摩根大通美股招股说明书(2026-04-28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 27, 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 In-Digital Notes Linked to a Brent Crude Oil Futures Contract due on or about July 30, 2027Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. Investment Description Trigger In-Digital Notes, which we refer to as the “Notes,” are unsecured and unsubordinated debt securities issued by JPMorgan Chase Financial Company LLC(“JPMorgan Financial”), the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co., with a return linked to the performance of the firstnearby month futures contract for Brent crude oil traded on ICE Futures Europe (Bloomberg ticker: CO1) or, on any day that falls on the last trading day of suchcontract (all pursuant to the rules of ICE Futures Europe), the second nearby month futures contract for Brent crude oil (Bloomberg ticker: CO2) (the “Underlying”).If the Final Value is greater than or equal to the Digital Barrier (which is equal to the Downside Threshold), JPMorgan Financial will repay your principal amount atmaturity and pay a return equal to the Digital Return. The Digital Return will be finalized on the Trade Date and provided in the pricing supplement and is expectedto be between 10.00% and 12.55%. However, if the Final Value is less than the Downside Threshold, JPMorgan Financial will repay less than your principalamount at maturity, if anything, resulting in a loss of principal that is proportionate to the negative Underlying Return.In this case, you will have full downsideexposure to the Underlying from the Initial Value to the Final Value and could lose all of your principal amount. In no event, however, will the payment at maturity beless than $0.Investing in the Notes involves significant risks.You may lose a significant portion or all of your principal amount. The Notes will not payinterest.The contingent repayment of principal and the Digital Return apply only if you hold the Notes to maturity.Any payment on the Notes,including any repayment of principal, is subject to the creditworthiness of JPMorgan Financial, as issuer of the Notes, and the creditworthiness ofJPMorgan Chase & Co., as guarantor of the Notes.If JPMorgan Financial and JPMorgan Chase & Co. were to default on their payment obligations, youmay not receive any amounts owed to you under the Notes and you could lose your entire investment. Key Dates Features Digital Return Feature —If the Final Value is greater than orequal to the Digital Barrier (which is equal to the DownsideThreshold) on the Final Valuation Date, JPMorgan Financial willrepay your principal amount at maturity and pay a return equal tothe Digital Return, regardless of any appreciation of theUnderlying. However, if the Final Value is less than the DownsideThreshold, investors will be exposed to the negative UnderlyingReturn at maturity.Downside Exposure —If the Final Value is less than the Trade Date1Original Issue Date (SettlementDate)1Final Valuation Date2Maturity Date2 1Expected. In the event that we make any change to the expectedTrade Date and Settlement Date, the Final Valuation Date and/or theMaturity Date will be changed so that the stated term of the Notesremains the 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 a Single Underlying — NotesLinked to a Single Commodity or Commodity Futures Contract” and“General Terms of Notes — Postponement of a Payment Date” in theaccompanying product supplement or early acceleration in the event ofa commodity hedging disruption event as described under “GeneralTerms of Notes — Consequences of a Commodity Hedging DisruptionEvent” in the accompanying product supplement and “Key Risks —Risks Relating to the Notes Generally — We May Accelerate YourNotes If a Commodity Hedging Disruption Event Occurs” in this pricingsupplementTHE NOTES ARE SIGNIFICANTLY RISKIER THAN CONVENTIONAL DEBT INSTRUMENTS. JPMORGAN FINANCIAL IS NOT NECESSARILY Downside Threshold (which is equal to the Digital Barrier),JPMorgan Financial will repay less than your principal amount atmaturity, if anything, resulting in a loss of principal that isproportionate to the negative Underlying Return. In no event,however, will the payment at maturity be less than $0.You maylose a significant portion or all of your principal. The contingentrepayment of principal applies only if you hold the Notes tomaturity. Any payment on the Notes, including any repayment ofprincipal, is subject to the creditworthiness of JPMo