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$\"\"$

October 23, 2026 Registration Statement Nos. 333-293684 and 333-293684-01; Rule 424(b)(2)

Pricing supplement to product supplement no. 3-I dated April 17, 2026, underlying supplement no. 1-I dated April 17, 2026 and

the prospectus and prospectus supplement, each dated April 17, 2026

JPMorgan Chase Financial Company LLC

Structured Investments

$1,364,000

Uncapped Dual Directional Buffered Return Enhanced Notes

Linked to the Least Performing of the ARK Innovation ETF,

the Nasdaq-100® Technology Sector IndexSM and the Russell

2000® Index due November 29, 2027

Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.

• The notes are designed for investors who seek an uncapped return of 1.05 times any appreciation, or a capped,

unleveraged return equal to the absolute value of any depreciation (up to the Buffer Amount of 20.00%), of the least

performing of the ARK Innovation ETF, the Nasdaq-100® Technology Sector IndexSM and the Russell 2000® Index, which

we refer to as the Underlyings, at maturity.

• Investors should be willing to forgo interest and dividend payments and be willing to lose up to 80.00% of their principal

amount at maturity.

• The ARK Innovation ETF is actively managed and is subject to additional risks. Unlike a passively managed

fund, an actively managed fund does not attempt to track an index or other benchmark, and the investment

decisions for an actively managed fund are instead made by its investment adviser. See “Selected Risk

Considerations — Risks Relating to the Underlyings — An Investment in the Notes Is Subject to Risks Associated with

Actively Managed Funds with Respect to the Fund” in this pricing supplement for more information.

• The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to

as JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Any

payment on the notes is subject to the credit risk of JPMorgan Financial, as issuer of the notes, and the credit

risk of JPMorgan Chase & Co., as guarantor of the notes.

• Payments on the notes are not linked to a basket composed of the Underlyings. Payments on the notes are linked to the

performance of each of the Underlyings individually, as described below.

• Minimum denominations of $1,000 and integral multiples thereof

• The notes priced on October 23, 2026 and are expected to settle on or about October 28, 2026.

• CUSIP: 46661QM85

Investing in the notes involves a number of risks. See “Risk Factors” beginning on page S-2 of the accompanying

prospectus supplement, “Risk Factors” beginning on page PS-12 of the accompanying product supplement and

“Selected Risk Considerations” beginning on page PS-4 of this pricing supplement.

Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved

of the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement,

underlying supplement, prospectus supplement and prospectus. Any representation to the contrary is a criminal offense.

Price to Public (1)

Fees and Commissions (2)

Proceeds to Issuer

Per note

$1,000

$995

Total

$1,364,000

$6,820

$1,357,180

(1) See “Supplemental Use of Proceeds” in this pricing supplement for information about the components of the price to public of the

notes.

(2) J.P. Morgan Securities LLC, which we refer to as JPMS, acting as agent for JPMorgan Financial, will pay all of the selling

commissions of $5.00 per $1,000 principal amount note it receives from us to other affiliated or unaffiliated dealers. See “Plan of

Distribution (Conflicts of Interest)” in the accompanying product supplement.

The estimated value of the notes, when the terms of the notes were set, was $976.90 per $1,000 principal amount note.

See “The Estimated Value of the Notes” in this pricing supplement for additional information.

The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency

and are not obligations of, or guaranteed by, a bank.

$\"\"$

PS-1 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

Key Terms

Issuer: JPMorgan Chase Financial Company LLC, a direct,

wholly owned finance subsidiary of JPMorgan Chase & Co.

Guarantor: JPMorgan Chase & Co.

Underlyings: The ARK Innovation ETF (Bloomberg ticker:

ARKK) (the “Fund”) and the Nasdaq-100® Technology Sector

IndexSM (Bloomberg ticker: NDXT) and the Russell 2000® Index

(Bloomberg ticker: RTY) (each of the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index, an “Index” and

collectively, the “Indices”) (each of the Fund and the Indices, an

“Underlying” and collectively, the “Underlyings”)

Upside Leverage Factor: 1.05

Buffer Amount: 20.00%

Pricing Date: October 23, 2026

Original Issue Date (Settlement Date): On or about October

28, 2026

Observation Date*: November 23, 2027

Maturity Date*: November 29, 2027

* 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 “Selected Risk

Considerations — Risks Relating to the Notes Generally — We May

Accelerate Your Notes If an Acceleration Event Occurs” in this

pricing supplement

Payment at Maturity:

If the Final Value of each Underlying is greater than its Initial

Value, your payment at maturity per $1,000 principal amount

note will be calculated as follows:

$1,000 + ($1,000 × Least Performing Underlying Return ×

Upside Leverage Factor)

If (i) the Final Value of one or more Underlyings is greater than

its Initial Value and the Final Value of the other Underlying or

Underlyings is equal to its Initial Value or is less than its Initial

Value by up to the Buffer Amount or (ii) the Final Value of each

Underlying is equal to its Initial Value or is less than its Initial

Value by up to the Buffer Amount, your payment at maturity per

$1,000 principal amount note will be calculated as follows:

$1,000 + ($1,000 × Absolute Underlying Return of the Least

Performing Underlying)

This payout formula results in an effective cap of 20.00% on

your return at maturity if the Least Performing Underlying

Return is negative. Under these limited circumstances, your

maximum payment at maturity is $1,200.00 per $1,000 principal

amount note.

If the Final Value of any Underlying is less than its Initial Value

by more than the Buffer Amount, your payment at maturity per

$1,000 principal amount note will be calculated as follows:

$1,000 + [$1,000 × (Least Performing Underlying Return +

Buffer Amount)]

If the Final Value of any Underlying is less than its Initial Value

by more than the Buffer Amount, you will lose some or most of

your principal amount at maturity.

Absolute Underlying Return: With respect to each Underlying,

the absolute value of its Underlying Return. For example, if the

Underlying Return of an Underlying is -5%, its Absolute

Underlying Return will equal 5%.

Least Performing Underlying: The Underlying with the Least

Performing Underlying Return

Least Performing Underlying Return: The lowest of the

Underlying Returns of the Underlyings

Underlying Return:

With respect to each Underlying,

(Final Value – Initial Value)

Initial Value

Initial Value: With respect to each Underlying, the closing value

of that Underlying on the Pricing Date, which was $81.99 for the

Fund, 16,433.04 for the Nasdaq-100® Technology Sector

IndexSM and 2,775.899 for the Russell 2000® Index

Final Value: With respect to each Underlying, the closing value

of that Underlying on the Observation Date

Share Adjustment Factor: The Share Adjustment Factor is

referenced in determining the closing value of the Fund and is

set equal to 1.0 on the Pricing Date. The Share Adjustment

Factor is subject to adjustment upon the occurrence of certain

events affecting the Fund. See “The Underlyings — Funds —

Anti-Dilution Adjustments” in the accompanying product

supplement for further information.

$\"\"$

PS-2 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

Hypothetical Payout Profile

The following table and graph illustrate the hypothetical total return and payment at maturity on the notes linked to three hypothetical

Underlyings. The “total return” as used in this pricing supplement is the number, expressed as a percentage, that results from

comparing the payment at maturity per $1,000 principal amount note to $1,000. The hypothetical total returns and payments set forth

below assume the following:

• an Initial Value for the Least Performing Underlying of 100.00;

• an Upside Leverage Factor of 1.05; and

• a Buffer Amount of 20.00%.

The hypothetical Initial Value of the Least Performing Underlying of 100.00 has been chosen for illustrative purposes only and does not

represent the actual Initial Value of any Underlying. The actual Initial Value of each Underlying is the closing value of that Underlying

on the Pricing Date and is specified under “Key Terms — Initial Value” in this pricing supplement. For historical data regarding the

actual closing values of each Underlying, please see the historical information set forth under “The Underlyings” in this pricing

supplement.

Each hypothetical total return or hypothetical payment at maturity set forth below is for illustrative purposes only and may not be the

actual total return or payment at maturity applicable to a purchaser of the notes. The numbers appearing in the following table and

graph have been rounded for ease of analysis.

Final Value of the

Least Performing

Underlying

Least Performing

Underlying Return

Absolute Underlying

Return of the Least

Performing Underlying

Total Return on the

Notes

Payment at Maturity

165.00

65.00%

N/A

68.25%

$ 1,682.50

150.00

50.00%

N/A

52.50%

$ 1,525.00

140.00

40.00%

N/A

42.00%

$ 1,420.00

130.00

30.00%

N/A

31.50%

$ 1,315.00

120.00

20.00%

N/A

21.00%

$ 1,210.00

110.00

10.00%

N/A

10.50%

$ 1,105.00

105.00

5.00%

N/A

5.25%

$ 1,052.50

101.00

1.00%

N/A

1.05%

$ 1,010.50

100.00

0.00%

$1,000.00

95.00

-5.00%

5.00%

$1,050.00

90.00

-10.00%

10.00%

$1,100.00

80.00

-20.00%

20.00%

$1,200.00

70.00

-30.00%

N/A

-10.00%

$900.00

60.00

-40.00%

N/A

-20.00%

$800.00

50.00

-50.00%

N/A

-30.00%

$700.00

40.00

-60.00%

N/A

-40.00%

$600.00

30.00

-70.00%

N/A

-50.00%

$500.00

20.00

-80.00%

N/A

-60.00%

$400.00

10.00

-90.00%

N/A

-70.00%

$300.00

0.00

-100.00%

N/A

-80.00%

$200.00

$\"\"$

PS-3 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

The following graph demonstrates the hypothetical payments at maturity on the notes for a range of Least Performing Underlying

Returns. There can be no assurance that the performance of the Least Performing Underlying will result in the return of any of your

principal amount in excess of $200.00 per $1,000 principal amount note, subject to the credit risks of JPMorgan Financial and

JPMorgan Chase & Co.

How the Notes Work

Underlying Appreciation Upside Scenario:

If the Final Value of each Underlying is greater than its Initial Value, investors will receive at maturity the $1,000 principal amount plus a

return equal to the Least Performing Underlying Return times the Upside Leverage Factor of 1.05.

• If the closing value of the Least Performing Underlying increases 10.00%, investors will receive at maturity a return equal to

10.50%, or $1,105.00 per $1,000 principal amount note.

Underlying Par or Underlying Depreciation Upside Scenario:

If (i) the Final Value of one or more Underlyings is greater than its Initial Value and the Final Value of the other Underlying or

Underlyings is equal to its Initial Value or is less than its Initial Value by up to the Buffer Amount of 20.00% or (ii) the Final Value of

each Underlying is equal to its Initial Value or is less than its Initial Value by up to the Buffer Amount of 20.00%, investors will receive at

maturity the $1,000 principal amount plus a return equal to the Absolute Underlying Return of the Least Performing Underlying.

• For example, if the closing value of the Least Performing Underlying declines 5.00%, investors will receive at maturity a return

equal to 5.00%, or $1,050.00 per $1,000 principal amount note.

Downside Scenario:

If the Final Value of any Underlying is less than its Initial Value by more than the Buffer Amount of 20.00%, investors will lose 1% of the

principal amount of their notes for every 1% that the Final Value of the Least Performing Underlying is less than its Initial Value by more

than the Buffer Amount.

• For example, if the closing value of the Least Performing Underlying declines 60.00%, investors will lose 40.00% of their principal

amount and receive only $600.00 per $1,000 principal amount note at maturity, calculated as follows:

$1,000 + [$1,000 × (-60.00% + 20.00%)] = $600.00

The hypothetical returns and hypothetical payments on the notes shown above apply only if you hold the notes for their entire term.

These hypotheticals do not reflect the fees or expenses that would be associated with any sale in the secondary market. If these fees

and expenses were included, the hypothetical returns and hypothetical payments shown above would likely be lower.

$\"\"$

PS-4 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

Selected Risk Considerations

An investment in the notes involves significant risks. These risks are explained in more detail in the “Risk Factors” sections of the

accompanying prospectus supplement and product supplement.

Risks Relating to the Notes Generally

• YOUR INVESTMENT IN THE NOTES MAY RESULT IN A LOSS —

The notes do not guarantee any return of principal. If the Final Value of any Underlying is less than its Initial Value by more than

20.00%, you will lose 1% of the principal amount of your notes for every 1% that the Final Value of the Least Performing

Underlying is less than its Initial Value by more than 20.00%. Accordingly, under these circumstances, you will lose up to 80.00%

of your principal amount at maturity.

• YOUR MAXIMUM GAIN ON THE NOTES IS LIMITED BY THE BUFFER AMOUNT IF THE LEAST PERFORMING

UNDERLYING RETURN IS NEGATIVE —

Because the payment at maturity will not reflect the Absolute Underlying Return of the Least Performing Underlying if its Final

Value is less than its Initial Value by more than the Buffer Amount, the Buffer Amount is effectively a cap on your return at maturity

if the Least Performing Underlying Return is negative. The maximum payment at maturity if the Least Performing Underlying

Return is negative is $1,200.00 per $1,000 principal amount note.

• CREDIT RISKS OF JPMORGAN FINANCIAL AND JPMORGAN CHASE & CO. —

Investors are dependent on our and JPMorgan Chase & Co.’s ability to pay all amounts due on the notes. Any actual or potential

change in our or JPMorgan Chase & Co.’s creditworthiness or credit spreads, as determined by the market for taking that credit

risk, is likely to adversely affect the value of the notes. If we and JPMorgan Chase & Co. were to default on our payment

obligations, you may not receive any amounts owed to you under the notes and you could lose your entire investment.

• AS A FINANCE SUBSIDIARY, JPMORGAN FINANCIAL HAS NO INDEPENDENT ACTIVITIES AND HAS LIMITED ASSETS —

As a finance subsidiary of JPMorgan Chase & Co., we have no independent activities beyond the issuance and administration of

our securities and the collection of intercompany obligations. Aside from the initial capital contribution from JPMorgan Chase &

Co., substantially all of our assets relate to obligations of JPMorgan Chase & Co. to make payments under loans made by us to

JPMorgan Chase & Co. or under other intercompany agreements. As a result, we are dependent upon payments from JPMorgan

Chase & Co. to meet our obligations under the notes. We are not an operating subsidiary of JPMorgan Chase & Co. and in a

bankruptcy or resolution of JPMorgan Chase & Co. we are not expected to have sufficient resources to meet our obligations in

respect of the notes as they come due. If JPMorgan Chase & Co. does not make payments to us and we are unable to make

payments on the notes, you may have to seek payment under the related guarantee by JPMorgan Chase & Co., and that

guarantee will rank pari passu with all other unsecured and unsubordinated obligations of JPMorgan Chase & Co. For more

information, see “Risk Factors — Holders of securities issued by JPMorgan Financial may be subject to losses if JPMorgan Chase

& Co. were to enter into a resolution” in the accompanying prospectus supplement.

• YOU ARE EXPOSED TO THE RISK OF DECLINE IN THE VALUE OF EACH UNDERLYING —

Payments on the notes are not linked to a basket composed of the Underlyings and are contingent upon the performance of each

individual Underlying. Poor performance by any of the Underlyings over the term of the notes may negatively affect your payment

at maturity and will not be offset or mitigated by positive performance by any other Underlying.

• YOUR PAYMENT AT MATURITY WILL BE DETERMINED BY THE LEAST PERFORMING UNDERLYING.

• THE NOTES DO NOT PAY INTEREST.

• YOU WILL NOT RECEIVE DIVIDENDS ON THE FUND OR THE SECURITIES INCLUDED IN OR HELD BY ANY UNDERLYING

OR HAVE ANY RIGHTS WITH RESPECT TO THE FUND OR THOSE SECURITIES.

• WE MAY ACCELERATE YOUR NOTES IF AN ACCELERATION EVENT OCCURS —

Upon the announcement or occurrence of an acceleration event, we may, in our sole and absolute discretion, accelerate the

payment on your notes and pay you an amount determined by the calculation agent in good faith and in a commercially reasonable

manner by reference to the values of any fixed-income debt component and any derivatives underlying the economic terms of the

notes as of the date of the notice of acceleration. An acceleration event means a Fund is delisted, liquidated or otherwise

terminated and the calculation agent determines, in its sole discretion, that no successor fund is available. If the payment on your

notes is accelerated, your investment may result in a loss, and you may not be able to reinvest your money in a comparable

$\"\"$

PS-5 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

investment. Please see “The Underlyings — Funds — Discontinuation or Modification of a Fund” in the accompanying product

supplement for more information.

• LACK OF LIQUIDITY —

The notes will not be listed on any securities exchange. Accordingly, the price at which you 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. You may not be able to sell your notes. The notes

are not designed to be short-term trading instruments. Accordingly, you should be able and willing to hold your notes to maturity.

Risks Relating to Conflicts of Interest

• POTENTIAL CONFLICTS —

We and our affiliates play a variety of roles in connection with the notes. In performing these duties, our and JPMorgan Chase &

Co.’s economic interests are potentially adverse to your interests as an investor in the notes. It is possible that hedging or trading

activities of ours or our affiliates in connection with the notes could result in substantial returns for us or our affiliates while the

value of the notes declines. Please refer to “Risk Factors — Risks Relating to Conflicts of Interest” in the accompanying product

supplement.

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

• THE ESTIMATED VALUE OF THE NOTES IS LOWER THAN THE ORIGINAL ISSUE PRICE (PRICE TO PUBLIC) OF THE

NOTES —

The estimated value of the notes is only an estimate determined by reference to several factors. The original issue price of the

notes exceeds the estimated value of the notes because costs associated with selling, structuring and hedging the notes are

included in the original issue price of the notes. These costs include the selling commissions, the projected profits, if any, that our

affiliates expect to realize for assuming risks inherent in hedging our obligations under the notes, the estimated cost of hedging our

obligations under the notes and the fees, if any, paid for third-party data analytics and/or electronic platform services. See “The

Estimated Value of the Notes” in this pricing supplement.

• THE ESTIMATED VALUE OF THE NOTES DOES NOT REPRESENT FUTURE VALUES OF THE NOTES AND MAY DIFFER

FROM OTHERS’ ESTIMATES —

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 in the determination of the estimated value of the notes may differ from the market-implied funding

rate for vanilla fixed income instruments of a similar maturity issued by JPMorgan Chase & Co. or its affiliates. Any difference may

be based on, among other things, our and our affiliates’ view of the funding value of the notes as well as the higher issuance,

operational and ongoing liability management costs of the notes in comparison to those costs for the conventional fixed income

instruments of JPMorgan Chase & Co. This internal funding rate is based on certain market inputs and assumptions, which may

prove to be incorrect, and is intended to approximate the prevailing market replacement funding rate for the notes. The use of an

internal funding rate and any potential changes to that rate may have an adverse effect on the terms of the notes and any

secondary market prices of the notes. See “The Estimated Value of the Notes” 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 THEN-CURRENT ESTIMATED VALUE OF THE NOTES FOR A LIMITED TIME

PERIOD —

We 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 with any repurchases of your notes by JPMS in an amount that will decline to zero over an initial predetermined period.

See “Secondary Market Prices of the Notes” in this pricing supplement for additional information relating to this initial period.

Accordingly, the estimated value of 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 customer account statements).

• SECONDARY MARKET PRICES OF THE NOTES WILL LIKELY BE LOWER THAN THE ORIGINAL ISSUE PRICE OF THE

NOTES —

Any secondary market prices of the notes will likely be lower than the original issue price of the notes because, among other

things, secondary market prices take into account our internal secondary market funding rates for structured debt issuances and,

also, because secondary market prices may exclude selling commissions, projected hedging profits, if any, estimated hedging

costs and fees, if any, paid for third-party data analytics and/or electronic platform services that are included in the original issue

$\"\"$

PS-6 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

price of the notes. As a result, the price, if any, at which JPMS will be willing to buy the notes from you in secondary market

transactions, if at all, is likely to be lower than the original issue price. Furthermore, if you sell your notes, you will likely be charged

a commission for secondary market transactions, or the price will likely reflect a dealer discount and/or fees for use of an electronic

platform to facilitate secondary market activity. Any sale by you prior to the Maturity Date could result in a substantial loss to you.

• SECONDARY MARKET PRICES OF THE NOTES WILL BE IMPACTED BY MANY ECONOMIC AND MARKET FACTORS —

The secondary market price of the notes during their term will be impacted by a number of economic and market factors, which

may either offset or magnify each other, aside from the selling commissions, projected hedging profits, if any, estimated hedging

costs and the values of the Underlyings. Additionally, independent pricing vendors and/or third party broker-dealers may publish a

price for the notes, which may also be reflected on customer account statements. This price 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 secondary market. See “Risk

Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — Secondary market prices of the

notes will be impacted by many economic and market factors” in the accompanying product supplement.

Risks Relating to the Underlyings

• AN INVESTMENT IN THE NOTES IS SUBJECT TO RISKS ASSOCIATED WITH ACTIVELY MANAGED FUNDS WITH

RESPECT TO THE FUND —

The Fund is actively managed. Unlike a passively managed fund, an actively managed fund does not attempt to track an index or

other benchmark, and the investment decisions for an actively managed fund are instead made by its investment adviser. The

investment adviser of an actively managed fund may adopt a strategy or strategies that are significantly higher risk than the

indexing strategy that would have been employed by a passively managed fund. As an actively managed fund, the Fund is subject

to management risk. In managing an actively managed fund, the investment adviser of a fund applies investment strategies,

techniques and analyses in making investment decisions for that fund, but there can be no guarantee that these actions will

produce the intended results. The ability of the Fund’s investment adviser to successfully implement the Fund’s investment

strategy will significantly influence the market price of the shares of the Fund and, consequently, the value of the notes.

• THE PERFORMANCE AND MARKET VALUE OF THE FUND, PARTICULARLY DURING PERIODS OF MARKET VOLATILITY,

MAY NOT CORRELATE WITH THE NET ASSET VALUE PER SHARE —

Because the shares of the Fund are traded on a securities exchange and are subject to market supply and investor demand, the

market value of one share of the Fund may differ from the net asset value per share of the Fund. During periods of market

volatility, securities underlying the Fund may be unavailable in the secondary market, market participants may be unable to

calculate accurately the net asset value per share of the Fund and the liquidity of the Fund may be adversely affected. This kind of

market volatility may also disrupt the ability of market participants to create and redeem shares of the Fund. Further, market

volatility may adversely affect, sometimes materially, the prices at which market participants are willing to buy and sell shares of

the Fund. As a result, under these circumstances, the market value of shares of the Fund may vary substantially from the net

asset value per share of the Fund. For all of the foregoing reasons, the performance of the Fund may not correlate with the net

asset value per share of the Fund, which could materially and adversely affect the value of the notes in the secondary market

and/or reduce any payment on the notes.

• RISKS ASSOCIATED WITH DISRUPTIVE INNOVATION COMPANIES WITH RESPECT TO THE FUND —

The Fund’s investment strategy involves exposure to companies that the investment adviser believes are capitalizing on disruptive

innovation and developing technologies to displace older technologies or create new markets (“disruptive innovation companies”).

However, the companies selected by the investment adviser may not in fact do so. Companies that initially develop a novel

technology may not be able to capitalize on the technology. Companies that develop disruptive technologies may face political or

legal attacks from competitors, industry groups or local and national governments. These companies may also be exposed to risks

applicable to sectors other than the disruptive innovation theme for which they are chosen, and the securities issued by these

companies may underperform the securities of other companies that are primarily focused on a particular theme. The Fund may

invest in companies that do not currently derive any revenue from disruptive innovations or technologies, and there is no assurance

that any company will derive any revenue from disruptive innovations or technologies in the future. A disruptive innovation or

technology may constitute a small portion of any company’s overall business. As a result, the success of a disruptive innovation or

technology may not affect the value of the equity securities issued by that company.

• THE NOTES ARE SUBJECT TO RISKS RELATING TO CRYPTOCURRENCIES AND RELATED INVESTMENTS WITH

RESPECT TO THE FUND —

The Fund may have exposure to cryptocurrencies, such as bitcoin, indirectly through investment funds, including through an

investment in the Grayscale Bitcoin Trust (“GBTC”), a privately offered, open-end investment vehicle. Cryptocurrencies are digital

assets designed to act as a medium of exchange and do not represent legal tender. Cryptocurrency generally operates without

$\"\"$

PS-7 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

central authority or banks and is not backed by any government. Cryptocurrencies are susceptible to theft, loss, destruction and

fraud. Cryptocurrency is an emerging asset class, and regulation in the United States is still developing, including with respect to

market integrity, anti-fraud, anti-manipulation, cybersecurity, surveillance and anti-money laundering. Federal, state and/or foreign

governments may restrict the use and exchange of cryptocurrencies. The market prices of bitcoin and other cryptocurrencies have

been subject to extreme fluctuations. Even when held indirectly, investment vehicles like GBTC may be affected by the high

volatility associated with cryptocurrency exposure. Holding a privately offered investment vehicle in its portfolio may cause the

Fund to trade at a discount to its net asset value. If cryptocurrency markets continue to be subject to sharp fluctuations, the Fund

and the notes may be adversely affected. In addition, the share prices of GBTC and other similar investment vehicles that are not

listed on a national securities exchange may be more volatile than listed securities because there is generally less liquidity in these

securities and there may be less publicly available information about them or their issuers. Cryptocurrency exchanges and other

trading venues on which cryptocurrencies trade are relatively new and, in most cases, largely unregulated and may therefore be

more exposed to fraud and failure than established, regulated exchanges for securities, derivatives and other currencies.

Cryptocurrency exchanges may stop operating or permanently shut down due to fraud, technical glitches, hackers or malware,

which may also affect the prices of cryptocurrencies. Events that negatively affect cryptocurrencies may negatively affect the

performance of the Fund and the notes.

• AN INVESTMENT IN THE NOTES IS SUBJECT TO RISKS ASSOCIATED WITH MID-SIZE, SMALL AND MICRO-

CAPITALIZATION STOCKS WITH RESPECT TO THE FUND —

Some of the equity securities held by the Fund have been issued by mid-size, small or micro-capitalization companies. Mid-size,

small and micro-capitalization companies may be less able to withstand adverse economic, market, trade and competitive

conditions relative to larger companies. Mid-size, small and micro-capitalization companies are less likely to pay dividends on their

stocks, and the presence of a dividend payment could be a factor that limits downward stock price pressure under adverse market

conditions.

• NON-U.S. SECURITIES RISK WITH RESPECT TO THE FUND AND THE NASDAQ-100® TECHNOLOGY SECTOR INDEXSM —

Some of the equity securities held by the Fund or included in the Nasdaq-100® Technology Sector IndexSM have been issued by

non-U.S. companies. Investments in securities linked to the value of such non-U.S. equity securities involve risks associated with

the home countries and/or the securities markets in the home countries of the issuers of those non-U.S. equity securities. Also,

there is generally less publicly available information about companies in some of these jurisdictions than there is about U.S.

companies that are subject to the reporting requirements of the SEC.

• EMERGING MARKETS RISK WITH RESPECT TO THE FUND —

Some of the equity securities held by the Fund have been issued by non-U.S. companies located in emerging markets countries.

Countries with emerging markets may have relatively unstable governments, may present the risks of nationalization of

businesses, restrictions on foreign ownership and prohibitions on the repatriation of assets, and may have less protection of

property rights than more developed countries. The economies of countries with emerging markets may be based on only a few

industries, may be highly vulnerable to changes in local or global trade conditions, and may suffer from extreme and volatile debt

burdens or inflation rates. Local securities markets may trade a small number of securities and may be unable to respond

effectively to increases in trading volume, potentially making prompt liquidation of holdings difficult or impossible at times.

• THE NOTES ARE SUBJECT TO CURRENCY EXCHANGE RISK WITH RESPECT TO THE FUND —

Because the prices of the non-U.S. equity securities held by the Fund are converted into U.S. dollars for purposes of calculating

the net asset value of the Fund, holders of the notes will be exposed to currency exchange rate risk with respect to each of the

currencies in which the non-U.S. equity securities held by the Fund trade. Your net exposure will depend on the extent to which

those currencies strengthen or weaken against the U.S. dollar and the relative weight of equity securities held by the Fund

denominated in each of those currencies. If, taking into account the relevant weighting, the U.S. dollar strengthens against those

currencies, the price of the Fund will be adversely affected and any payment on the notes may be reduced.

$\"\"$

PS-8 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

• RECENT EXECUTIVE ORDERS MAY ADVERSELY AFFECT THE PERFORMANCE OF THE FUND —

Pursuant to recent executive orders, U.S. persons are prohibited from engaging in transactions in, or possession of, publicly traded

securities of certain companies that are determined to be linked to the People’s Republic of China military, intelligence and security

apparatus, or securities that are derivative of, or are designed to provide investment exposure to, those securities. If the issuer of

any of the equity securities held by the Fund is in the future designated as such a prohibited company, the value of that company

may be adversely affected, perhaps significantly, which would adversely affect the performance of the Fund. In addition, under

these circumstances, the Fund is expected to remove the equity securities of that company from the Fund. Any changes to the

composition of the Fund in response to these executive orders could adversely affect the performance of the Fund.

• THE ANTI-DILUTION PROTECTION FOR THE FUND IS LIMITED —

The calculation agent will make adjustments to the Share Adjustment Factor for certain events affecting the shares of the Fund.

However, the calculation agent will not make an adjustment in response to all events that could affect the shares of the Fund. If an

event occurs that does not require the calculation agent to make an adjustment, the value of the notes may be materially and

adversely affected.

• RISKS ASSOCIATED WITH THE TECHNOLOGY SECTOR WITH RESPECT TO THE NASDAQ-100® TECHNOLOGY SECTOR

INDEXSM —

All or substantially all of the equity securities included in the Nasdaq-100® Technology Sector IndexSM are issued by companies

whose primary line of business is directly associated with the technology sector. As a result, the value of the notes may be subject

to greater volatility and be more adversely affected by a single economic, political or regulatory occurrence affecting this sector

than a different investment linked to securities of a more broadly diversified group of issuers. The value of stocks of technology

companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles,

rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition

from foreign competitors with lower production costs. Stocks of technology companies and companies that rely heavily on

technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Technology

companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect

profitability. Additionally, companies in the technology sector may face dramatic and often unpredictable changes in growth rates

and competition for the services of qualified personnel. These factors could affect the technology sector and could affect the value

of the equity securities included in the Nasdaq-100® Technology Sector IndexSM and the level of the Nasdaq-100® Technology

Sector IndexSM during the term of the notes, which may adversely affect the value of your notes.

• AN INVESTMENT IN THE NOTES IS SUBJECT TO RISKS ASSOCIATED WITH SMALL CAPITALIZATION STOCKS WITH

RESPECT TO THE RUSSELL 2000® INDEX —

Small capitalization companies may be less able to withstand adverse economic, market, trade and competitive conditions relative

to larger companies. Small capitalization companies are less likely to pay dividends on their stocks, and the presence of a

dividend payment could be a factor that limits downward stock price pressure under adverse market conditions.

$\"\"$

PS-9 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

The Underlyings

The Fund is an actively-managed exchange-traded fund of ARK ETF Trust, a registered investment company, with an investment

objective of long-term growth of capital, that primarily invests in equity securities of U.S. and non-U.S. companies relevant to the ARK

Innovation ETF’s investment theme of disruptive innovation. For additional information about the Fund, see “Fund Descriptions — The

ARK Innovation ETF” in the accompanying underlying supplement.

The Nasdaq-100® Technology Sector IndexSM is an equal-weighted, price-return index designed to measure the performance of the

technology companies in the Nasdaq-100 Index®. The Nasdaq-100 Index® is a modified market capitalization-weighted index that is

designed to measure the performance of 100 of the largest non-financial companies listed on The Nasdaq Stock Market. For additional

information about the Nasdaq-100® Technology Sector IndexSM, see “Equity Index Descriptions ― The Nasdaq-100® Technology

Sector IndexSM” in the accompanying underlying supplement, as supplemented by the following updated information relating to the

Nasdaq-100 Index®.

Nasdaq, Inc. (“Nasdaq”), the index sponsor of the Nasdaq-100 Index®, recently implemented several changes to the methodology of

the Nasdaq-100 Index®, including changes to the determination of market capitalization for purposes of constituent selection and

weighting, the introduction of an expedited “Fast Entry” process for certain large companies, the removal of the minimum free float

requirement for constituent selection and the introduction of a cap on the share count used to determine the weighting of low-float

securities. These changes became effective on May 1, 2026, with certain constituent and rebalancing adjustments first implemented

during the June 2026 quarterly review. The information set forth below supersedes the information regarding the Nasdaq-100 Index®

included in the accompanying underlying supplement to the extent inconsistent therewith.

Under the updated methodology, Nasdaq uses different measures of market capitalization for constituent selection and constituent

weighting. For purposes of constituent selection, Nasdaq now uses “Full Market Capitalization.” For companies with direct (non-ADR)

listings and companies represented by an American depositary receipt (“ADR”) that serves as a company’s primary global listing (a

“Primary ADR”), Full Market Capitalization includes both listed and unlisted shares. For companies represented by an ADR where the

underlying shares serve as the company’s primary global listing and are listed on a foreign exchange (a “Non-Primary ADR”), Full

Market Capitalization is based solely on the value of the listed depositary shares, and foreign-listed underlying shares and unlisted

shares are excluded. For purposes of constituent weighting, Nasdaq uses “Modified Market Capitalization,” which takes into account

only eligible listed share classes and disregards foreign-listed and unlisted shares.

In addition, the updated methodology eliminates the minimum free float requirement for inclusion in the Nasdaq-100 Index®, although

the Modified Market Capitalization used for constituent weighting imposes a limitation on the weightings of low-float securities.

Specifically, for purposes of determining Modified Market Capitalization, each low-float security’s share count is limited to the lesser of

(i) its reported total shares outstanding (“TSO”) (or, in the case of an ADR, its listed ADR shares outstanding), and (ii) three times its

free-floating shares or free-floating ADR shares, as applicable. Other than as a direct result of corporate actions, the Nasdaq-100

Index® also no longer implements ad-hoc intra-quarter adjustments to a security’s TSO between scheduled rebalancing events.

The updated methodology also introduces a “Fast Entry” process under which newly eligible securities, including both initial public

offerings and companies that have recently transferred their listing to an eligible exchange, may be added to the Nasdaq-100 Index® on

an expedited basis if their Full Market Capitalization would rank within the top 40 current index constituents and they satisfy the

applicable eligibility criteria. A Fast Entry inclusion will not require the removal of an existing constituent and may temporarily increase

the number of constituents in the Nasdaq-100 Index® above 100.

The updated methodology further provides for quarterly rebalances in March, June and September. During quarterly rebalances, the

index shares of each constituent are adjusted for changes in TSO, index shares of low-float securities are adjusted to reflect changes in

float, constituents ranked outside the top 125 by Full Market Capitalization are removed and, if necessary, replaced, and certain

additional companies whose Full Market Capitalization ranks within the top 40 of current index constituents may be added without

requiring a corresponding removal. Securities added to the Nasdaq-100 Index® between annual reconstitutions, including through the

Fast Entry process, as intra-quarter replacements or as part of a March, June or September quarterly rebalance, will have their initial

index weightings determined using a linear interpolation process based on their Modified Market Capitalization ranking.

$\"\"$

PS-10 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

The Russell 2000® Index measures the capitalization-weighted price performance of 2,000 U.S. small-capitalization stocks listed on

eligible U.S. exchanges and is designed to track the performance of the small-capitalization segment of the U.S. equity market. The

companies included in the Russell 2000® Index are the middle 2,000 of the companies that form the Russell 3000E™ Index, which is

composed of the 4,000 largest U.S. companies as determined by total market capitalization and represents approximately 99% of the

U.S. equity market. For additional information about the Russell 2000® Index, see “Equity Index Descriptions — The Russell Indices” in

the accompanying underlying supplement.

Historical Information

The following graphs set forth the historical performance of each Underlying based on the weekly historical closing values from January

8, 2021 through October 23, 2026. The closing value of the Fund on October 23, 2026 was $81.99. The closing value of the Nasdaq-

100® Technology Sector IndexSM on October 23, 2026 was 16,433.04. The closing value of the Russell 2000® Index on October 23,

2026 was 2,775.899. We obtained the closing values above and below from the Bloomberg Professional® service (“Bloomberg”),

without independent verification. The closing values of the Fund above and below may have been adjusted by Bloomberg for actions

taken by the Fund, such as stock splits.

The historical closing values of each Underlying should not be taken as an indication of future performance, and no assurance can be

given as to the closing value of any Underlying on the Observation Date. There can be no assurance that the performance of the

Underlyings will result in the return of any of your principal amount in excess of $200.00 per $1,000 principal amount note, subject to

the credit risks of JPMorgan Financial and JPMorgan Chase & Co.

$\"\"$

PS-11 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

Tax Treatment

You should review carefully the section entitled “United States Federal Taxation” in the accompanying prospectus supplement. The

following discussion, when read in combination with that section, constitutes the full opinion of our special tax counsel, Davis Polk &

Wardwell LLP, regarding the material U.S. federal income tax consequences of owning and disposing of notes.

Based on current market conditions, in the opinion of our special tax counsel it is reasonable to treat the notes as “open transactions”

that are not debt instruments for U.S. federal income tax purposes, as more fully described in “United States Federal Taxation —Tax

Consequences to U.S. Holders— Program Securities Treated as Prepaid Financial Contracts That are Open Transactions” in the

accompanying prospectus supplement. Assuming this treatment is respected, subject to the possible application of the “constructive

ownership” rules, the gain or loss on your notes should be treated as long-term capital gain or loss if you hold your notes for more than

a year, whether or not you are an initial purchaser of notes at the issue price. The notes could be treated as “constructive ownership

transactions” within the meaning of Section 1260 of the Code, in which case any gain recognized in respect of the notes that would

otherwise be long-term capital gain and that was in excess of the “net underlying long-term capital gain” (as defined in Section 1260)

would be treated as ordinary income, and a notional interest charge would apply as if that income had accrued for tax purposes at a

constant yield over your holding period for the notes. Our special tax counsel has not expressed an opinion with respect to whether the

constructive ownership rules apply to the notes. Accordingly, U.S. Holders should consult their tax advisers regarding the potential

application of the constructive ownership rules.

$\"\"$

PS-12 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

The IRS or a court may not respect the treatment of the notes described above, in which case the timing and character of any income

or loss on your notes could be materially and adversely affected. In addition, in 2007 Treasury and the IRS released a notice requesting

comments on the U.S. federal income tax treatment of “prepaid forward contracts” and similar instruments. The notice focuses in

particular on whether to require investors in these instruments to accrue income over the term of their investment. It also asks for

comments on a number of related topics, including the character of income or loss with respect to these instruments; the relevance of

factors such as the nature of the underlying property to which the instruments are linked; the degree, if any, to which income (including

any mandated accruals) realized by non-U.S. investors should be subject to withholding tax; and whether these instruments are or

should be subject to the constructive ownership regime described above. While the notice requests comments on appropriate transition

rules and effective dates, any Treasury regulations or other guidance promulgated after consideration of these issues could materially

and adversely affect the tax consequences of an investment in the notes, possibly with retroactive effect. You should consult your tax

adviser regarding the U.S. federal income tax consequences of an investment in the notes, including the potential application of the

constructive ownership rules, possible alternative treatments and the issues presented by this notice.

Section 871(m) of the Code and Treasury regulations promulgated thereunder (“Section 871(m)”) generally impose a 30% withholding

tax (unless an income tax treaty applies) on dividend equivalents paid or deemed paid to Non-U.S. Holders with respect to certain

financial instruments linked to U.S. equities or indices that include U.S. equities. Section 871(m) provides certain exceptions to this

withholding regime, including for instruments linked to certain broad-based indices that meet requirements set forth in the applicable

Treasury regulations. Additionally, a recent IRS notice excludes from the scope of Section 871(m) instruments issued prior to January

1, 2027 that do not have a delta of one with respect to underlying securities that could pay U.S.-source dividends for U.S. federal

income tax purposes (each an “Underlying Security”). Based on certain determinations made by us, our special tax counsel is of the

opinion that Section 871(m) should not apply 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. Section 871(m) is complex and its application may depend on your particular

circumstances, including whether you enter into other transactions with respect to an Underlying Security. You should consult your tax

adviser regarding the potential application of Section 871(m) to the notes.

The Estimated Value of the Notes

The estimated value of the notes set 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 debt component with the same maturity as the notes, valued using the internal funding

rate described below, and (2) the derivative or derivatives underlying the economic terms of the notes. The estimated value of the

notes does not represent a minimum price at which JPMS would be willing to buy your notes in any secondary market (if any exists) at

any time. The internal funding rate used in the determination of the estimated value of the notes may differ from the market-implied

funding rate for vanilla fixed income instruments of a similar maturity issued by JPMorgan Chase & Co. or its affiliates. Any difference

may be based on, among other things, our and our affiliates’ view of the funding value of the notes as well as the higher issuance,

operational and ongoing liability management costs of the notes in comparison to those costs for the conventional fixed income

instruments of JPMorgan Chase & Co. This internal funding rate is based on certain market inputs and assumptions, which may prove

to be incorrect, and is intended to approximate the prevailing market replacement funding rate for the notes. The use of an internal

funding rate and any potential changes to that rate may have an adverse effect on the terms of the notes and any secondary market

prices of the notes. For additional information, see “Selected Risk Considerations — Risks Relating to the Estimated Value and

Secondary Market Prices of the Notes — The Estimated Value of the Notes Is Derived by Reference to an Internal Funding Rate” in this

pricing supplement.

The value of the derivative or derivatives underlying the economic terms of the notes is derived from internal pricing models of our

affiliates. These models are dependent on inputs such as the traded market prices of comparable derivative instruments and on

various other inputs, some of which are market-observable, and which can include volatility, dividend rates, interest rates and other

factors, as well as assumptions about future market events and/or environments. Accordingly, the estimated value of the notes is

determined when the terms of the notes are set based on market conditions and other relevant factors and assumptions existing at that

time.

The estimated value of the notes does not represent future values of the notes and may differ from others’ estimates. Different pricing

models and assumptions could provide valuations for the notes that are greater than or less than the estimated value of the notes. In

addition, market conditions and other relevant factors in the future may change, and any assumptions may prove to be incorrect. On

future dates, the value of the notes could change significantly based on, among other things, changes in market conditions, our or

JPMorgan Chase & Co.’s creditworthiness, interest rate movements and other relevant factors, which may impact the price, if any, at

which JPMS would be willing to buy notes from you in secondary market transactions.

The estimated value of the notes is lower than the original issue price of the notes because costs associated with selling, structuring

and hedging the notes are included in the original issue price of the notes. These costs include the selling commissions paid to JPMS

and other affiliated or unaffiliated dealers, the projected profits, if any, that our affiliates expect to realize for assuming risks inherent in

$\"\"$

PS-13 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

hedging our obligations under the notes, the estimated cost of hedging our obligations under the notes and the fees, if any, paid for

third-party data analytics and/or electronic platform services. Because hedging our obligations entails risk and may be influenced by

market forces beyond our control, this hedging may result in a profit that is more or less than expected, or it may result in a loss. A

portion of the profits, if any, realized in hedging our obligations under the notes may be allowed to other affiliated or unaffiliated dealers,

and we or one or more of our affiliates will retain any remaining hedging profits. See “Selected Risk Considerations — Risks Relating

to the Estimated Value and Secondary Market Prices of the Notes — The Estimated Value of the Notes Is Lower Than the Original

Issue Price (Price to Public) of the Notes” in this pricing supplement.

Secondary Market Prices of the Notes

For information about factors that will impact any secondary market prices of the notes, see “Risk Factors — Risks Relating to the

Estimated Value and Secondary Market Prices of the Notes — Secondary market prices of the notes will be impacted by many

economic and market factors” in the accompanying product supplement. In addition, we 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 with any repurchases of your notes by

JPMS in an amount that will decline to zero over an initial predetermined period. These costs can include selling commissions,

projected hedging profits, if any, and, in some circumstances, estimated hedging costs, our internal secondary market funding rates for

structured debt issuances and the fees paid for third-party data analytics and/or electronic platform services. This initial predetermined

time period is intended to be the shorter of six months and one-half of the stated term of the notes. The length of any such initial period

reflects the structure of the notes, whether our affiliates expect to earn a profit in connection with our hedging activities, the estimated

costs of hedging the notes and when these costs are incurred, as determined by our affiliates. See “Selected Risk Considerations —

Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — The Value of the Notes as Published by JPMS

(and Which May Be Reflected on Customer Account Statements) May Be Higher Than the Then-Current Estimated Value of the Notes

for a Limited Time Period” in this pricing supplement.

Supplemental Use of Proceeds

The notes are offered to meet investor demand for products that reflect the risk-return profile and market exposure provided by the

notes. See “Hypothetical Payout Profile” and “How the Notes Work” in this pricing supplement for an illustration of the risk-return profile

of the notes and “The Underlyings” in this pricing supplement for a description of the market exposure provided by the notes.

The original issue price of the notes is equal to the estimated value of the notes plus the selling commissions paid to JPMS and other

affiliated or unaffiliated dealers, plus (minus) the projected profits (losses) that our affiliates expect to realize for assuming risks inherent

in hedging our obligations under the notes, plus the estimated cost of hedging our obligations under the notes, plus the fees, if any, paid

for third-party data analytics and/or electronic platform services.

Validity of the Notes and the Guarantee

In the opinion of Davis Polk & Wardwell LLP, as special products counsel to JPMorgan Financial and JPMorgan Chase & Co., when the

notes offered by this pricing supplement have been issued by JPMorgan Financial pursuant to the indenture, the trustee and/or paying

agent has made, in accordance with the instructions from JPMorgan Financial, the appropriate entries or notations in its records relating

to the master global note that represents such notes (the “master note”), and such notes have been delivered against payment as

contemplated herein, such notes will be valid and binding obligations of JPMorgan Financial and the related guarantee will constitute a

valid and binding obligation of JPMorgan Chase & Co., enforceable in accordance with their terms, subject to applicable bankruptcy,

insolvency and similar laws affecting creditors’ rights generally, concepts of reasonableness and equitable principles of general

applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel

expresses no opinion as to (x)(i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the

conclusions expressed above or (ii) any provision of the indenture that purports to avoid the effect of fraudulent conveyance, fraudulent

transfer or similar provision of applicable law by limiting the amount of JPMorgan Chase & Co.’s obligation under the related guarantee

or (y) the validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of the stated principal

amount upon acceleration of the notes to the extent determined to constitute unearned interest. This opinion is given as of the date

hereof and is limited to the laws of the State of New York, the General Corporation Law of the State of Delaware and the Delaware

Limited Liability Company Act, except that such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable to

JPMorgan Financial or JPMorgan Chase & Co., the indenture, the notes, the related guarantee (together with the indenture and the

notes, the “Documents”) or such transactions solely 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 affiliates due to the specific assets or business of such party or such affiliate or (ii) any law,

rule or regulation relating to national security. In addition, this opinion is subject to customary assumptions about the trustee’s

authorization, execution and delivery of the indenture and its authentication of the master note and the validity, binding nature and

enforceability of the indenture with respect to the trustee, all as stated in the letter of such counsel dated February 24, 2026, which was

$\"\"$

PS-14 | Structured Investments

Uncapped Dual Directional Buffered Return Enhanced Notes Linked to the

Least Performing of the ARK Innovation ETF, the Nasdaq-100® Technology

Sector IndexSM and the Russell 2000® Index

filed as an exhibit to the Registration Statement on Form S-3 by JPMorgan Financial and JPMorgan Chase & Co. on February 24,

2026.

Additional Terms Specific to the Notes

You should read this pricing supplement together with the accompanying prospectus, as supplemented by the accompanying

prospectus supplement relating to our Series A medium-term notes of which these notes are a part, and the more detailed information

contained in the accompanying product supplement and the accompanying underlying supplement. This pricing supplement, together

with the documents listed below, contains the terms of the notes and supersedes all other prior or contemporaneous oral statements as

well as any other written materials including preliminary or indicative pricing terms, correspondence, trade ideas, structures for

implementation, sample structures, fact sheets, brochures or other educational materials of ours. You should carefully consider, among

other things, the matters set forth in the “Risk Factors” sections of the accompanying prospectus supplement and the accompanying

product supplement, as the notes involve risks not associated with conventional debt securities. We urge you to consult your

investment, legal, tax, accounting and other advisers before you invest in the notes.

You may access these documents on the SEC website at www.sec.gov as 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:

http://www.sec.gov/Archives/edgar/data/19617/000121390026045198/ea0285802-20_424b2.pdf

• Underlying supplement no. 1-I dated April 17, 2026:

http://www.sec.gov/Archives/edgar/data/19617/000121390026045209/ea0285802-11_424b2.pdf

• Prospectus supplement and prospectus, each dated April 17, 2026:

http://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 JPMorgan Chase & Co.’s CIK is 19617. As used in this pricing

supplement, “we,” “us” and “our” refer to JPMorgan Financial.

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