JPMorgan Launches High-Risk Structured Notes Linked to Dow and Nasdaq

JPMorgan Chase & Co. has launched a new structured investment product designed for sophisticated investors seeking exposure to U.S. equities with a twist. The $1 million offering, issued by JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co., features Uncapped Dual Directional Buffered Return Enhanced Notes linked to the performance of the Dow Jones Industrial Average® and the Nasdaq-100 Index®. The notes, priced on October 2, 2026, and expected to settle around October 7, 2026, offer an uncapped return of 1.2555 times any appreciation in the lesser-performing index, capped at 20% upside.

The notes come with a 20% buffer, meaning investors can withstand a decline of up to 20% in the lesser-performing index without losing principal. However, if losses exceed 20%, investors risk losing up to 80% of their principal. The product is unsecured and unsubordinated, with payments subject to the credit risk of both the issuer and the guarantor. Minimum investment is $1,000 per note, with fees of $7.50 per note.

The estimated value of the notes at issuance was $983 per $1,000 note, reflecting the structured nature of the product. The notes will mature on October 5, 2029, with the final value determined by the closing levels of the Dow Jones and Nasdaq-100 indices on the observation date. The offering highlights JPMorgan’s strategy to provide tailored investment solutions for clients willing to take on higher risk for potential uncapped returns.