investors lose money on these notes?
Yes. The filing says investors may lose some or all of their principal at maturity if any underlying index finishes below its barrier amount.
What happens to the notes if they are automatically called?
Holders receive $1,000 plus the call premium for that review date, and the upside leverage factor does not apply to that payment.
Who backs the payments on these notes?
Payments are subject to the credit risk of JPMorgan Chase Financial Company LLC as issuer and JPMorgan Chase & Co. as guarantor.
Historical context for JPM
Across the 24 sessions after earlier JPM headlines, the stock closed higher 15 times and lower 9 times, with a median move of 0.5% in either direction. This shows timing only: many things move a stock in a session, and these figures do not show that any headline caused a move.
| Session | Earlier headline | JPM | SPY |
|---|---|---|---|
| Oct 28, 2026 | JPMorganChase Updates 2027 Earnings Release Date Information | +1.0% | +0.3% |
| Oct 22, 2026 | J.P. Morgan Asset Management Expands Access to Its Tokenized Money Market Funds on Solanaand 1 other headline that session | +0.4% | -1.2% |
| Oct 20, 2026 | 55ip Expands UMA Offering to RIA Channel with J.P. Morgan Asset Management and BlackRock | +0.5% | +0.3% |
| Oct 19, 2026 | J.P. Morgan Releases 2027 Long-Term Capital Market Assumptions Projecting 7.0% Return for 60/40 Portfolio Over 10-15 Yearsand 1 other headline that session | -1.8% | +0.4% |
| Oct 16, 2026 | JPMorganChase Declares Preferred Stock Dividends | +1.2% | -1.1% |
| Oct 15, 2026 | Chase Brings AI Fraud-Fighting Advice to Consumers at 700 Chase Branches Nationwide | +0.1% | +0.3% |
- Market cap
- 30-day
- Sector
- Finance
- Industry
- Major Banks
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