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PRICING SUPPLEMENT
\nFiled Pursuant to Rule 424(b)(2)
\nRegistration Statement Nos. 333-293684 and 333-293684-01
\nDated October 14, 2026

JPMorgan Chase Financial Company LLC Market Linked Notes

$4,779,000 Linked to an Unequally Weighted Basket of 5 Equity Indices due\nOctober 16, 2031

Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.

\n \n \n

Investment Description

Market Linked Notes, which we refer to as the “Notes,” are\nunsecured and unsubordinated debt securities issued by JPMorgan Chase Financial Company LLC (“JPMorgan Financial”), the payment\non which is fully and unconditionally guaranteed by JPMorgan Chase & Co., with a return linked to the performance of an\nunequally weighted basket (the “Basket”) of the EURO STOXX 50^® Index, the Nikkei 225 Index, the FTSE^®\n100 Index, the Swiss Market Index and the S&P/ASX 200 Index (each, an “Underlying” and together, the “Underlyings”).\nIf the Basket Return is positive, JPMorgan Financial will repay your principal amount at maturity plus pay a return equal to the\nBasket Return times the Participation Rate of 130.00%. If the Basket Return is zero or negative, JPMorgan Financial will repay\nyour principal amount at maturity but you will not receive any positive return on your investment. Investing in the Notes involves\nsignificant risks. You will not receive dividends or other distributions paid on any stocks included in any Underlying, and the Notes\nwill not pay interest. The repayment of principal applies only if you hold the Notes to maturity. Any payment on the Notes, including\nany repayment of principal, is subject to the creditworthiness of JPMorgan Financial, as issuer of the Notes, and the creditworthiness\nof JPMorgan Chase & Co., as guarantor of the Notes. If JPMorgan Financial and JPMorgan Chase & Co. were to\ndefault on their payment obligations, you may not receive any amounts owed to you under the Notes and you could lose your entire investment.

\n \n \n

Features

\n \n \n \n \n \n \n

Growth Potential — If the Basket Return is positive, JPMorgan Financial will repay your principal amount at maturity plus pay a return equal to the Basket Return times the Participation Rate.

Repayment of Principal at Maturity — If the Basket Return is zero or negative, JPMorgan Financial will repay your principal amount at maturity but you will not receive any positive return on your investment. The repayment of principal applies 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 and JPMorgan Chase & Co.

\n \n \n

Key Dates

\n \n \n \n \n \n \n \n \n \n \n \n \n

Trade Date	October 14, 2026
Original Issue Date (Settlement Date)	October 16, 2026
Final Valuation Date¹	October 14, 2031
Maturity Date¹	October 16, 2031

\n \n \n \n

Subject to postponement in the event of a market disruption event and as described under “General Terms of Notes — Postponement of a Determination Date — Notes Linked to Multiple Underlyings” and “General Terms of Notes — Postponement of a Payment Date” in the accompanying product supplement or early acceleration in the event of an acceleration event as described under “General Terms of Notes — Consequences of an Acceleration Event” in the accompanying product supplement and “Key Risks — Risks Relating to the Notes Generally — We May Accelerate Your Notes If an Acceleration Event Occurs” in this pricing supplement

YOU MAY RECEIVE ONLY THE PRINCIPAL AMOUNT OF THE NOTES AT MATURITY AND\nMAY NOT RECEIVE ANY POSITIVE RETURN ON THE NOTES. THIS MARKET RISK IS IN ADDITION TO THE CREDIT RISK INHERENT IN PURCHASING A DEBT OBLIGATION\nOF JPMORGAN FINANCIAL FULLY AND UNCONDITIONALLY GUARANTEED BY JPMORGAN CHASE & CO. YOU SHOULD NOT PURCHASE THE NOTES IF\nYOU DO NOT UNDERSTAND OR ARE NOT COMFORTABLE WITH THE SIGNIFICANT RISKS INVOLVED IN INVESTING IN THE NOTES.

YOU SHOULD CAREFULLY CONSIDER THE RISKS DESCRIBED UNDER “KEY RISKS”\nBEGINNING ON PAGE 6 OF THIS PRICING SUPPLEMENT, UNDER “RISK FACTORS” BEGINNING ON PAGE S-2 OF THE ACCOMPANYING PROSPECTUS\nSUPPLEMENT AND UNDER “RISK FACTORS” BEGINNING ON PAGE PS-12 OF THE ACCOMPANYING PRODUCT SUPPLEMENT BEFORE PURCHASING ANY NOTES.\nEVENTS RELATING TO ANY OF THOSE RISKS, OR OTHER RISKS AND UNCERTAINTIES, COULD ADVERSELY AFFECT THE MARKET VALUE OF, AND THE RETURN ON,\nYOUR NOTES. THE NOTES WILL NOT BE LISTED ON ANY SECURITIES EXCHANGE.

\n \n \n

Note Offering

We are offering Market Linked Notes linked to an unequally weighted basket\nof 5 equity indices. The Notes are offered at a minimum investment of $1,000 in denominations of $1,000 and integral multiples thereof.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlyings	Basket \nWeight	Initial \nValue	Participation \nRate	Initial \nBasket \nValue	CUSIP / \n ISIN
EURO STOXX 50^® Index (Bloomberg ticker: SX5E)	40.00%	6,190.37	130.00%	100	46661PGX9 / \nUS46661PGX96
Nikkei 225 Index (Bloomberg ticker: NKY)	25.00%	67,744.29
FTSE^® 100 Index (Bloomberg ticker: UKX)	17.50%	10,724.86
Swiss Market Index (Bloomberg ticker: SMI)	10.00%	14,129.93
S&P/ASX 200 Index (Bloomberg ticker: AS51)	7.50%	8,727.867

See “Additional Information about JPMorgan Financial, JPMorgan\nChase & Co. and the Notes” in this pricing supplement. The Notes will have the terms specified in the prospectus and\nthe prospectus supplement, each dated April 17, 2026, product supplement no. 3-I dated April 17, 2026, underlying supplement no. 1-I dated\nApril 17, 2026 and this pricing supplement. The terms of the Notes as set forth in this pricing supplement, to the extent they differ\nor conflict with those set forth in the accompanying product supplement, will supersede the terms set forth in that product supplement.

Neither the Securities and Exchange Commission (the “SEC”)\nnor any state securities commission has approved or disapproved of the Notes or passed upon the accuracy or the adequacy of this pricing\nsupplement or the accompanying prospectus, the accompanying prospectus supplement, the accompanying product supplement and the accompanying\nunderlying supplement. Any representation to the contrary is a criminal offense.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

	Price to Public¹	Fees and Commissions²	Proceeds to Issuer
Offering of Notes	Total	Per Note	Total	Per Note	Total	Per Note
Notes Linked to an Unequally Weighted \nBasket of 5 Equity Indices	$4,779,000	$1,000.00	$167,265	$35.00	$4,611,735	$965.00

\n \n \n \n \n \n \n

1	See “Supplemental Use of Proceeds” in this pricing supplement for information about the components of the price to public of the Notes
2	UBS Financial Services Inc., which we refer to as UBS, will receive selling commissions from us of $35.00 per $1,000 principal amount Note. See “Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement, as supplemented by “Supplemental Plan of Distribution” in this pricing supplement.

The estimated value of the Notes, when the terms of the Notes were set,\nwas $953.10 per $1,000 principal amount Note. See “The Estimated Value of the Notes” in this pricing supplement for additional\ninformation.

The Notes are not bank deposits, are not insured by the Federal\nDeposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank.

\n \n \n \n

UBS Financial Services Inc.

$\"\"$

\n \n \n

Additional Information about JPMorgan Financial, JPMorgan Chase & Co. and the Notes

You should read this pricing supplement together with the accompanying\nprospectus, as supplemented by the accompanying prospectus supplement relating to our Series A medium-term notes of which these Notes\nare a part, and the more detailed information contained in the accompanying product supplement and the accompanying underlying supplement.\nThis pricing supplement, together with the documents listed below, contains the terms of the Notes and supersedes all other prior or\ncontemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms, correspondence,\ntrade ideas, structures for implementation, sample structures, fact sheets, brochures or other educational materials of ours. You\nshould carefully consider, among other things, the matters set forth in the “Risk Factors” sections of the accompanying prospectus\nsupplement and the accompanying product supplement, as the Notes involve risks not associated with conventional debt securities.

You may access these documents on the SEC website at www.sec.gov\nas follows (or if such address has changed, by reviewing our filings for the relevant date on the SEC website):

Product supplement no. 3-I dated April 17, 2026:
\nhttp://www.sec.gov/Archives/edgar/data/19617/000121390026045198/ea0285802-20_424b2.pdf

Underlying supplement no. 1-I dated April 17, 2026:
\nhttp://www.sec.gov/Archives/edgar/data/19617/000121390026045209/ea0285802-11_424b2.pdf

Prospectus supplement and prospectus, each dated April 17, 2026:
\nhttp://www.sec.gov/Archives/edgar/data/19617/000095010326005889/crt_dp245141-424b2.pdf

Our Central Index Key, or CIK, on the SEC website is 1665650, and\nJPMorgan Chase & Co.’s CIK is 19617. As used in this pricing supplement, the “Issuer,” “JPMorgan\nFinancial,” “we,” “us” and “our” refer to JPMorgan Chase Financial Company LLC.

\n \n \n

Supplemental Terms of the Notes

For purposes of the accompanying product supplement, each of the EURO\nSTOXX 50^® Index, the Nikkei 225 Index, the FTSE^®100 Index, the Swiss Market Index and the S&P/ASX 200\nIndex is an “Index.”

Notwithstanding anything to the contrary in the accompanying product\nsupplement, all values of an Underlying or values to which the value of that Underlying may be compared in the determination of any payment\non the Notes will be rounded to the same number of decimal places as the closing value of that Underlying published by the Bloomberg Professional^®\nservice (“Bloomberg”).

\n \n \n \n \n \n \n

Investor Suitability

The Notes may be suitable for you if, among other
\n considerations:

t You\n fully understand the risks inherent in an investment in the Notes, including the risk of receiving little or no positive return on your\n investment.

t You\n can tolerate receiving only your principal amount at maturity if the level of the Basket remains flat or depreciates over the term of\n the Notes.

t You\n believe the level of the Basket will increase over the term of the Notes.

t You\n are willing to invest in the Notes based on the Participation Rate indicated on the cover hereof.

t You\n can tolerate fluctuations in the price of the Notes prior to maturity that may cause the market value of the Notes to decline.

t You\n do not seek current income from your investment and are willing to forgo dividends paid on the stocks included in the Underlyings.

t You\n are willing and able to hold the Notes to maturity.

t You\n accept that there may be little or no secondary market for the Notes and that any secondary market will depend in large part on the price,\n if any, at which J.P. Morgan Securities LLC, which we refer to as JPMS, is willing to trade the Notes.

t You\n understand and accept the risks associated with the Underlyings.

t You\n are willing to assume the credit risks of JPMorgan Financial and JPMorgan Chase & Co. for all payments under the Notes,\n and understand that if JPMorgan Financial and JPMorgan Chase & Co. default on their obligations, you may not receive any\n amounts due to you including any repayment of principal.

The Notes may not be suitable for you if, among other
\n considerations:

t You\n do not fully understand the risks inherent in an investment in the Notes, including the risk of receiving little or no positive return\n on your investment.

t You\n cannot tolerate receiving only your principal amount at maturity if the level of the Basket remains flat or depreciates over the term\n of the Notes.

t You\n believe the level of the Basket will remain flat or decline over the term of the Notes.

t You\n are unwilling to invest in the Notes based on the Participation Rate indicated on the cover hereof.

t You\n cannot tolerate fluctuations in the price of the Notes prior to maturity that may cause the market value of the Notes to decline.

t You\n seek current income from your investment or prefer not to forgo dividends paid on the stocks included in the Underlyings.

t You\n are unwilling or unable to hold the Notes to maturity or seek an investment for which there will be an active secondary market.

t You\n do not understand or accept the risks associated with the Underlyings.

t You\n are not willing to assume the credit risks of JPMorgan Financial and JPMorgan Chase & Co. for all payments under the Notes,\n including any repayment of principal.

The suitability considerations identified above are not exhaustive.\nWhether or not the Notes are a suitable investment for you will depend on your individual circumstances, and you should reach an investment\ndecision only after you and your investment, legal, tax, accounting and other advisers have carefully considered the suitability of an\ninvestment in the Notes in light of your particular circumstances. You should also review carefully the “Key Risks” section\nof this pricing supplement and the “Risk Factors” sections of the accompanying prospectus supplement and the accompanying\nproduct supplement for risks related to an investment in the Notes. For more information on the Underlyings, please see the sections titled\n“The EURO STOXX 50^® Index,” “The Nikkei 225 Index,” “The FTSE^® 100 Index,”\n“The Swiss Market Index” and “The S&P/ASX 200 Index” below.

\n \n \n

Final Terms

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Issuer:		JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor:		JPMorgan Chase & Co.
Issue Price:		$1,000 per Note
Principal Amount:		$1,000 per Note. The payment at maturity will be based on the principal amount.
Basket:		The Notes are linked to an unequally weighted basket (the “Basket”) of the EURO STOXX 50^® Index, the Nikkei 225 Index, the FTSE^® 100 Index, the Swiss Market Index and the S&P/ASX 200 Index (each, an “Underlying” and together, the “Underlyings”). The Underlyings, along with their respective weightings (each a “Basket Weight”), are set forth below.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

		Underlying	Basket Weight
		EURO STOXX 50^® Index	40.00%
Nikkei 225 Index	25.00%
FTSE^® 100 Index	17.50%
Swiss Market Index	10.00%
	S&P/ASX 200 Index	7.50%

\n \n \n

Due to the unequal weightings of the Underlyings, the performance of the EURO STOXX 50^® Index will have a significantly larger impact on the return on the Notes than the performance of any other Underlying in the Basket.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Term:		5 years
Payment at Maturity (per $1,000 principal amount Note):		\n If the Basket Return is positive, JPMorgan\n Financial will pay you a cash payment at maturity per $1,000 principal amount Note equal to: \n $1,000 + ($1,000 × Basket Return ×\n Participation Rate) \n If the Basket Return is zero or negative, JPMorgan\n Financial will pay you a cash payment at maturity of $1,000 per $1,000 principal amount Note. \n In this scenario, you will not receive any positive return on your\n investment.
Basket Return:		\n (Final Basket Value – Initial Basket Value) \n Initial Basket Value
Participation Rate:		130.00%
Initial Basket Value:		Set equal to 100 on the Trade Date
Final Basket Value:		The closing level of the Basket on the Final Valuation Date
Closing Level of the Basket¹:		The closing level of the Basket on any day will be calculated as follows: \n100 × [1 + sum of (Underlying Return of each Underlying × Basket Weight of that Underlying)]
Initial Value:		With respect to each Underlying, the closing level of that Underlying on the Trade Date, as specified on the cover of this pricing supplement
Final Value:		With respect to each Underlying, the closing level of that Underlying on the Final Valuation Date
Underlying Return:		\n With respect to each Underlying, \n (Final Value – Initial Value) \n Initial Value

\n \n \n

¹ Rounded to two decimal places

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Investment Timeline

Trade Date		The closing level of each Underlying is observed, the Initial Basket Value is set equal to 100 and the Participation Rate is finalized.
$\"\"$
Maturity Date		\n The Final Value of each Underlying, the Final Basket Value and the\n Basket Return are determined. \n If the Basket Return is positive, JPMorgan\n Financial will pay you a cash payment at maturity per $1,000 principal amount Note equal to: \n $1,000 + ($1,000 × Basket Return × \n Participation Rate) \n If the Basket Return is zero or negative, JPMorgan\n Financial will pay you a cash payment at maturity of $1,000 per $1,000 principal amount Note. \n Under these circumstances, you will receive only your principal\n amount.

INVESTING IN THE NOTES INVOLVES SIGNIFICANT RISKS. YOU MAY RECEIVE ONLY\nYOUR PRINCIPAL AMOUNT AT MATURITY. ANY PAYMENT ON THE NOTES, INCLUDING ANY REPAYMENT OF PRINCIPAL, IS SUBJECT TO THE CREDITWORTHINESS\nOF JPMORGAN FINANCIAL AND JPMORGAN CHASE & CO. IF JPMORGAN FINANCIAL AND JPMORGAN CHASE & CO. WERE TO DEFAULT\nON THEIR PAYMENT OBLIGATIONS, YOU MAY NOT RECEIVE ANY AMOUNTS OWED TO YOU UNDER THE NOTES AND YOU COULD LOSE YOUR ENTIRE INVESTMENT.

\n \n \n

What Are the Tax Consequences of the Notes?

Tax Treatment

You should review carefully the\nsection entitled “United States Federal Taxation,” and in particular the subsection thereof entitled “— Tax Consequences\nto U.S. Holders — Program Securities Treated as Debt Instruments — Program Securities Treated as Contingent Payment Debt Instruments,”\nin the accompanying prospectus supplement. Our special tax counsel, Davis Polk & Wardwell LLP, is of the opinion that the Notes should\nbe treated for U.S. federal income tax purposes as debt instruments. Assuming this treatment is respected, unlike a traditional debt instrument\nthat provides for periodic payments of interest at a single fixed rate, with respect to which a cash-method investor generally recognizes\nincome only upon receipt of stated interest, the Notes will be treated for U.S. federal income tax purposes as “contingent payment\ndebt instruments.” As discussed in that subsection, you generally will be required to accrue original issue discount (“OID”)\non your Notes in each taxable year at the “comparable yield,” as determined by us, although we will not make any payment with\nrespect to the Notes until maturity. Upon sale or exchange (including at maturity), you will recognize taxable income or loss equal to\nthe difference between the amount received from the sale or exchange and your adjusted basis in the Note, which generally will equal the\ncost thereof, increased by the amount of OID you have accrued in respect of the Note. You generally must treat any income as interest\nincome and any loss as ordinary loss to the extent of previous interest inclusions, and the balance as capital loss. The deductibility\nof capital losses is subject to limitations. The discussions herein and in the accompanying prospectus supplement do not address the consequences\nto taxpayers subject to special tax accounting rules under Section 451(b) of the Code. Purchasers who are not initial purchasers of Notes\nat their issue price should consult their tax advisers with respect to the tax consequences of an investment in Notes, including the treatment\nof the difference, if any, between the basis in their Notes and the Notes’ adjusted issue price.

Section 871(m) of the Code and\nTreasury regulations promulgated thereunder (“Section 871(m)”) generally impose a 30% withholding tax (unless an income tax\ntreaty applies) on dividend equivalents paid or deemed paid to Non-U.S. Holders with respect to certain financial instruments linked to\nU.S. equities or indices that include U.S. equities. Section 871(m) provides certain exceptions to this withholding regime, including\nfor instruments linked to certain broad-based indices that meet requirements set forth in the applicable Treasury regulations. Additionally,\na recent IRS notice excludes from the scope of Section 871(m) instruments issued prior to January 1, 2029 that do not have a delta of\none with respect to underlying securities that could pay U.S.-source dividends for U.S. federal income tax purposes (each an “Underlying\nSecurity”). Based on certain determinations made by us, our special tax counsel is of the opinion that Section 871(m) should not\napply to the Notes with regard to Non-U.S. Holders. Our determination is not binding on the IRS, and the IRS may disagree with this determination.\nSection 871(m) is complex and its application may depend on your particular circumstances, including whether you enter into other transactions\nwith respect to an Underlying Security. You should consult your tax adviser regarding the potential application of Section 871(m) to the\nNotes.

The discussions in the preceding\nparagraphs, when read in combination with the section entitled “United States Federal Taxation” (and in particular the subsection\nthereof entitled “— Tax Consequences to U.S. Holders — Program Securities Treated as Debt Instruments — Program\nSecurities Treated as Contingent Payment Debt Instruments”) in the accompanying prospectus supplement, constitute the full opinion\nof Davis Polk & Wardwell LLP regarding the material U.S. federal income tax consequences of owning and disposing of the Notes.

Comparable Yield and Projected Payment Schedule

We have determined that the “comparable\nyield” is an annual rate of 5.42%, compounded semiannually. Based on our determination of the comparable yield, the “projected\npayment schedule” per $1,000 principal amount Note consists of a single payment at maturity, equal to $1,306.78. Assuming a semiannual\naccrual period, the following table sets out the amount of OID that will accrue with respect to a Note during each calendar period, based\nupon our determination of the comparable yield and projected payment schedule.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Calendar Period	\n Accrued\n OID \n \n During\n Calendar \n \n Period\n (Per $1,000 \n Principal Amount Note)	\n Total\n Accrued OID from Original \n \n Issue\n Date (Per $1,000 Principal \n Amount Note) as of End of \n Calendar Period
October 16, 2026 through December 31, 2026	$11.14	$11.14
January 1, 2027 through December 31, 2027	$55.54	$66.68
January 1, 2028 through December 31, 2028	$58.60	$125.28
January 1, 2029 through December 31, 2029	$61.82	$187.10
January 1, 2030 through December 31, 2030	$65.21	$252.31
January 1, 2031 through October 16, 2031	$54.47	$306.78

The comparable yield and projected\npayment schedule are determined solely to calculate the amount on which you will be taxed with respect to the Notes in each year and are\nneither a prediction nor a guarantee of what the actual yield will be. The amount you actually receive at maturity or earlier sale or\nexchange of your notes will affect your income for that year, as described above under “Tax Treatment.”

\n \n \n

Key Risks

An investment in the Notes involves significant risks. Investing in\nthe Notes is not equivalent to investing directly in the Basket or any or all of the Underlyings. These risks are explained in more detail\nin the “Risk Factors” sections of the accompanying prospectus supplement and the accompanying product supplement. We also\nurge you to consult your investment, legal, tax, accounting and other advisers before you invest in the Notes.

Risks Relating to the Notes Generally

The Notes May Not Pay More Than the Principal Amount at Maturity — You may receive a lower payment at maturity than you\nwould have received if you had invested in a traditional fixed-rated debt security of a similar term from us or if you had invested directly\nin the Underlyings, the securities included in the Underlyings or contracts relating to the Underlyings for which there is an active secondary\nmarket. If the Basket Return is zero or negative, you will receive only the principal amount of your Notes at maturity, you will not receive\nany positive return on your investment, and you will not be compensated for any loss in value due to inflation and other factors relating\nto the value of money over time.

Credit Risks of JPMorgan Financial and JPMorgan Chase & Co. — The Notes are unsecured and unsubordinated\ndebt obligations of the Issuer, JPMorgan Chase Financial Company LLC, the payment on which is fully and unconditionally guaranteed by\nJPMorgan Chase & Co. The Notes will rank pari passu with all of our other unsecured and unsubordinated obligations,\nand the related guarantee by JPMorgan Chase & Co. will rank pari passu with all of JPMorgan Chase & Co.’s\nother unsecured and unsubordinated obligations. The Notes and related guarantees are not, either directly or indirectly, an obligation\nof any third party. Any payment to be made on the Notes, including any repayment of principal, depends on the ability of JPMorgan Financial\nand JPMorgan Chase & Co. to satisfy their obligations as they come due. As a result, the actual and perceived creditworthiness\nof JPMorgan Financial and JPMorgan Chase & Co. may affect the market value of the Notes and, in the event JPMorgan Financial\nand JPMorgan Chase & Co. were to default on their obligations, you may not receive any amounts owed to you under the terms\nof the Notes and you could lose your entire investment.

As a Finance Subsidiary, JPMorgan Financial Has No Independent Activities and Limited Assets — As\na finance subsidiary of JPMorgan Chase & Co., we have no independent activities beyond the issuance and administration of\nour securities and the collection of intercompany obligations. Aside from the initial capital contribution from JPMorgan Chase & Co.,\nsubstantially all of our assets relate to obligations of JPMorgan Chase & Co. to make payments under loans made by us to\nJPMorgan Chase & Co. or under other intercompany agreements. As a result, we are dependent upon payments from JPMorgan Chase & Co.\nto meet our obligations under the Notes. We are not an operating subsidiary of JPMorgan Chase & Co. and in a bankruptcy\nor resolution of JPMorgan Chase & Co. we are not expected to have sufficient resources to meet our obligations in respect\nof the Notes as they come due. If JPMorgan Chase & Co. does not make payments to us and we are unable to make payments on\nthe Notes, you may have to seek payment under the related guarantee by JPMorgan Chase & Co., and that guarantee will rank\npari passu with all other unsecured and unsubordinated obligations of JPMorgan Chase & Co. For more information,\nsee “Risk Factors — Holders of securities issued by JPMorgan Financial may be subject to losses if JPMorgan Chase & Co.\nwere to enter into a resolution” in the accompanying prospectus supplement.

We May Accelerate Your Notes If an Acceleration Event Occurs — Upon the announcement or occurrence of an acceleration\nevent, we may, in our sole and absolute discretion, accelerate the payment on your Notes and pay you an amount determined by the calculation\nagent in good faith and in a commercially reasonable manner by reference to the values of any fixed-income debt component and any derivatives\nunderlying the economic terms of the Notes as of the date of the notice of acceleration. An acceleration event means there is an announcement\nor occurrence of legal or regulatory changes that the calculation agent determines are likely to interfere with your or our ability to\ntransact in or hold the Notes or our ability to hedge or perform our obligations under the Notes. If the payment on your Notes is accelerated,\nyour investment may result in a loss, and you may not be able to reinvest your money in a comparable investment. Please see “General\nTerms of Notes — Consequences of a Change-in-Law Event” in the accompanying product supplement for more information.

The Participation Rate Applies Only If You Hold the Notes to Maturity — You should\nbe willing to hold your Notes to maturity. If you are able to sell your Notes prior to maturity in the secondary market, if any, the price\nyou receive likely will not reflect the full economic value of the Participation Rate or the Notes themselves, and the return you realize\nmay be less than the product of the performance of the Basket and the Participation Rate and may be less than the Basket’s return,\neven if that return is positive. You can receive the full benefit of the Participation Rate only if you hold your Notes to maturity.

The Repayment of Principal Applies Only If You Hold the Notes to Maturity — You\nshould be willing to hold your Notes to maturity. If you are able to sell your Notes in the secondary market, if any, prior to maturity,\nyou may have to sell them at a loss relative to your initial investment even if the closing level of the Basket is above the Initial Basket\nValue. If you hold the Notes to maturity, JPMorgan Financial will repay your principal amount. The repayment of principal applies only\nif you hold your Notes to maturity.

No Interest Payments — JPMorgan Financial will not make any interest payments to you with respect to the Notes.

Correlation (or Lack of Correlation) of the Underlyings — Changes in the levels of the Underlyings may not correlate\nwith each other. At a time when the level of one or more Underlyings increases, the level of one or more other Underlyings may not increase\nas much or may even decline. Therefore, in calculating the closing level of the Basket, an increase in the level of one or more of the\nUnderlyings may be moderated, or more than offset, by a lesser increase or decline in the level of one or more other Underlyings. In addition,\nhigh correlation of movements in the levels of the Underlyings during periods of negative returns among the Underlyings could have an\nadverse effect on any payment on the Notes. Due to the unequal weightings of the Underlyings, the performance of the EURO STOXX 50^®\nIndex will have a significantly larger impact on the return on the Notes than the performance of any other Underlying in the Basket.

Investing in the Notes Is Not Equivalent to Investing in the Stocks Composing the Underlyings — Investing in the Notes\nis not equivalent to investing in the stocks included in the Underlyings. As an investor in the Notes , you will not have any ownership\ninterest or rights in the stocks included in the Underlyings, such as voting rights, dividend payments or other distributions.

We Cannot Control Actions by the Sponsor of Any Underlying and That Sponsor Has No Obligation\nto Consider Your Interests — We and our affiliates are not affiliated with the sponsor of any Underlying and have no ability\nto control or predict its actions, including any errors in or discontinuation of public disclosure regarding methods or policies relating\nto the calculation of that Underlying. The sponsor of each Underlying is not involved in this Note offering in any way and has no obligation\nto consider your interest as an owner of the Notes in taking any actions that might affect the market value of your Notes.

Your Return on the Notes Will Not Reflect Dividends on the Stocks Composing the Underlyings — Your return on the Notes\nwill not reflect the return you would realize if you actually owned the stocks included in the Underlyings and received the dividends\non the stocks included in the Underlyings. This is because the calculation agent will calculate the amount payable to you at maturity\nof the Notes by reference to the Final Basket Value, which is based on the closing level of each Underlying on the Final Valuation Date\nwithout taking into consideration the value of dividends on the stocks included in that Underlying.

Lack of Liquidity — The Notes will not be listed on any securities exchange. JPMS intends to offer to purchase the Notes\nin the secondary market, but is not required to do so. Even if there is a secondary market, it may not provide enough liquidity to allow\nyou to trade or sell the Notes easily. Because other dealers are not likely to make a secondary market for the Notes, the price at which\nyou may be able to trade your Notes is likely to depend on the price, if any, at which JPMS is willing to buy the Notes.

Tax Treatment — As discussed further above under “What Are the Tax Consequences of the Notes?” and in the\naccompanying prospectus supplement, if you are a U.S. individual or taxable entity, you generally will be required to accrue interest\non a current basis in respect of the Notes over their term based on the comparable yield for the Notes and pay tax accordingly, even though\nyou will not receive any payments from us until maturity. This comparable yield is determined solely to calculate the amount on which\nyou will be taxed prior to maturity and is neither a prediction nor a guarantee of what the actual yield will be.

Risks Relating to Conflicts of Interest

Potential Conflicts — We and our affiliates play a variety of roles in connection with the issuance of the Notes, including\nacting as calculation agent and hedging our obligations under the Notes and making the assumptions used to determine the pricing of the\nNotes and the estimated value of the Notes when the terms of the Notes are set, which we refer to as the estimated value of the Notes.\nIn performing these duties, our and JPMorgan Chase & Co.’s economic interests and the economic interests of the calculation\nagent and other affiliates of ours are potentially adverse to your interests as an investor in the Notes. In addition, our and JPMorgan\nChase & Co.’s business activities, including hedging and trading activities, could cause our and JPMorgan Chase & Co.’s\neconomic interests to be adverse to yours and could adversely affect any payment on the Notes and the value of the Notes. It is possible\nthat hedging or trading activities of ours or our affiliates in connection with the Notes could result in substantial returns for us or\nour affiliates while the value of the Notes declines. Please refer to “Risk Factors — Risks Relating to Conflicts of Interest”\nin the accompanying product supplement for additional information about these risks.

Potentially Inconsistent Research, Opinions or Recommendations by JPMS, UBS or Their Affiliates — JPMS, UBS or their\naffiliates may publish research, express opinions or provide recommendations that are inconsistent with investing in or holding the Notes,\nand that may be revised at any time. Any such research, opinions or recommendations may or may not recommend that investors buy or hold\ninvestments linked to the Underlyings and could affect the values of the Underlyings, and therefore the Basket and the market value of\nthe Notes.

Potential JPMorgan Financial Impact on the Level of an Underlying — Trading or transactions by JPMorgan Financial or\nits affiliates in an Underlying or in futures, options or other derivative products on an Underlying may adversely affect the level of\nthat Underlying and, therefore, the market value of the Notes.

Risks Relating to the Estimated Value and Secondary Market Prices\nof the Notes

The Estimated Value of the Notes Is Lower Than the Original Issue Price (Price to Public) of the Notes — The estimated\nvalue of the Notes is only an estimate determined by reference to several factors. The original issue price of the Notes exceeds the estimated\nvalue of the Notes because costs associated with selling, structuring and hedging the Notes are included in the original issue price of\nthe Notes. These costs include the selling commissions, the projected profits, if any, that our affiliates expect to realize for assuming\nrisks inherent in hedging our obligations under the Notes, the estimated cost of hedging our obligations under the Notes and the fees,\nif any, paid for third-party data analytics and/or electronic platform services. See “The Estimated Value of the Notes” in\nthis pricing supplement.

The Estimated Value of the Notes Does Not Represent Future Values of the Notes and May Differ from Others’ Estimates\n— The estimated value of the Notes is determined by reference to internal pricing models of our affiliates when the terms of the\nNotes are set. This estimated value of the Notes is based on market conditions and other relevant factors existing at that time and assumptions\nabout market parameters, which can include volatility, dividend rates, interest rates and other factors. Different pricing models and\nassumptions could provide valuations for the Notes that are greater than or less than the estimated value of the Notes. In addition, market\nconditions and other relevant factors in the future may change, and any assumptions may prove to be incorrect. On future dates, the value\nof the Notes could change significantly based on, among other things, changes in market conditions, our or JPMorgan Chase & Co.’s\ncreditworthiness, interest rate movements and other relevant factors, which may impact the price, if any, at which JPMS would be willing\nto buy Notes from you in secondary market transactions. See “The Estimated Value of the Notes” in this pricing supplement.

The Estimated Value of the Notes Is Derived by Reference to an Internal Funding Rate — The internal funding rate used\nin the determination of the estimated value of the Notes may differ from the market-implied funding rate for vanilla fixed income instruments\nof a similar maturity issued by JPMorgan Chase & Co. or its affiliates. Any difference may be based on, among other things,\nour and our affiliates’ view of the funding value of the Notes as well as the higher issuance, operational and ongoing liability\nmanagement costs of the Notes in comparison to those costs for the conventional fixed income instruments of JPMorgan Chase & Co.\nThis internal funding rate is based on certain market inputs and assumptions, which may prove to be incorrect, and is intended to approximate\nthe prevailing market replacement funding rate for the Notes. The use of an internal funding rate and any potential changes to that rate\nmay have an adverse effect on the terms of the Notes and any secondary market prices of the Notes. See “The Estimated Value of the\nNotes” in this pricing supplement.

The Value of the Notes as Published by JPMS (and Which May Be Reflected on Customer Account Statements) May Be Higher Than the\nThen-Current Estimated Value of the Notes for a Limited Time Period — We generally expect that some of the costs included in\nthe original issue price of the Notes will be partially paid back to you in connection with any repurchases of your Notes by JPMS in an\namount that will decline to zero over an initial predetermined period. These costs can include selling commissions, projected hedging\nprofits, if any, and, in some circumstances, estimated hedging costs, our internal secondary market funding rates for structured debt\nissuances and the fees paid for third-party data analytics and/or electronic platform services. See “Secondary Market Prices of\nthe Notes” in this pricing supplement for additional information relating to this initial period. Accordingly, the estimated value\nof your Notes during this initial period may be lower than the value of the Notes as published by JPMS (and which may be shown on your\ncustomer account statements).

Secondary Market Prices of the Notes Will Likely Be Lower Than the Original Issue Price of the Notes — Any secondary\nmarket prices of the Notes will likely be lower than the original issue price of the Notes because, among other things, secondary market\nprices take into account our internal secondary market funding rates for structured debt issuances and, also, because secondary market\nprices may exclude selling commissions, projected hedging profits, if any, estimated hedging costs and fees, if any, paid for third-party\ndata analytics and/or electronic platform services that are included in the original issue price of the Notes. As a result, the price,\nif any, at which JPMS will be willing to buy Notes from you in secondary market transactions, if at all, is likely to be lower than the\noriginal issue price. Furthermore, if you sell your Notes, you will likely be charged a commission for secondary market transactions,\nor the price will likely reflect a dealer discount and/or fees for use of an electronic platform to facilitate secondary market activity.\nAny sale by you prior to the Maturity Date could result in a substantial loss to you. See the immediately following risk factor for information\nabout additional factors that will impact any secondary market prices of the Notes.

The Notes are not designed to be short-term\ntrading instruments. Accordingly, you should be able and willing to hold your Notes to maturity. See “— Risks Relating to\nthe Notes Generally — Lack of Liquidity” above.

Many Economic and Market Factors Will Impact the Value of the Notes —\nAs described under “The Estimated Value of the Notes” in this pricing supplement, the Notes can be thought of as\nsecurities that combine a fixed-income debt component with one or more derivatives. As a result, the factors that influence the values\nof fixed-income debt and derivative instruments will also influence the terms of the Notes at issuance and their value in the secondary\nmarket. Accordingly, the secondary market price of the Notes during their term will be impacted by a number of economic and market factors,\nwhich may either offset or magnify each other, aside from the selling commissions, projected hedging profits, if any, estimated hedging\ncosts and the levels of the Underlyings, including:

any actual or potential change in our or JPMorgan Chase & Co.’s creditworthiness or credit spreads;

customary bid-ask spreads for similarly sized trades;

our internal secondary market funding rates for structured debt issuances;

the actual and expected volatility in the levels of the Underlyings;

the time to maturity of the Notes;

the dividend rates on the equity securities underlying the Underlyings;

the actual or expected positive or negative correlation among the Underlyings, or the actual or expected absence of any such correlation;

interest and yield rates in the market generally;

the exchange rates and the volatility of the exchange rates between the U.S. dollar and each of the currencies in which the equity\nsecurities included in the Underlyings trade and the correlation among those rates and the levels of the Underlyings; and

a variety of other economic, financial, political, regulatory and judicial events.

Additionally, independent pricing vendors\nand/or third party broker-dealers may publish a price for the Notes, which may also be reflected on customer account statements. This\nprice may be different (higher or lower) than the price of the Notes, if any, at which JPMS may be willing to purchase your Notes in the\nsecondary market.

Risks Relating to the Underlyings

Non-U.S. Securities Risk — The equity\nsecurities included in each Underlying have been issued by non-U.S. companies. Investments in securities linked to the value of such non-U.S.\nequity securities involve risks associated with the home countries and/or the securities markets in the home countries of the issuers\nof those non-U.S. equity securities, including risks of volatility in those markets, governmental intervention in those markets and cross\nshareholdings in companies in certain countries. Also, there is generally less

publicly\navailable information about companies in some of these jurisdictions than there is about U.S. companies that are subject to the reporting\nrequirements of the SEC.

No Direct Exposure to Fluctuations in Foreign\nExchange Rates — The value of your Notes will not be adjusted for exchange rate fluctuations between the U.S. dollar and the\ncurrencies upon which the equity securities included in the Underlyings are based, although any currency fluctuations could affect the\nperformance of the Underlyings and, therefore, the Basket. Therefore, if the applicable currencies appreciate or depreciate relative to\nthe U.S. dollar over the term of the Notes, you will not receive any additional payment or incur any reduction in any payment on the Notes.

Historical Performance of the Basket Should Not Be Taken as an Indication of the Future Performance of the Basket During the Term\nof the Notes — The actual performance of the Basket over the term of the Notes may bear little relation to the historical performance\nof the Basket. The future performance of the Basket may differ significantly from its historical performance. It is impossible to predict\nwhether the level of the Basket will rise or fall. We cannot give you assurance that the performance of the Basket will not adversely\naffect any payment on the Notes.

\n \n \n

Hypothetical Examples and Return Table

Hypothetical terms only. Actual terms may vary.\nSee the cover page for actual offering terms.

The following table and hypothetical examples below illustrate the\npayment at maturity per $1,000 principal amount Note for a hypothetical range of Basket Returns from -100.00% to +50.00% on an offering\nof the Notes linked to a hypothetical Basket, reflect the Initial Basket Value of 100 and assume a hypothetical Participation Rate of\n101.00%. For historical data regarding the actual closing levels of the Underlyings, please see the historical information set forth under\n“The Underlyings” in this pricing supplement. The actual Participation Rate is specified on the cover of this pricing supplement.\nThe hypothetical payment at maturity examples set forth below are for illustrative purposes only and may not be the actual returns applicable\nto a purchaser of the Notes. The actual payment at maturity may be more or less than the amounts displayed below and will be determined\nbased on the actual terms of the Notes, including the Participation Rate and the Final Basket Value on the Final Valuation Date. You should\nconsider carefully whether the Notes are suitable to your investment goals. The numbers appearing in the table below have been rounded\nfor ease of analysis.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Final Basket Value	Basket Return (%)	Payment at Maturity ($)	Return at Maturity per \n$1,000 issue price (%)
150.00	50.00%	$1,505.00	50.50%
140.00	40.00%	$1,404.00	40.40%
130.00	30.00%	$1,303.00	30.30%
120.00	20.00%	$1,202.00	20.20%
110.00	10.00%	$1,101.00	10.10%
105.00	5.00%	$1,050.50	5.05%
102.00	2.00%	$1,020.20	2.02%
100.00	0.00%	$1,000.00	0.00%
95.00	-5.00%	$1,000.00	0.00%
90.00	-10.00%	$1,000.00	0.00%
80.00	-20.00%	$1,000.00	0.00%
70.00	-30.00%	$1,000.00	0.00%
60.00	-40.00%	$1,000.00	0.00%
50.00	-50.00%	$1,000.00	0.00%
40.00	-60.00%	$1,000.00	0.00%
30.00	-70.00%	$1,000.00	0.00%
20.00	-80.00%	$1,000.00	0.00%
10.00	-90.00%	$1,000.00	0.00%
0.00	-100.00%	$1,000.00	0.00%

Example 1 — The level of the Basket increases by 10% from\nthe Initial Basket Value of 100 to the Final Basket Value of 110.

Because the Basket Return is 10%, at maturity, JPMorgan Financial\nwill pay you your principal amount plus a return equal to 10.10%, resulting in a payment at maturity of $1,101 per $1,000 principal\namount Note, calculated as follows:

$1,000 + ($1,000 × Basket Return ×\nParticipation Rate)

$1,000 + ($1,000 × 10.00% × 101%) =\n$1,101

Example 2— The level of the Basket decreases by 50% from the\nInitial Basket Value of 100 to the Final Basket Value of 50.

Because the Basket Return is negative, at maturity, JPMorgan Financial\nwill pay you your principal amount of $1,000 per $1,000 principal amount Note.

If the Basket Return is zero or negative, investors will receive\nonly their principal amount at maturity and will not receive any positive return on their investment.

The hypothetical returns and hypothetical payments on the Notes shown\nabove apply only if you hold the Notes for their entire term. These hypotheticals do not reflect fees or expenses that would be\nassociated with any sale in the secondary market. If these fees and expenses were included, the hypothetical returns and hypothetical\npayments shown above would likely be lower.

\n \n \n

Hypothetical Examples of Calculations of the Closing Levels of the Basket

The examples below illustrate the hypothetical closing levels of the\nBasket on the Final Valuation Date under different hypothetical scenarios with the following assumptions (amounts have been rounded for\nease of reference):

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlyings	Index Weight	Initial Value
EURO STOXX 50^® Index	40.00%	100.00*
Nikkei 225 Index	25.00%	100.00*
FTSE^® 100 Index	17.50%	100.00*
Swiss Market Index	10.00%	100.00*
S&P/ASX 200 Index	7.50%	100.00*

\n \n \n

*The actual Initial Value for each Underlying is specified on the cover of this pricing supplement. The hypothetical Initial Value for each Underlying of 100.00 has been chosen for illustrative purposes only and does not represent the actual Initial Value for any Underlying. For historical data regarding the actual closing levels of each Underlying, please see the historical information set forth under “The EURO STOXX 50^® Index,” “The Nikkei 225 Index,” “The FTSE^® 100 Index,” ”The Swiss Market Index” and “The S&P/ASX 200 Index” in this pricing supplement.

Example 1 — On the Final Valuation Date, each Underlying\ncloses above its Initial Value.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlyings	Index Weight	Initial Value	Final Value	Underlying \n Return
EURO STOXX 50^® Index	40.00%	100.00	106.00	6.00%
Nikkei 225 Index	25.00%	100.00	105.50	5.50%
FTSE^® 100 Index	17.50%	100.00	104.00	4.00%
Swiss Market Index	10.00%	100.00	103.00	3.00%
S&P/ASX 200 Index	7.50%	100.00	103.00	3.00%
Closing Level of the Basket:	\n 100 × [1 + (6.00% × 40.00%) + (5.50% × 25.00%) + (4.00%\n × 17.50%) \n + (3.00% × 10.00%) + (3.00% × 7.50%)] = 105

A closing level of the Basket of 105 represents a 5% increase\nin the level of the Basket from the Initial Basket Value.

Example 2 — On the Final Valuation Date, each Underlying\ncloses below its Initial Value.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlyings	Index Weight	Initial Value	Final Value	Underlying \n Return
EURO STOXX 50^® Index	40.00%	100.00	88.00	-12.00%
Nikkei 225 Index	25.00%	100.00	80.00	-20.00%
FTSE^® 100 Index	17.50%	100.00	83.00	-17.00%
Swiss Market Index	10.00%	100.00	85.25	-14.75%
S&P/ASX 200 Index	7.50%	100.00	90.00	-10.00%
Closing Level of the Basket:	100 × [1 + (-12.00% × 40.00%) + (-20.00% × 25.00%) + (-17.00% × 17.50%) + (-14.75% × 10.00%) + (-10.00% × 7.50%)] = 85

A closing level of the Basket of 85 represents a 15% decline\nin the level of the Basket from the Initial Basket Value.

Example 3 — On the Final Valuation Date, the most heavily weighted\nUnderlying closes below its Initial Value, offsetting the increase of the other Underlyings.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlyings	Index Weight	Initial Value	Final Value	Underlying \n Return
EURO STOXX 50^® Index	40.00%	100.00	40.00	-60.00%
Nikkei 225 Index	25.00%	100.00	105.00	5.00%
FTSE^® 100 Index	17.50%	100.00	110.00	10.00%
Swiss Market Index	10.00%	100.00	130.00	30.00%
S&P/ASX 200 Index	7.50%	100.00	130.00	30.00%
Closing Level of the Basket:	\n 100 × [1 + (-60.00% × 40.00%) + (5.00% × 25.00%) + (10.00%\n × 17.50%) \n + (30.00% × 10.00%) + (30.00% × 7.50%)] =\n 84.25

A closing level of the Basket of 84.25 represents a 15.75% decline\nin the level of the Basket from the Initial Basket Value.

Because the Basket is unequally weighted, increases in the levels of\nthe lower weighted Underlyings are offset by the decrease in the level of the most heavily weighted Underlying. In this example, even\nthough the Underlying Return of each of the Nikkei 225 Index, the FTSE^® 100 Index, the Swiss Market Index and the S&P/ASX\n200 Index are positive, the significant negative Underlying Return of the EURO STOXX 50^® Index results in a Final Basket\nValue that is less than the Initial Basket Value.

Example 4 — On the Final Valuation Date, the most heavily weighted\nUnderlying closes above its Initial Value, but this increase is offset by the decline of the other Underlyings.

\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n

Underlyings	Index Weight	Initial Value	Final Value	Underlying \n Return
EURO STOXX 50^® Index	40.00%	100.00	150.00	50.00%
Nikkei 225 Index	25.00%	100.00	25.00	-75.00%
FTSE^® 100 Index	17.50%	100.00	25.00	-75.00%
Swiss Market Index	10.00%	100.00	25.00	-75.00%
S&P/ASX 200 Index	7.50%	100.00	75.00	-25.00%
Closing Level of the Basket:	100 × [1 + (50.00% × 40.00%) + (-75.00% × 25.00%) + (-75.00% × 17.50%) \n+ (-75.00% × 10.00%) + (-25.00% × 7.50%)] = 78.75

A closing level of the Basket of 78.75 represents a 21.25% decline\nin the level of the Basket from the Initial Basket Value.

Although the Basket is unequally weighted, significant decreases in the\nlevels of the lower weighted Underlyings more than offset the significant increase in the level of the most heavily weighted Underlying.\nIn this example, even though the Underlying Return of the EURO STOXX 50^® Index is positive, the significant negative Underlying\nReturn of each of the Nikkei 225 Index, the FTSE^® 100 Index, the Swiss Market Index and the S&P/ASX 200 Index together\nresults in a Final Basket Value that is less than the Initial Basket Value.

\n \n \n

The Basket

The following graph shows the daily hypothetical performance\nof the Basket from January 4, 2016 through October 14, 2026, assuming that the closing level of the Basket on January 4, 2016 was 100\nand that the Underlyings on those dates were weighted as specified in the “Final Terms” in this pricing supplement. The hypothetical\nhistorical daily Basket performance data in this graph was determined using the closing levels of each Underlying reported by the Bloomberg\nProfessional^® service (“Bloomberg”) for those dates, without independent verification. The hypothetical historical\nperformance of the Basket displayed below is a reflection of the aggregated historical performance of the Underlyings as described above.

Past performance of the Basket is not indicative of the\nfuture performance of the Basket. See “Key Risks — Risks Relating to the Underlyings — Historical Performance\nof the Basket Should Not Be Taken as an Indication of the Future Performance of the Basket During the Term of the Notes.”

$\"\"$

\n \n \n

The Underlyings

Included on the following pages is a brief description of the\nUnderlyings. This information has been obtained from publicly available sources, without independent verification. We obtained the closing\nlevels information set forth below from Bloomberg, without independent verification. You should not take the historical performance of\nany Underlying as an indication of future performance.

\n \n \n

The EURO STOXX 50^® Index

The EURO STOXX 50^® Index is a free-float market\ncapitalization-weighted index composed of 50 of the largest stocks in terms of free-float market capitalization traded on the major exchanges\nof 11 Eurozone countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.\nThe EURO STOXX 50^® Index and STOXX^® are the intellectual property (including registered trademarks) of STOXX\nLimited and/or its licensors (the “Licensors”), which are used under license. The Notes based on the EURO STOXX 50^®\nIndex are in no way sponsored, endorsed, sold or promoted by STOXX Limited and its Licensors and neither STOXX Limited nor any of its\nLicensors shall have any liability with respect thereto. For additional information about the EURO STOXX 50^® Index, see\n“Equity Index Descriptions — The STOXX Benchmark Indices” in the accompanying underlying supplement.

Historical Information Regarding the EURO STOXX 50^®\nIndex

The graph below illustrates\nthe daily performance of the EURO STOXX 50^® Index from January 4, 2016 through October 14, 2026, based on information from\nBloomberg, without independent verification. The closing level of the EURO STOXX 50^® Index on October 14, 2026 was 6,190.37.\nWe obtained the closing levels of the EURO STOXX 50^® Index above and below from Bloomberg, without independent verification.

Past performance of the EURO STOXX 50^®\nIndex is not indicative of the future performance of the EURO STOXX 50^® Index.

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\n \n \n

The Nikkei 225 Index

The\nNikkei 225 Index is a stock index that measures the composite price performance of selected Japanese stocks. The Nikkei 225 Index is currently\nbased on 225 underlying stocks (the “Nikkei Underlying Stocks”) trading on the Tokyo Stock Exchange (“TSE”) Prime\nMarket, representing a broad cross-section of Japanese industries. All Nikkei Underlying Stocks are stocks listed on the TSE Prime Market.\nStocks listed on the TSE Prime Market are among the most actively traded stocks on the TSE. For additional information about the Nikkei\n225 Index, see “Equity Index Descriptions ― The Nikkei 225\nIndex” in the accompanying underlying supplement.

Historical\nInformation Regarding the Nikkei 225 Index

The graph below illustrates the daily performance of the Nikkei\n225 Index from January 4, 2016 through October 14, 2026, based on information from Bloomberg, without independent verification. The closing\nlevel of the Nikkei 225 Index on October 14, 2026 was 67,744.29. We obtained the closing levels of the Nikkei 225 Index above and below\nfrom Bloomberg, without independent verification.

Past performance of the Nikkei 225 Index is not indicative\nof the future performance of the Nikkei 225 Index.

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\n \n \n

The FTSE^® 100 Index

The FTSE^® 100 Index measures the composite\nprice performance of stocks of the 100 largest U.K. companies (determined on the basis of market capitalization) traded on the London\nStock Exchange. For additional information about the FTSE^® 100 Index, see “Equity Index Descriptions — The\nFTSE^® 100 Index” in the accompanying underlying supplement.

Historical Information Regarding the FTSE^®\n100 Index

The graph below illustrates\nthe daily performance of the FTSE^® 100 Index from January 4, 2016 through October 14, 2026, based on information from Bloomberg,\nwithout independent verification. The closing level of the FTSE^® 100 Index on October 14, 2026 was 10,724.86. We obtained\nthe closing levels of the FTSE^® 100 Index above and below from Bloomberg, without independent verification.

Past performance of the FTSE^® 100 Index\nis not indicative of the future performance of the FTSE^® 100 Index.

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\n \n \n

The Swiss Market Index

The Swiss Market Index (“SMI^®”)\nis a free float-adjusted market capitalization-weighted price return index of the Swiss equity market. The SMI^® comprises\nthe 20 most highly capitalized and liquid stocks of the Swiss Performance Index^®. For additional information about the\nSwiss Market Index, see “Equity Index Descriptions — The Swiss Market Index” in the accompanying underlying supplement.

Historical\nInformation Regarding the Swiss Market Index

The graph below illustrates the daily performance of the Swiss\nMarket Index from January 4, 2016 through October 14, 2026, based on information from Bloomberg, without independent verification. The\nclosing level of the Swiss Market Index on October 14, 2026 was 14,129.93. We obtained the closing levels of the Swiss Market Index above\nand below from Bloomberg, without independent verification.

Past performance of the Swiss Market Index is not indicative\nof the future performance of the Swiss Market Index.

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\n \n \n

The S&P/ASX 200 Index

The S&P/ASX 200 Index is designed to be the primary gauge\nfor the Australian equity market, and it is recognized as an investable benchmark in Australia. The S&P/ASX 200 Index measures the\nperformance of the 200 largest and most liquid index-eligible stocks listed on the Australian Securities Exchange by float-adjusted market\ncapitalization. For additional information about the S&P/ASX 200 Index, see “Equity Index Descriptions — The S&P/ASX\n200 Index” in the accompanying underlying supplement.

Historical\nInformation Regarding the S&P/ASX 200 Index

The graph below illustrates the daily performance of the S&P/ASX\n200 Index from January 4, 2016 through October 14, 2026, based on information from Bloomberg, without independent verification. The closing\nlevel of the S&P/ASX 200 Index on October 14, 2026 was 8,727.867. We obtained the closing levels of the S&P/ASX 200 Index above\nand below from Bloomberg, without independent verification.

Past performance of the S&P/ASX 200 Index is not\nindicative of the future performance of the S&P/ASX 200 Index.

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\n \n \n

Supplemental Plan of Distribution

We and JPMorgan Chase & Co. have agreed to indemnify\nUBS and JPMS against liabilities under the Securities Act of 1933, as amended, or to contribute to payments that UBS may be required to\nmake relating to these liabilities as described in the prospectus supplement and the prospectus. We have agreed that UBS may sell all\nor a part of the Notes that it purchases from us to the public or its affiliates at the price to public indicated on the cover hereof.

Subject to regulatory constraints, JPMS intends to offer to purchase\nthe Notes in the secondary market, but it is not required to do so.

We or our affiliates may enter into swap agreements or related hedge\ntransactions with one of our other affiliates or unaffiliated counterparties in connection with the sale of the Notes, and JPMS and/or\nan affiliate may earn additional income as a result of payments pursuant to the swap or related hedge transactions. See “Supplemental\nUse of Proceeds” in this pricing supplement and “Use of Proceeds and Hedging” in the accompanying product supplement.

\n \n \n

The Estimated Value of the Notes

The estimated value of the Notes\nset forth on the cover of this pricing supplement is equal to the sum of the values of the following hypothetical components: (1) a fixed-income\ndebt component with the same maturity as the Notes, valued using the internal funding rate described below, and (2) the derivative or\nderivatives underlying the economic terms of the Notes. The estimated value of the Notes does not represent a minimum price at which JPMS\nwould be willing to buy your Notes in any secondary market (if any exists) at any time. The internal funding rate used in the determination\nof the estimated value of the Notes may differ from the market-implied funding rate for vanilla fixed income instruments of a similar\nmaturity issued by JPMorgan Chase & Co. or its affiliates. Any difference may be based on, among other things, our and our\naffiliates’ view of the funding values of the Notes as well as the higher issuance, operational and ongoing liability management\ncosts of the Notes in comparison to those costs for the conventional fixed income instruments of JPMorgan Chase & Co. This\ninternal funding rate is based on certain market inputs and assumptions, which may prove to be incorrect, and is intended to approximate\nthe prevailing market replacement funding rate for the Notes. The use of an internal funding rate and any potential changes to that rate\nmay have an adverse effect on the terms of the Notes and any secondary market prices of the Notes. For additional information, see “Key\nRisks — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — The Estimated Value of the Notes\nIs Derived by Reference to an Internal Funding Rate” in this pricing supplement. The value of the derivative or derivatives underlying\nthe economic terms of the Notes is derived from internal pricing models of our affiliates. These models are dependent on inputs such as\nthe traded market prices of comparable derivative instruments and on various other inputs, some of which are market-observable, and which\ncan include volatility, dividend rates, interest rates and other factors, as well as assumptions about future market events and/or environments.\nAccordingly, the estimated value of the Notes is determined when the terms of the Notes are set based on market conditions and other relevant\nfactors and assumptions existing at that time. See “Key Risks — Risks Relating to the Estimated Value and Secondary Market\nPrices of the Notes — The Estimated Value of the Notes Does Not Represent Future Values of the Notes and May Differ from Others’\nEstimates” in this pricing supplement.

The estimated value of the Notes is lower than the original issue price\nof the Notes because costs associated with selling, structuring and hedging the Notes are included in the original issue price of the\nNotes. These costs include the selling commissions paid to UBS, the projected profits, if any, that our affiliates expect to realize for\nassuming risks inherent in hedging our obligations under the Notes, the estimated cost of hedging our obligations under the Notes and\nthe fees, if any, paid for third-party data analytics and/or electronic platform services. Because hedging our obligations entails risk\nand may be influenced by market forces beyond our control, this hedging may result in a profit that is more or less than expected, or\nit may result in a loss. We or one or more of our affiliates will retain any profits realized in hedging our obligations under the Notes.\nSee “Key Risks — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — The Estimated Value\nof the Notes Is Lower Than the Original Issue Price (Price to Public) of the Notes” in this pricing supplement.

\n \n \n

Secondary Market Prices of the Notes

For information about factors that will impact any secondary market\nprices of the Notes, see “Key Risks — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes —\nSecondary Market Prices of the Notes Will Be Impacted by Many Economic and Market Factors” in this pricing supplement. In addition,\nwe generally expect that some of the costs included in the original issue price of the Notes will be partially paid back to you in connection\nwith any repurchases of your Notes by JPMS in an amount that will decline to zero over an initial predetermined period that is intended\nto be up to twelve months. The length of any such initial period reflects secondary market volumes for the Notes, the structure of the\nNotes, whether our affiliates expect to earn a profit in connection with our hedging activities, the estimated costs of hedging the Notes\nand when these costs are incurred, as determined by our affiliates. See “Key Risks — Risks Relating to the Estimated Value\nand Secondary Market Prices of the Notes — The Value of the Notes as Published by JPMS (and Which May Be Reflected on Customer Account\nStatements) May Be Higher Than the Then-Current Estimated Value of the Notes for a Limited Time Period” in this pricing supplement.

\n \n \n

Supplemental Use of Proceeds

The Notes are offered to meet investor demand for products that reflect\nthe risk-return profile and market exposure provided by the Notes. See “Hypothetical Examples and Return Table” and “Hypothetical\nExamples of Calculations of the Closing Levels of the Basket” in this pricing supplement for an illustration of the risk-return\nprofile of the Notes and “The Underlyings” in this pricing supplement for a description of the market exposure provided by\nthe Notes.

The original issue price of the Notes is equal to the estimated value\nof the Notes plus the selling commissions paid to UBS, plus (minus) the projected profits (losses) that our affiliates expect to realize\nfor assuming risks inherent in hedging our obligations under the Notes, plus the estimated cost of hedging our obligations under the Notes,\nplus the fees, if any, paid for third-party data analytics and/or electronic platform services.

\n \n \n

Validity of the Notes and the Guarantee

In the opinion of Davis Polk & Wardwell LLP, as special products\ncounsel to JPMorgan Financial and JPMorgan Chase & Co., when the Notes offered by this pricing supplement have been issued\nby JPMorgan Financial pursuant to the indenture, the trustee and/or paying agent has made, in accordance with the instructions from JPMorgan\nFinancial, the appropriate entries or notations in its records relating to the master global note that represents such Notes (the “master\nnote”), and such Notes have been delivered against payment as contemplated herein, such Notes will be valid and binding obligations\nof JPMorgan Financial and the related guarantee will constitute a valid and binding obligation of JPMorgan Chase & Co.,\nenforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors’ rights\ngenerally, concepts of reasonableness and equitable principles of general applicability (including, without limitation, concepts of good\nfaith, fair dealing and the lack of bad faith), provided that such counsel expresses no opinion as to (x)(i) the effect of fraudulent\nconveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (ii) any provision of the\nindenture that purports to avoid the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law by limiting\nthe amount of JPMorgan Chase & Co.’s obligation under the related guarantee or (y) the validity, legally binding effect\nor enforceability of any provision that permits holders to collect any portion of the stated principal amount upon acceleration of the\nNotes to the extent determined to constitute unearned interest. This opinion is given as of the date hereof and is limited to the laws\nof the State of New York, the General Corporation Law of the State of Delaware and the Delaware Limited Liability Company Act, except\nthat such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable to JPMorgan Financial or JPMorgan Chase & Co.,\nthe indenture, the Notes, the related guarantee (together with the indenture and the Notes, the “Documents”) or such transactions\nsolely because such law, rule or regulation is part of a regulatory regime applicable to any party to any of the Documents or any of its\naffiliates due to the specific assets or business of such party or such affiliate or (ii) any law, rule or regulation relating to national\nsecurity. In addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery\nof the indenture and its authentication of the master note and the validity, binding nature and enforceability of the indenture with respect\nto the trustee, all as stated in the letter of such counsel dated February 24, 2026, which was filed as an exhibit to the Registration\nStatement on Form S-3 by JPMorgan Financial and JPMorgan Chase & Co. on February 24, 2026.

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