# EDGAR Filing Document

**Accession Number:** 0001665650
**File Stem:** 0001213900-23-011668
**Filing Date:** 2023-2
**Character Count:** 11914
**Document Hash:** 7329dfff5f9b1873f195f1e17ad7d387
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-23-011668.hdr.sgml**: 20230215

**ACCESSION NUMBER**: 0001213900-23-011668

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20230215

**DATE AS OF CHANGE**: 20230214

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Chase Financial Co. LLC
- **CENTRAL INDEX KEY:** 0001665650
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 475462128
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-236659-01
- **FILM NUMBER:** 23632540

**BUSINESS ADDRESS:**
- **STREET 1:** 383 MADISON AVENUE
- **STREET 2:** FLOOR 21
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10179
- **BUSINESS PHONE:** (212) 270-6000

**MAIL ADDRESS:**
- **STREET 1:** 383 MADISON AVENUE
- **STREET 2:** FLOOR 21
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10179
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Chase Financial Co. LLC
- **CENTRAL INDEX KEY:** 0001665650
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **IRS NUMBER:** 475462128
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 383 MADISON AVENUE
- **STREET 2:** FLOOR 21
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10179
- **BUSINESS PHONE:** (212) 270-6000

**MAIL ADDRESS:**
- **STREET 1:** 383 MADISON AVENUE
- **STREET 2:** FLOOR 21
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10179

**JPMorgan Chase Financial Company LLC**

Free Writing Prospectus Filed Pursuant to Rule 433

Registration Statement Nos. 333-236659 and 333-236659-01

Dated February 14, 2023

2-Year KWEB Enhanced Trigger Jump Securities

***This document provides a summary of the terms of the securities. Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement, prospectus supplement and prospectus and the "Risk Considerations" on the following page, prior to making an investment decision.***

---

| | |
|:---|:---|
| &nbsp;&nbsp;**SUMMARY TERMS** | &nbsp;&nbsp;**SUMMARY TERMS** |
| &nbsp;&nbsp;**Issuer:** | &nbsp;&nbsp;JPMorgan Chase Financial Company LLC ("JPMorgan Financial") |
| &nbsp;&nbsp;**Guarantor:** | &nbsp;&nbsp;JPMorgan Chase & Co. |
| &nbsp;&nbsp;**ETF Shares:** | &nbsp;&nbsp;Shares of the KraneShares CSI China Internet ETF (Bloomberg ticker: KWEB UP Equity) |
| &nbsp;&nbsp;**Payment at maturity:** | &nbsp;&nbsp; If the final share price is *greater than or equal to* the trigger level, you will receive at maturity a cash payment per $10 stated principal amount security equal to:<br> $10 + upside payment<br> If the final share price is less than the trigger level, you will receive at maturity a cash payment per $10 stated principal amount security equal to:<br> $10 × share performance factor<br> *This amount will be less than the stated principal amount of $10 and will represent a loss of more than 30%, and possibly all, of your principal amount.* |
| &nbsp;&nbsp;**Upside payment:** | &nbsp;&nbsp;At least $3.06 per $10 stated principal amount security (at least 30.60% of the stated principal amount) |
| &nbsp;&nbsp;**Trigger level:** | &nbsp;&nbsp; , which is 70% of the initial share price |
| &nbsp;&nbsp;**Share performance factor:** | &nbsp;&nbsp;final share price / initial share price |
| &nbsp;&nbsp;**Initial share price:** | &nbsp;&nbsp;The closing price of one ETF Share on the pricing date |
| &nbsp;&nbsp;**Final share price:** | &nbsp;&nbsp;The closing price of one ETF Share on the valuation date |
| &nbsp;&nbsp;**Share adjustment factor:** | &nbsp;&nbsp;The share adjustment factor is referenced in determining the closing price of one ETF Share and is set initially at 1.0 on the pricing date. The share adjustment factor is subject to adjustment in the event of certain events affecting the ETF Shares. See "The Underlyings — Funds — Anti-Dilution Adjustments" in the accompanying product supplement. |
| &nbsp;&nbsp;**Stated principal amount:** | &nbsp;&nbsp;$10 per security |
| &nbsp;&nbsp;**Issue price** **:** | &nbsp;&nbsp;$10 per security |
| &nbsp;&nbsp;**Pricing date:** | &nbsp;&nbsp;Expected to be February 28, 2023 |
| &nbsp;&nbsp;**Original issue date (settlement date):** | &nbsp;&nbsp;3 business days after the pricing date |
| &nbsp;&nbsp;**Valuation date<sup>†</sup>:** | &nbsp;&nbsp;February 28, 2025 |
| &nbsp;&nbsp;**Maturity date<sup>†</sup>:** | &nbsp;&nbsp;March 5, 2025 |
| &nbsp;&nbsp;**CUSIP / ISIN:** | &nbsp;&nbsp;48133K674 / US48133K6745 |
| &nbsp;&nbsp;**Preliminary pricing supplement:** | &nbsp;&nbsp;[http://www.sec.gov/Archives/edgar/data/1665650<br> /000121390023011349/ea149668_424b2.htm](http://www.sec.gov/Archives/edgar/data/1665650/000121390023011349/ea149668_424b2.htm) |

---

<sup>†</sup>Subject to postponement

The estimated value of the securities on the pricing date will be provided in the pricing supplement and will not be less than $9.30 per security. For information about the estimated value of the securities, which likely will be lower than the price you paid for the securities, please see the hyperlink above.

Any payment on the securities is subject to the credit risk of JPMorgan Financial as issuer of the securities, and the credit risk of JPMorgan Chase & Co., as guarantor of the securities.

---

| |
|:---|
| **Enhanced Trigger Jump Securities Payoff Diagram\*** |
| ![](image_001.jpg) |

---

\*The actual upside payment will be provided in the pricing supplement and will not be less than $3.06 per security.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Change in ETF Shares** | &nbsp;&nbsp;**Return on the Seurities\*** |
| &nbsp;&nbsp;80.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;70.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;60.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;50.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;40.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;30.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;20.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;10.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;5.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;1.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;0.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;-10.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;-20.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;-30.00% | &nbsp;&nbsp;30.60% |
| &nbsp;&nbsp;-30.01% | &nbsp;&nbsp;-30.01% |
| &nbsp;&nbsp;-40.00% | &nbsp;&nbsp;-40.00% |
| &nbsp;&nbsp;-50.00% | &nbsp;&nbsp;-50.00% |
| &nbsp;&nbsp;-60.00% | &nbsp;&nbsp;-60.00% |
| &nbsp;&nbsp;-80.00% | &nbsp;&nbsp;-80.00% |
| &nbsp;&nbsp;-100.00% | &nbsp;&nbsp;-100.00% |
| &nbsp;&nbsp;*\*Assumes an upside payment of 30.60% of the stated principal amount* | &nbsp;&nbsp;*\*Assumes an upside payment of 30.60% of the stated principal amount* |

---

**JPMorgan Chase Financial Company LLC**

2-Year KWEB Enhanced Trigger Jump Securities

ETF Shares

For more information about the ETF Shares, including historical performance information, see the accompanying preliminary pricing supplement.

Risk Considerations

The risks identified below are not exhaustive. Please see "Risk Factors" in the accompanying prospectus supplement, product supplement and preliminary pricing supplement for additional information.

Risks Relating to the Securities Generally

▪ The securities do not pay interest or guarantee the return of any principal and your investment in the
securities may result in a loss.

▪ Appreciation potential is fixed and limited.

▪ Your ability to receive the upside payment may terminate on the valuation date.

▪ The securities are subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co., and
any actual or anticipated changes to our or JPMorgan Chase & Co.'s credit ratings or credit spreads may adversely affect the
market value of the securities.

▪ As a finance subsidiary, JPMorgan Financial has no independent operations and has limited assets.

▪ The benefit provided by the trigger level may terminate on the valuation date

▪ Secondary trading may be limited.

▪ The final terms and estimated valuation of the securities will be provided in the pricing supplement.

▪ The U.S. federal income tax consequences of an investment in the securities are uncertain.

Risks Relating to Conflicts of Interest

▪ Economic interests of the issuer, the guarantor, the calculation agent, the agent of the offering of
the securities and other affiliates of the issuer may be different from those of investors.

▪ Hedging and trading activities by the issuer and its affiliates could potentially affect the value of
the securities.

Risks Relating to the Estimated Value and Secondary Market Prices of the Securities

▪ The estimated value of the securities will be lower than the original issue price (price to public) of
the securities .

▪ The estimated value of the securities does not represent future values of the securities and may differ
from others' estimates .

▪ The estimated value of the securities is derived by reference to an internal funding rate.

▪ The value of the securities as published by J.P. Morgan Securities LLC (and which may
be reflected on customer account statements) may be higher than the then-current estimated value of the securities for
a limited time period.

▪ Secondary market prices of the securities will likely be lower than the original issue price of the securities .

▪ Secondary market prices of the securities will be impacted by many economic and market factors.

Risks Relating to the ETF Shares

▪ Investing in the securities is not equivalent
to investing in the ETF Shares.

▪ Adjustments to the ETF Shares or the
underlying index could adversely affect the value of the securities.

▪ There are risks associated with the ETF
Shares.

▪ The performance and market value of the
ETF Shares, particularly during periods of market volatility, may not correlate with the performance of the underlying index as well as
the net asset value per ETF Share.

▪ The securities are subject to risks associated
with the internet sector.

▪ The securities are subject to risks associated
with securities issued by non-U.S. companies.

▪ The securities entail emerging markets
risk.

▪ The securities are subject to currency
exchange risk.

▪ Recent executive orders may adversely
affect the performance of the ETF Shares.

▪ Governmental legislative and regulatory
actions, including sanctions, could adversely affect your investment in the securities.

▪ The anti-dilution protection for the
ETF shares is limited.

Tax Considerations

You should review carefully the discussion in the accompanying preliminary pricing supplement under "Additional Information about the Securities — Tax considerations" concerning the U.S. federal income tax consequences of an investment in the securities, and you should consult your tax adviser.

SEC Legend: JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. have filed a registration statement (including a prospectus) with the SEC for any offerings to which these materials relate. Before you invest, you should read the prospectus in that registration statement and the other documents relating to this offering that JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. has filed with the SEC for more complete information about JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., any agent or any dealer participating in the this offering will arrange to send you the prospectus and each prospectus supplement as well as any product supplement and preliminary pricing supplement if you so request by calling toll-free 1-866-535-9248.