JPMorgan Chase Launches Market-Linked Securities Tied to Apple Stock

JPMorgan Chase & Co. has filed a preliminary pricing supplement for a new financial product linked to Apple Inc.'s stock. The offering, set to be completed in October 2026, involves market-linked securities that provide upside participation to a cap and a fixed percentage buffered downside. These securities, due October 18, 2029, are fully and unconditionally guaranteed by JPMorgan Chase & Co. and are issued by JPMorgan Chase Financial Company LLC.

The securities do not pay interest or guarantee a fixed principal repayment. Instead, their maturity payment depends on Apple's stock performance. If Apple's stock rises, investors can earn up to 60.75% of the principal amount. If the stock remains flat or decreases by up to 15%, the principal is protected. However, if the stock falls by more than 15%, investors face a 1-to-1 downside exposure, potentially losing up to 85% of their principal.

The securities are priced at $1,000 per security, with $28.25 going to fees and commissions, leaving $971.75 to the issuer. The estimated value of the securities, if priced today, would be approximately $964.30 per security, but this will be set in the final pricing supplement and will not be less than $930.00 per security. The offering is not listed on any exchange and is designed to be held to maturity.