JPMorgan Chase structured notes with contingent interest, 6% annual drag, and barrier downside

Filed July 8, 2026 · ~1 min read

Key Changes

• high

  Notes pay contingent interest (at least 11% annually if paid) only when the underlying index stays at or above its initial level on observation dates; upside capped at interest payments regardless of underlying gains.

  Risk Factors verify on EDGAR →
• high

  The underlying index level is reduced by 6% per year on a daily basis, creating a structural headwind that lowers the probability of receiving interest and increases the risk of principal loss.

  Risk Factors verify on EDGAR →
• high

  Principal at risk if the underlying breaches a barrier level at maturity; hypothetical scenarios show losses from 10% (at -40% underlying return) to 70% (at -100% underlying return) when the barrier is breached.

  Risk Factors verify on EDGAR →