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- The Notes Do Not Guarantee Any Return of Principal. (new) — Investors can lose their entire principal if the index declines below the barrier.
- The Level of the Index Will Include a 6.0% Per Annum Daily Deduction. (new) — The index deduction is a significant ongoing cost that reduces potential returns.
- Any Payment On the Notes Is Subject to the Credit Risks of Jpmorgan Chase Financial Company Llc and Jpmorgan Chase & Co. (new) — Noteholders are exposed to the credit risk of both the finance subsidiary and the parent company.
- As a Finance Subsidiary, Jpmorgan Chase Financial Company Llc Has No Independent Activities and Has Limited Assets. (new) — The issuer is a finance subsidiary with limited assets, increasing credit risk for noteholders.
- We and Our Affiliates Play a Variety of Roles In Connection With the Issuance of the Notes, Including Acting As Calculation Agent and Hedging Our Obligations Under the Notes. (new) — JPMorgan's multiple roles create conflicts of interest that could disadvantage noteholders.
JPMorgan Chase files 424B3 for auto-callable notes linked to MerQube US Large-Cap Vol Advantage Index
Filed July 29, 2026 · ~2 min read
Key Changes
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The notes are auto-callable accelerated barrier notes linked to the MerQube US Large-Cap Vol Advantage Index, with a 5x upside leverage factor and a 50% barrier amount.
Summary of Terms verify on EDGAR → -
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The index is subject to a 6.0% per annum daily deduction, which reduces the index level and therefore the note's return.
Summary of Terms verify on EDGAR → -
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If the index falls below 50% of its initial value at maturity, investors lose 1% for every 1% decline, potentially losing all principal.
Summary of Terms verify on EDGAR →
3 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 7, 2026 · How we verify