摩根大通美股招股说明书(2026-03-23版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not anoffer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.Subject to completion dated March 19, 2026. Pricing supplementTo prospectus dated April 13, 2023, Registration Statement Nos. 333-270004 and 333-270004-01Dated March, 2026 prospectus supplement dated April 13, 2023,product supplement no. 4-I dated April 13, 2023,underlying supplement no. 1-I dated April 13, 2023 and JPMorgan Chase Financial Company LLC Structured Digital Contingent Buffered Notes Linked to the S&P 500®Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. ●The notes are designed for investors who seek a fixed return of at least 9.17%* if the Ending Index Level of the S&P 500®Index isgreater than or equal to the Index Strike Level or is less than the Index Strike Level by up to 25.00%.●Investors should be willing to forgo interest and dividend payments and, if the Ending Index Level is less than the Index Strike Levelby more than 25.00%, be willing to lose some or all of their principal amount at maturity.●The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to asJPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co.Any payment on thenotes 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 $10,000 and integral multiples of $1,000 in excess thereofKey Terms JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co.JPMorgan Chase & Co.The S&P 500® Issuer:Guarantor:Index: Index (Bloomberg ticker: SPX)If the Ending Index Level is greater than or equal to the Index Strike Level or is less than the Index Strike Levelby up to the Contingent Buffer Amount, at maturity you will receive a cash payment that provides you with areturn per $1,000 principal amount note equal to the Contingent Digital Return.Accordingly, under thesecircumstances, your payment at maturity per $1,000 principal amount note will be calculated as follows: maturity you will lose 1% of the principal amount of your notes for every 1% that the Ending Index Level is lessthan the Index Strike Level.Under these circumstances, your payment at maturity per $1,000 principal amountnote will be calculated as follows: If the Ending Index Level is less than the Index Strike Level by more than the Contingent Buffer Amount of25.00%, you will lose more than 25.00% of your principal amount at maturity and may lose all of your principalamount at maturity. Return of 9.17%, the maximum payment at maturity per $1,000 principal amount note is $1,091.70.*The actual Contingent Digital Return will be provided in the pricing supplement and will not be less than 9.17%.25.00% Contingent Buffer Amount:Index Return: Index Strike Level: April 1, 2027April 6, 202746660RFH2 Investing in the notes involves a number of risks. See “Risk Factors” beginning on page S-2 of the accompanying prospectus supplement, Annex A tothe accompanying prospectus addendum, “Risk Factors” beginning on page PS-11 of the accompanying product supplement and “Selected RiskConsiderations” 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 theaccuracy or the adequacy of this pricing supplement or the accompanying product supplement, underlying supplement, prospectus supplement, prospectus andprospectus addendum. Any representation to the contrary is a criminal offense. (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 toother affiliated or unaffiliated dealers. In no event will these selling commissions exceed $5.00 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 $991.50 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 $980.00 per $1,000 principal amountnote.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, orguaranteed by, a bank. Additional Terms Specific to the Notes Yo