摩根大通美股招股说明书(2026-04-21版)

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricingsupplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale isnot permitted.Subject to completion dated April 20, 2026 PRICING SUPPLEMENTFiled Pursuant to Rule 424(b)(2)Registration Statement Nos. 333-293684 and 333-293684-01Dated April, 2026JPMorgan Chase Financial Company LLC Trigger GEARS Linked to an Unequally Weighted Basket of 5 Equity Indices due on or about April 27, 2029 Fully and Unconditionally Guaranteed by JPMorgan Chase&Co. Investment Description Trigger GEARS (Growth Enhanced Asset Return Securities), which we refer to as the “Securities,” are unsecured and unsubordinated debt securities issued byJPMorgan Chase Financial Company LLC (“JPMorgan Financial”), the payment on which is fully and unconditionally guaranteed by JPMorgan Chase&Co., with areturn linked to the performance of an unequally weighted basket (the “Basket”) of the EURO STOXX 50®Index, the Nikkei 225 Index, the FTSE® 100 Index, theSwiss Market Index and the S&P/ASX 200 Index (each, an “Underlying” and together, the “Underlyings”). If the Basket Return is positive, JPMorgan Financial willrepay your principal amount at maturitypluspay a return equal to the Basket Returntimesthe Upside Gearing, which will be finalized on the Trade Date andprovided in the pricing supplement and is expected to be between 1.35 and 1.55. If the Basket Return is zero or negative but the Final Basket Value is greater thanor equal to the Downside Threshold (75.00% of the Initial Basket Value), JPMorgan Financial will repay your principal amount at maturity. However, if the BasketReturn is negative and the Final Basket Value is less than the Downside Threshold, JPMorgan Financial will repay less than your principal amount at maturity, ifanything, resulting in a loss of principal that is proportionate to the negative Basket Return. In this case, you will have full downside exposure to the Basket from theInitial Basket Value to the Final Basket Value and could lose all of your principal amount.Investing in the Securities involves significant risks. You may lose asignificant portion or all of your principal amount. You will not receive dividends or other distributions paid on any stocks included in any Underlying,and the Securities will not pay interest. The contingent repayment of principal applies only if you hold the Securities to maturity. Any payment on theSecurities, including any repayment of principal, is subject to the creditworthiness of JPMorgan Financial, as issuer of the Securities, and thecreditworthiness of JPMorgan Chase&Co., as guarantor of the Securities. If JPMorgan Financial and JPMorgan Chase&Co. were to default on theirpayment obligations, you may not receive any amounts owed to you under the Securities and you could lose your entire investment. Key Dates Features Trade Date1April 24, 2026Original Issue Date (SettlementDate)1April 29, 2026Final Valuation Date2April 24, 2029Maturity Date2April 27, 20291Expected. In the event that we make any change to the expected TradeDate and Settlement Date, the Final Valuation Date and/or the MaturityDate will be changed so that the stated term of the Securities remainsthe same.2Subject to postponement in the event of a market disruption event andas described under “General Terms of Notes — Postponement of aDetermination Date — Notes Linked to Multiple Underlyings” and“General Terms of Notes — Postponement of a Payment Date” in theaccompanying product supplement or early acceleration in the event ofan acceleration event as described under “General Terms of Notes —Consequences of an Acceleration Event” in the accompanying productsupplement and “Key Risks — Risks Relating to the Securities Generally— We May Accelerate Your Securities If an Acceleration Event Occurs”in this pricing supplement Enhanced Growth Potential— At maturity, the Upside Gearing featurewill provide leveraged exposure to any positive performance of theBasket. If the Basket Return is negative, investors may be exposed tothe negative Basket Return at maturity.Downside Exposure with Contingent Repayment of Principal atMaturity— If the Basket Return is zero or negative but the Final BasketValue is greater than or equal to the Downside Threshold, JPMorganFinancial will repay your principal amount at maturity. However, if theBasket Return is negative and the Final Basket Value is less than theDownside Threshold, JPMorgan Financial will repay less than yourprincipal amount at maturity, if anything, resulting in a loss of principalthat is proportionate to the Basket’s decline from the Initial Basket Valueto the Final Basket Value. You may lose a significant portion or all of yourprincipal amount. The contingent repayment of principal applies only ifyou hold the Securities to maturity. Any payment on the Securities,including any repayment of princip