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Filed Pursuant to Rule 424(b)(2)

Registration Statement Nos. 333-293684 and 333-293684-01

Pricing Supplement to the Prospectus\nand Prospectus Supplement, each dated April 17, 2026, the\nUnderlying Supplement No. 1-I dated April 17, 2026 and the\nProduct Supplement No. 3-I dated April 17, 2026

JPMorgan Chase Financial\nCompany LLC

Medium-Term Notes,\nSeries A
\n$11,375,000
\nDigital Buffered Equity Notes due 2028

(Linked to a\nBasket)

Fully and Unconditionally Guaranteed by JPMorgan\nChase & Co.

The notes do not bear interest. The amount that you will be\npaid on your notes on the stated maturity date (January 31, 2028, subject to adjustment) is based on the performance of an unequally weighted\nbasket (which we refer to as the basket) consisting of the EURO STOXX 50^® Index (40.00% initial weight), the TOPIX^®\nIndex (25.00% initial weight), the FTSE^® 100 Index (17.00% initial weight), the Swiss Market Index (11.00% initial weight)\nand the S&P/ASX 200 Index (7.00% initial weight) as measured from and including the trade date (October 30, 2026) to and including\nthe determination date (January 27, 2028, subject to adjustment). The initial basket level is 100 and the final basket level will equal\nthe sum of the products, as calculated for each basket underlier, of: (i) the closing level on the determination date divided\nby the initial basket underlier level multiplied by (ii) the applicable initial weighted value for such basket underlier. If the\nfinal basket level on the determination date is greater than or equal to 80.00% of the initial basket level, you will receive the threshold\nsettlement amount of $1,078.00 for each $1,000 principal amount note. If the final basket level declines by more than 20.00% from the\ninitial basket level, the return on your notes will be negative. You could lose your entire investment in the notes. Any payment on\nthe notes is subject to the credit risk of JPMorgan Chase Financial Company LLC (“JPMorgan Financial”), as issuer of the notes,\nand the credit risk of JPMorgan Chase & Co., as guarantor of the notes.

To determine your payment at maturity, we will calculate the basket\nreturn, which is the percentage increase or decrease in the final basket level from the initial basket level. On the stated maturity date,\nfor each $1,000 principal amount note, you will receive an amount in cash equal to:

if the basket return is greater than or equal to -20.00% (the final basket level is greater than or equal to 80.00%\nof the initial basket level), the threshold settlement amount; or

if the basket return is below -20.00% (the final basket level is less than the initial basket level by more than 20.00%),\nthe sum of (i) $1,000 plus (ii) the product of (a) $1,000 times (b) 1.25 times (c) the sum of\nthe basket return plus 20.00%. You will receive less than $1,000.

A decrease in the level of one or more basket underliers may offset\nincreases in the levels of the other basket underliers. Due to the unequal weightings of the basket underliers, the performances of the\nEURO STOXX 50^® Index, the TOPIX^® Index and the FTSE^® 100 Index will have a significantly\nlarger impact on your return on the notes than the performance of the Swiss Market Index or the S&P/ASX 200 Index.

Your investment in the notes involves certain risks, including,\namong other things, our credit risk. See “Risk Factors” on page S-2 of the accompanying prospectus supplement, “Risk\nFactors” on page PS-12 of the accompanying product supplement and “Selected Risk Factors” on page PS-17 of this pricing\nsupplement.

The foregoing is only a brief summary of the terms of your notes.\nYou should read the additional disclosure provided herein so that you may better understand the terms and risks of your investment.

The estimated value of the notes, when the terms of the notes\nwere set, was $987.30 per $1,000 principal amount note. See “Summary Information — The Estimated Value of the Notes”\non page PS-8 of this pricing supplement for additional information about the estimated value of the notes and “Summary Information\n— Secondary Market Prices of the Notes” on page PS-9 of this pricing supplement for information about secondary market prices\nof the notes.

Original issue date (settlement date): November 4, 2026

Original issue price: 100.00% of the principal amount

Underwriting commission/discount: 0.84% of the principal amount*

Net proceeds to the issuer: 99.16% of the principal amount

See “Summary Information — Supplemental Use of Proceeds”\non page PS-9 of this pricing supplement for information about the components of the original issue price of the notes.

*J.P. Morgan Securities LLC, which we refer to as JPMS, acting as\nagent for JPMorgan Financial, will pay all of the selling commissions of 0.84% of the principal amount it receives from us to an unaffiliated\ndealer. See “Plan of Distribution (Conflicts of Interest)” on page PS-85 of the accompanying product supplement.

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

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.

Pricing Supplement dated October 30, 2026
\n

The original issue price, fees and commissions and net proceeds listed above\nrelate to the notes we sell initially. We may decide to sell additional notes after the date of this pricing supplement, at issue prices\nand with fees and commission and net proceeds that differ from the amounts set forth above. The return (whether positive or negative)\non your investment in notes will depend in part on the price you pay for your notes.

We may use this pricing supplement in the initial sale of the notes.\nIn addition, JPMS or any other affiliate of ours may use this pricing supplement in a market-making transaction in a note after its initial\nsale. Unless JPMS or its agents inform the purchaser otherwise in the confirmation of sale, this pricing supplement is being used\nin a market-making transaction.

SUMMARY INFORMATION

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. We urge\nyou 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\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:

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\nChase & Co.’s CIK is 19617. As used in this pricing supplement, “we,” “us” and “our”\nrefer to JPMorgan Financial

Key Terms

Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly\nowned finance subsidiary of JPMorgan Chase & Co.

Guarantor: JPMorgan Chase & Co.

Basket underliers and initial weights:

\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

Basket Underlier	Basket Underlier Sponsor	Bloomberg Ticker \n Symbol	Initial Weight
EURO STOXX 50^® Index	STOXX Limited	SX5E <Index>	40.00%
TOPIX^® Index	JPX Market Innovation & Research, Inc.	TPX <Index>	25.00%
FTSE^® 100 Index	FTSE Russell	UKX <Index>	17.00%
Swiss Market Index	SIX Swiss Exchange Ltd.	SMI <Index>	11.00%
S&P/ASX 200 Index	S&P Dow Jones Indices LLC	AS51 <Index>	7.00%

The accompanying product supplement refers to each basket underlier\nas an “Underlying.”

PS-3

Principal amount: each note will have a principal amount of\n$1,000; $11,375,000 in the aggregate for all the offered notes; the aggregate principal amount of the offered notes may be increased if\nthe issuer, at its sole option, decides to sell an additional amount of the offered notes on a date subsequent to the date of this pricing\nsupplement.

Purchase at amount other than principal amount: the amount\nwe will pay you at the stated maturity date for your notes will not be adjusted based on the price you pay for your notes, so if you acquire\nnotes at a premium (or discount) to the principal amount and hold them to the stated maturity date, it could affect your investment in\na number of ways. The return on your investment in the notes will be lower (or higher) than it would have been had you purchased the notes\nat the principal amount. Also, the stated threshold level would not offer the same benefit to your investment as would be the case if\nyou had purchased the notes at the principal amount. Additionally, the cap level would be triggered at a lower (or higher) percentage\nreturn than indicated below, relative to your initial investment. See “Selected Risk Factors — Risks Relating to the Notes\nGenerally — If You Purchase Your Notes at a Premium to the Principal Amount, the Return on Your Investment Will Be Lower Than the\nReturn on Notes Purchased at the Principal Amount and the Impact of Certain Key Terms of the Notes Will Be Negatively Affected”\non page PS-18 of this pricing supplement.

Payment on the stated maturity date: for each $1,000 principal\namount note, we will pay you on the stated maturity date an amount in cash equal to:

if the final basket level is greater than or equal to the threshold level, the threshold settlement amount; or

if the final basket level is less than the threshold level, the sum of (i) $1,000 plus (ii) the product\nof (a) $1,000 times (b) the buffer rate times (c) the sum of the basket return plus the buffer amount. You\nwill receive less than $1,000.

Initial basket level: 100

Initial weighted value: the initial weighted value for each\nof the basket underliers is equal to the product of the initial weight of that basket underlier times the initial basket\nlevel. The initial weight of each basket underlier is shown in the table below:

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

Basket Underlier	Initial Weight in Basket
EURO STOXX 50^® Index	40.00%
TOPIX^® Index	25.00%
FTSE^® 100 Index	17.00%
Swiss Market Index	11.00%
S&P/ASX 200 Index	7.00%

Initial basket underlier level: with respect to each basket\nunderlier, the closing level of the basket underlier on the trade date, which was 6,131.31 for the EURO STOXX 50^® Index,\n3,965.07 for the TOPIX^® Index, 10,729.78 for the FTSE^® 100 Index, 14,810.66 for the Swiss Market Index and\n8,908.135 for the S&P/ASX 200 Index

Final basket level: the basket closing level on the determination\ndate

Basket closing level: the basket closing level on any relevant\nday will be the sum of the products of (i) the closing level of each basket underlier on that day divided by the initial basket\nunderlier level of that basket underlier and (ii) the initial weighted value of that basket underlier

Basket return: the quotient of (i) the final basket\nlevel minus the initial basket level divided by (ii) the initial basket level, expressed as a percentage.

PS-4

Cap level: 107.80% of the initial basket level

Threshold settlement amount: $1,078.00

Threshold level: 80.00% of the initial basket level

Buffer amount: 20.00%

Buffer rate: the quotient of the initial basket level\ndivided by the threshold level, which equals 1.25

Trade date: October 30, 2026

Original issue date (settlement date): November 4, 2026

Determination date: January 27, 2028, subject to postponement\nin the event of a market disruption event and as described under “General Terms of Notes — Postponement of a Determination\nDate — Notes Linked to Multiple Underlyings” on page PS-52 of the accompanying product supplement

Stated maturity date: January 31, 2028, subject to postponement\nin the event of a market disruption event and as described under “General Terms of Notes — Postponement of a Payment Date”\non page PS-50 of the accompanying product supplement. The accompanying product supplement refers to the stated maturity date as the “maturity\ndate.”

No interest: The offered notes do not bear interest.

No listing: The offered notes will not be listed on any securities\nexchange or interdealer quotation system.

No redemption: The offered notes will not be subject to redemption\nright or price dependent redemption right.

Closing level: as described under “The Underlyings —\nIndices — Level of an Index” on page PS-73 of the accompanying product supplement

Business day: as described under “General Terms of Notes\n— Postponement of a Payment Date” on page PS-50 of the accompanying product supplement

Scheduled trading day: notwithstanding anything to the contrary\nunder “General Terms of Notes — Postponement of a Determination Date — Additional Defined Terms” on page PS-54\nof the accompanying product supplement, for the purposes of the notes offered by this pricing supplement, a “scheduled trading day”\nmeans, (a) with respect to the EURO STOXX 50^® Index or any relevant successor index (as defined in the accompanying product\nsupplement), a day, as determined by the calculation agent, on which (i) the Index Sponsor (as defined in the accompanying product supplement)\nof the EURO STOXX 50^® Index or that successor index, as applicable, is scheduled to publish the closing level of the EURO\nSTOXX 50^® Index or that successor index, as applicable, and (ii) each exchange or quotation system where trading has a\nmaterial effect (as determined by the calculation agent) on the overall market for futures or options contracts relating to the EURO STOXX\n50^® Index or that successor index, as applicable, is scheduled to be open for trading for its regular trading session;\nor (b) with respect to each of the other basket underliers or any relevant successor index, a day, as determined by the calculation agent,\non which each of the following exchanges or quotation systems is scheduled to be open for its regular trading session: (i) the relevant\nexchange (as defined in the accompanying product supplement) for that basket underlier or successor index, as applicable, and (ii) each\nexchange or quotation system where trading has a material effect (as determined by the calculation agent) on the overall market for futures\nor options contracts relating to that basket underlier or successor index, as applicable.

Disrupted day: notwithstanding anything to the contrary under\n“General Terms of Notes — Postponement of a Determination Date — Additional Defined Terms” on page PS-54 of the\naccompanying product supplement, for the purposes of the notes offered by this pricing supplement, a

PS-5

“disrupted day” means, (a) with respect to the EURO STOXX\n50^® Index or any relevant successor index, (i) a day that is not a scheduled trading day or (ii) a scheduled trading day\non which (1) the closing level of the EURO STOXX 50^® Index or that successor index, as applicable, is not calculated and\npublished by the Index Sponsor of the EURO STOXX 50^® Index or that successor index, as applicable, (2) any exchange or\nquotation system where trading has a material effect (as determined by the calculation agent) on the overall market for futures or options\ncontracts relating to the EURO STOXX 50^® Index or that successor index, as applicable, fails to open for trading during\nits regular trading session or (3) a market disruption event has occurred, or (b) with respect to each of the other basket underliers\nor any relevant successor index, (i) a day that is not a scheduled trading day or (ii) a scheduled trading day on which (1) any of the\nfollowing exchanges or quotation systems fails to open for trading during its regular trading session: (x) the relevant exchange for that\nbasket underlier or successor index, as applicable, and (y) each exchange or quotation system where trading has a material effect (as\ndetermined by the calculation agent) on the overall market for futures or options contracts relating to that basket underlier or successor\nindex, as applicable, or (2) a market disruption event has occurred.

Use of proceeds and hedging: as described under “Use\nof Proceeds and Hedging” on page PS-48 of the accompanying product supplement, as supplemented by “— Supplemental Use\nof Proceeds” below

Tax treatment: In determining our reporting responsibilities,\nwe intend to treat the notes for U.S. federal income tax purposes as “open transactions” that are not debt instruments, as\ndescribed in the section entitled “United States Federal Taxation — Tax Consequences to U.S. Holders — Program Securities\nTreated as Prepaid Financial Contracts That are Open Transactions” in the accompanying prospectus supplement. Based on the advice\nof Davis Polk & Wardwell LLP, our special tax counsel, we believe that this is a reasonable treatment, but that there are other reasonable\ntreatments that the IRS or a court may adopt, in which case the timing and character of any income or loss on the notes could be materially\nand adversely affected.

No statutory, judicial or administrative authority directly addresses\nthe characterization of the notes (or similar instruments) for U.S. federal income tax purposes, and no ruling is being requested from\nthe IRS with respect to their proper characterization and treatment. Assuming that “open transaction” treatment is respected,\nthe 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\nor not you are an initial purchaser of the notes at the issue price. However, the IRS or a court may not respect the treatment of the\nnotes as “open transactions,” in which case the timing and character of any income or loss on the notes could be materially\nand adversely affected. For instance, the notes could be treated as contingent payment debt instruments, in which case the gain on your\nnotes would be treated as ordinary income and you would be required to accrue original issue discount on your notes in each taxable year\nat the “comparable yield,” as determined by us, although we will not make any payment with respect to the notes until maturity.

In addition, in 2007 Treasury and the IRS released a notice requesting\ncomments on the U.S. federal income tax treatment of “prepaid forward contracts” and similar instruments. The notice focuses\nin particular on whether to require investors in these instruments to accrue income over the term of their investment. It also asks for\ncomments on a number of related topics, including the character of income or loss with respect to these instruments; the relevance of\nfactors such as the nature of the underlying property to which the instruments are linked; the degree, if any, to which income (including\nany mandated accruals) realized by non-U.S. investors should be subject to withholding tax; and whether these instruments are or should\nbe subject to the “constructive ownership” regime, which very generally can operate to recharacterize certain long-term capital\ngain as ordinary income and impose a notional interest charge. While the notice requests comments on appropriate transition rules and\neffective dates, any Treasury regulations or other guidance promulgated after consideration of these issues could materially and adversely\naffect the tax consequences of an investment in the notes, possibly with retroactive effect. You should review carefully the section entitled\n“United States Federal Taxation” in the accompanying prospectus supplement and consult your tax adviser regarding the U.S.\nfederal income tax consequences of an investment in the notes, including possible alternative treatments and the issues presented by this\nnotice.

Section 871(m) of the Code and Treasury regulations promulgated thereunder\n(“Section 871(m)”) generally impose a 30% withholding tax (unless an income tax treaty applies) on dividend equivalents

PS-6

paid or deemed paid to Non-U.S. Holders with respect to certain financial\ninstruments linked to U.S. equities or indices that include U.S. equities. Section 871(m) provides certain exceptions to this withholding\nregime, including for instruments linked to certain broad-based indices that meet requirements set forth in the applicable Treasury regulations. \nAdditionally, a recent IRS notice excludes from the scope of Section 871(m) instruments issued prior to January 1, 2029 that do not have\na delta of one with respect to underlying securities that could pay U.S.-source dividends for U.S. federal income tax purposes (each an\n“Underlying Security”). Based on certain determinations made by us, our special tax counsel is of the opinion that Section\n871(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\ndisagree with this determination. Section 871(m) is complex and its application may depend on your particular circumstances, including\nwhether you enter into other transactions with respect to an Underlying Security. You should consult your tax adviser regarding\nthe potential application of Section 871(m) to the notes.

ERISA: as described under “Benefit Plan Investor Considerations”\non page PS-87 of the accompanying product supplement

Supplemental plan of distribution: as described under “Plan\nof Distribution (Conflicts of Interest)” on page PS-85 of the accompanying product supplement; we estimate that our share of the\ntotal offering expenses, excluding underwriting discounts and commissions, will be approximately $10,000. We have agreed to sell to JPMS,\nand JPMS has agreed to purchase from us, the aggregate principal amount of the notes specified on the front cover of this pricing supplement.\nJPMS proposes initially to offer the notes to the public at the original issue price set forth on the cover page of this pricing supplement,\nand to an unaffiliated dealer at that price and to pay that dealer a selling commission of 0.84% of the principal amount.

Conflicts of interest: JPMS has a “conflict of interest”\nwithin the meaning of FINRA Rule 5121 in any offering of the notes in which it participates because JPMorgan Chase & Co.\nowns, directly or indirectly, all of the outstanding equity securities of JPMS, because JPMS and we are under common control by JPMorgan\nChase & Co. and because the net proceeds received from the sale of the notes will be used, in part, by JPMS or its affiliates\nin connection with hedging our obligations under the notes. The offering of the notes will comply with the requirements of Rule 5121 of\nFinancial Industry Regulatory Authority, Inc. (“FINRA”) regarding a FINRA member firm’s underwriting of securities of\nan affiliate. In accordance with FINRA Rule 5121, neither JPMS nor any other affiliated agent of ours may make sales in the offering of\nthe notes to any of its discretionary accounts without the specific written approval of the customer.

Calculation agent: JPMS

CUSIP no.: 46661QS55

ISIN no.: US46661QS557

FDIC: the notes are not bank deposits and are not insured\nby the Federal Deposit Insurance Corporation or any other governmental agency, nor are they obligations of, or guaranteed by, a bank.

Supplemental Terms of the Notes

For purposes of the notes offered by this pricing supplement:

(a) any reference to “calculating the closing level of that\nIndex last in effect prior to the commencement of the market disruption event (or prior to the non-trading day)” under “General\nTerms of Notes — Postponement of a Determination Date — Notes Linked to Multiple Underlyings” in the accompanying product\nsupplement will be deemed to refer to “calculating the closing level of that Index last in effect prior to the commencement of the\ninitial Disrupted Day”; and

(b) all references to each of the following terms used in the accompanying\nproduct supplement will be deemed to refer to the corresponding term used in this pricing supplement, as set forth in the table below:

PS-7

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

Product Supplement Term	Pricing Supplement Term
Underlying	basket underlier
pricing date	trade date
maturity date	stated maturity date
term sheet	preliminary pricing supplement

In addition, the following terms used in this pricing supplement\nare not defined in the accompanying product supplement: basket return, initial basket level, initial basket underlier level, final basket\nlevel, initial weight, threshold settlement amount, cap level, threshold level, buffer amount and buffer rate. Accordingly, please refer\nto “Key Terms” on page PS-3 of this pricing supplement for the definitions of these terms.

Notwithstanding anything to the contrary in the accompanying product\nsupplement, the provisions set forth under “General Terms of Notes — Consequences of a Change-in-Law Event” in the accompanying\nproduct supplement do not apply to the notes.

The Estimated Value of the Notes

The estimated value of the notes when the terms of the notes are\nset, which we refer to as the estimated value of the notes, set forth on the cover of this pricing supplement is equal to the sum of the\nvalues of the following hypothetical components: (1) a fixed-income debt component with the same maturity as the notes, valued using the\ninternal funding rate described below, and (2) the derivative or derivatives underlying the economic terms of the notes. The estimated\nvalue 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\nexists) at any time. The internal funding rate used in the determination of the estimated value of the notes may differ from the market-implied\nfunding rate for vanilla fixed income instruments of a similar maturity issued by JPMorgan Chase & Co. or its affiliates.\nAny difference may be based on, among other things, our and our affiliates’ view of the funding value of the notes as well as the\nhigher issuance, operational and ongoing liability management costs of the notes in comparison to those costs for the conventional fixed\nincome instruments of JPMorgan Chase & Co. This internal funding rate is based on certain market inputs and assumptions,\nwhich may prove to be incorrect, and is intended to approximate the prevailing market replacement funding rate for the notes. The use\nof 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\nmarket prices of the notes. For additional information, see “Selected Risk Factors — Risks Relating to the Estimated Value\nand Secondary Market Prices of the Notes — The Estimated Value of the Notes Is Derived by Reference to an Internal Funding Rate”\non page PS-20 of this pricing supplement. The value of the derivative or derivatives underlying the economic terms of the notes is derived\nfrom internal pricing models of our affiliates. These models are dependent on inputs such as the traded market prices of comparable derivative\ninstruments and on various other inputs, some of which are market-observable, and which can include volatility, dividend rates, interest\nrates and other factors, as well as assumptions about future market events and/or environments. Accordingly, the estimated value of the\nnotes is determined when the terms of the notes are set based on market conditions and other relevant factors and assumptions existing\nat that time. See “Selected Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes\n— The Estimated Value of the Notes Does Not Represent Future Values of the Notes and May Differ from Others’ Estimates”\non page PS-20 of this pricing supplement.

The estimated value of the notes is lower than the original issue\nprice 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 paid to JPMS and the unaffiliated dealer, the projected profits, if any, that our\naffiliates expect to realize for assuming risks inherent in hedging our obligations under the notes, the estimated cost of hedging our\nobligations under the notes and the fees, if any, paid for third-party data analytics and/or electronic platform services. Because hedging\nour obligations entails risk and may be influenced by market forces beyond our control, this hedging may result in a profit that is more\nor less than expected, or it may result in a loss. A portion of the profits realized in hedging our obligations under the notes, if any,\nmay be allowed to other affiliated or unaffiliated dealers, and we or one or more of our affiliates will retain any remaining hedging\nprofits. A fee will also be paid to iCapital Markets LLC, an electronic platform in which an affiliate of Goldman Sachs

PS-8

& Co. LLC, who is acting as a dealer in connection with the distribution\nof the notes, holds an indirect minority equity interest, for services it is providing in connection with this offering. See “Selected\nRisk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — The Estimated Value of the\nNotes Is Lower Than the Original Issue Price of the Notes” on page PS-19 of this pricing supplement.

Secondary Market Prices of the Notes

For information about factors that will impact any secondary market\nprices of the notes, see “Selected Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the\nNotes — Secondary Market Prices of the Notes Will Be Impacted by Many Economic and Market Factors” on page PS-21 of this pricing\nsupplement. In addition, we generally expect that some of the costs included in the original issue price of the notes will be partially\npaid back to you in connection with any repurchases of your notes by JPMS in an amount that will decline to zero over the period from\nthe trade date through February 1, 2027. The length of any such initial period reflects the structure of the notes, whether our affiliates\nexpect to earn a profit in connection with our hedging activities, the estimated costs of hedging the notes and when these costs are incurred,\nas determined by our affiliates. See “Selected Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices\nof the Notes — The Value of the Notes as Published by JPMS (and Which May Be Reflected on Customer Account Statements) May Be Higher\nThan the Then-Current Estimated Value of the Notes for a Limited Time Period” on page PS-20 of this pricing supplement.

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” on page PS-11 of this pricing\nsupplement for an illustration of the risk-return profile of the notes and “The Basket and the Basket Underliers” on page\nPS-23 of 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\nof the notes plus the selling commissions paid to JPMS and the unaffiliated dealer, plus (minus) the projected profits (losses) that our\naffiliates expect to realize for assuming risks inherent in hedging our obligations under the notes, plus the estimated cost of hedging\nour 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\n& Wardwell LLP, as special products counsel to JPMorgan Financial and JPMorgan Chase & Co., when the notes offered by\nthis pricing supplement have been issued by JPMorgan Financial pursuant to the indenture, the trustee and/or paying agent has made, in\naccordance with the instructions from JPMorgan Financial, the appropriate entries or notations in its records relating to the master global\nnote that represents such notes (the “master note”), and such notes have been delivered against payment as contemplated herein,\nsuch notes will be valid and binding obligations of JPMorgan Financial and the related guarantee will constitute a valid and binding obligation\nof JPMorgan Chase & Co., enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and similar\nlaws affecting creditors’ rights generally, concepts of reasonableness and equitable principles of general applicability (including,\nwithout limitation, concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel expresses no opinion\nas to (x)(i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed\nabove or (ii) any provision of the indenture that purports to avoid the effect of fraudulent conveyance, fraudulent transfer or similar\nprovision of applicable law by limiting the amount of JPMorgan Chase & Co.’s obligation under the related guarantee\nor (y) the validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of the stated\nprincipal amount upon acceleration of the notes to the extent determined to constitute unearned interest. This opinion is given as of\nthe 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\nLimited Liability Company Act, except that such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable\nto JPMorgan Financial or JPMorgan Chase & Co., the indenture, the notes, the related guarantee (together with the indenture\nand the notes, the

PS-9

“Documents”) or such transactions solely because\nsuch 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\nto the specific assets or business of such party or such affiliate or (ii) any law, rule or regulation relating to national security.\nIn addition, this opinion is subject to customary assumptions about the trustee’s authorization, execution and delivery of the indenture\nand its authentication of the master note and the validity, binding nature and enforceability of the indenture with respect to the trustee,\nall as stated in the letter of such counsel dated February 24, 2026, which was filed as an exhibit to the Registration Statement on Form\nS-3 by JPMorgan Financial and JPMorgan Chase & Co. on February 24, 2026.

PS-10

HYPOTHETICAL EXAMPLES

The following table and chart are provided for purposes of illustration\nonly. They should not be taken as an indication or prediction of future investment results and are intended merely to illustrate the impact\nthat the various hypothetical basket closing levels or hypothetical closing levels of the basket underliers, as applicable, on the determination\ndate could have on the payment at maturity assuming all other variables remain constant.

The examples below are based on a range of final basket levels and\nclosing levels of the basket underliers that are entirely hypothetical; no one can predict what the basket closing level will be on any\nday throughout the term of your notes, and no one can predict what the final basket level will be on the determination date. The basket\nunderliers have been highly volatile in the past — meaning that the levels of the basket underliers have changed considerably in\nrelatively short periods — and their performances cannot be predicted for any future period.

The information in the following examples reflects hypothetical rates of\nreturn on the offered notes assuming that they are purchased on the original issue date at the principal amount and held to the stated\nmaturity date. If you sell your notes in a secondary market prior to the stated maturity date, your return will depend upon the market\nvalue of your notes at the time of sale, which may be affected by a number of factors that are not reflected in the table below, such\nas interest rates, the volatility of the basket underliers and our and JPMorgan Chase & Co.’s creditworthiness. In\naddition, the estimated value of the notes is less than the original issue price. For more information on the estimated value of the notes,\nsee “Summary Information — The Estimated Value of the Notes” on page PS-8 of this pricing supplement. The information\nin the table also reflects the key terms and assumptions in the box below.

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

Key Terms and Assumptions
Principal amount	$1,000
Cap level	107.80% of the initial basket level
Threshold settlement amount	$1,078.00
Threshold level	80.00% of the initial basket level
Buffer rate	1.25
Buffer amount	20.00%
\n The originally scheduled determination date is not a disrupted day\n with respect to any basket underlier. \n During the term of the notes, each basket underlier is not discontinued,\n the method of calculating each basket underlier does not change in any material respect and each basket underlier is not modified so that\n its level does not, in the opinion of the calculation agent, fairly represent the level of that basket underlier had those modifications\n not been made. \n Notes purchased on original issue date at the principal amount and\n held to the stated maturity date

For these reasons, the actual performance of the basket over the\nterm of your notes, as well as the amount payable at maturity, if any, may bear little relation to the hypothetical examples shown below\nor to the historical levels of each basket underlier shown elsewhere in this pricing supplement. For information about the historical\nlevels of each basket underlier during recent periods, see “The Basket and the Basket Underliers — Historical Closing Levels\nof the Basket Underliers” below. Before investing in the offered notes, you should consult publicly available information to determine\nthe levels of the basket underliers between the date of this pricing supplement and the date of your purchase of the offered notes.

Also, the hypothetical examples shown below do not take into account\nthe effects of applicable taxes. Because of the U.S. tax treatment applicable to your notes, tax liabilities could affect the after-tax\nrate of return on your notes to a comparatively greater extent than the after-tax return on the basket underliers.

The levels in the left column of the table below represent hypothetical\nfinal basket levels and are expressed as percentages of the initial basket level. The amounts in the right column represent the hypothetical\npayments at maturity, based on the corresponding hypothetical final basket level (expressed

PS-11

as a percentage of the initial basket level), and are expressed as percentages\nof the principal amount of a note (rounded to the nearest one-thousandth of a percent). Thus, a hypothetical payment at maturity of 100.000%\nmeans that the value of the cash payment that we would deliver for each $1,000 of the outstanding principal amount of the offered notes\non the stated maturity date would equal 100.000% of the principal amount of a note, based on the corresponding hypothetical final basket\nlevel (expressed as a percentage of the initial basket level) and the assumptions noted above.

\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

Hypothetical Final Basket Level \n(as Percentage of Initial Basket Level)	Hypothetical Payment at Maturity \n(as Percentage of Principal Amount)
150.000%	107.800%
140.000%	107.800%
130.000%	107.800%
120.000%	107.800%
110.000%	107.800%
107.800%	107.800%
105.000%	107.800%
102.500%	107.800%
100.000%	107.800%
95.000%	107.800%
90.000%	107.800%
80.000%	107.800%
75.000%	93.750%
50.000%	62.500%
25.000%	31.250%
0.000%	0.000%

If, for example, the final basket level were determined to be 25.000%\nof the initial basket level, the payment that we would deliver on your notes at maturity would be 31.250% of the principal amount of your\nnotes, as shown in the table above. As a result, if you purchased your notes on the original issue date at the principal amount and held\nthem to the stated maturity date, you would lose 68.750% of your investment (if you purchased your notes at a premium to principal amount\nyou would lose a correspondingly higher percentage of your investment). In addition, if the final basket level were determined to be 150.000%\nof the initial basket level, the payment that we would deliver on your notes at maturity would be capped at the threshold settlement amount\n(expressed as a percentage of the principal amount), or 107.800% of each $1,000 principal amount note, as shown in the table above. As\na result, if you held your notes to the stated maturity date, you would not benefit from any increase in the final basket level over 107.800%\nof the initial basket level.

The following chart also shows a graphical illustration of the hypothetical\npayments at maturity (expressed as a percentage of the principal amount of your notes) that we would pay on your notes on the stated maturity\ndate, if the final basket level (expressed as a percentage of the initial basket level) were any of the hypothetical levels shown on the\nhorizontal axis. The chart shows that any hypothetical final basket level (expressed as a percentage of the initial basket level) of less\nthan 80.000% (the section left of the 80.000% marker on the horizontal axis) would result in a hypothetical payment at maturity of less\nthan 100.000% of the principal amount of your notes (the section below the 100.000% marker on the vertical axis) and, accordingly, in\na loss of principal to the holder of the notes. The chart also shows that any hypothetical final basket level (expressed as a percentage\nof the initial basket level) of greater than or equal to 80.000% (the section right of the 80.000% marker on the horizontal axis) would\nresult in a capped return on your investment.

PS-12

$\"\"$

The following examples illustrate the hypothetical payment at maturity\non each $1,000 principal amount note based on hypothetical initial basket underlier levels, each of which we refer to as an “initial\nlevel,” and closing levels of the basket underliers on the determination date, each of which we refer to as a “final level,”\ncalculated based on the key terms and assumptions above. The hypothetical initial level for each basket underlier of 100.00 has been chosen\nfor illustrative purposes only and does not represent the actual initial level for that basket underlier. For historical data regarding\nthe actual historical levels of the basket underliers, please see the historical information set forth below under “The Basket and\nthe Basket Underliers.” The levels in Column A represent the hypothetical initial levels for each basket underlier, and the levels\nin Column B represent hypothetical final levels for each basket underlier. The percentages in Column C represent hypothetical final levels\nfor each basket underlier in Column B expressed as percentages of the corresponding hypothetical initial levels in Column A. The amounts\nin Column D represent the initial weighted values of each basket underlier, and the amounts in Column E represent the products\nof the percentages in Column C times the corresponding amounts in Column D. The final basket level for each example is shown beneath\neach example, and will equal the sum of the five products shown in Column E. The basket return for each example is shown beneath\nthe final basket level for such example, and will equal the quotient of (i) the final basket level for such example minus\nthe initial basket level divided by (ii) the initial basket level, expressed as a percentage. The values below have been rounded\nfor ease of analysis.

PS-13

Example 1: The final basket level is greater than the cap level.\nThe payment at maturity will equal the threshold settlement amount.

\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

	Column A	Column B	Column C	Column D	Column E
\n Basket\n Underlier	\n Hypothetical \n\n Initial Level	\n Hypothetical \n\n Final Level	\n Column\n B / \n Column A	\n Initial \n\n Weighted \n Value	\n Column\n C × \n Column D
EURO STOXX 50^® Index	100.00	150.00	150%	40.00	60.00
TOPIX^®Index	100.00	150.00	150%	25.00	37.50
FTSE^®100 Index	100.00	150.00	150%	17.00	25.50
Swiss Market Index	100.00	150.00	150%	11.00	16.50
S&P/ASX 200 Index	100.00	150.00	150%	7.00	10.50

\n\n \n \n

Final Basket Level:

150.00

\n\n \n \n

Basket Return:

50.00%

In this example, all of the hypothetical final levels for the basket\nunderliers are greater than the applicable hypothetical initial levels, which results in the hypothetical final basket level being greater\nthan the initial basket level of 100.00. However, because the hypothetical final basket level of 150.00 is greater than the cap level,\nthe hypothetical payment at maturity will equal the threshold settlement amount of $1,078.00.

Example 2: The final basket level is greater than the initial\nbasket level but less than the cap level. The payment at maturity will equal the threshold settlement amount.

\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

	Column A	Column B	Column C	Column D	Column E
\n Basket\n Underlier	\n Hypothetical \n\n Initial Level	\n Hypothetical \n\n Final Level	\n Column\n B / \n Column A	\n Initial \n\n Weighted \n Value	\n Column\n C × \n Column D
EURO STOXX 50^® Index	100.00	105.00	105%	40.00	42.00
TOPIX^® Index	100.00	105.00	105%	25.00	26.25
FTSE^® 100 Index	100.00	105.00	105%	17.00	17.85
Swiss Market Index	100.00	105.00	105%	11.00	11.55
S&P/ASX 200 Index	100.00	105.00	105%	7.00	7.35

\n\n \n \n

Final Basket Level:

105.00

\n\n \n \n

Basket Return:

5.00%

In this example, all of the hypothetical final\nlevels for the basket underliers are greater than the applicable hypothetical initial levels, which results in the hypothetical final\nbasket level being greater than the initial basket level of 100.00. Because the hypothetical final basket level of 105.00 is greater than\nthe threshold level, the hypothetical payment at maturity will equal the threshold settlement amount of $1,078.00.

Example 3: The final basket level is less than the initial basket\nlevel but greater than the threshold level. The payment at maturity will equal the threshold settlement amount.

\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

	Column A	Column B	Column C	Column D	Column E
\n Basket\n Underlier	\n Hypothetical \n\n Initial Level	\n Hypothetical \n\n Final Level	\n Column\n B / \n Column A	\n Initial\n Weighted \n Value	\n Column\n C × \n Column D
EURO STOXX 50^® Index	100.00	95.00	95%	40.00	38.00
TOPIX^® Index	100.00	95.00	95%	25.00	23.75
FTSE^® 100 Index	100.00	95.00	95%	17.00	16.15
Swiss Market Index	100.00	95.00	95%	11.00	10.45
S&P/ASX 200 Index	100.00	95.00	95%	7.00	6.65

PS-14

\n\n \n \n

Final Basket Level:

95.00

\n\n \n \n

Basket Return:

-5.00%

In this example, all of the hypothetical final\nlevels for the basket underliers are less than the applicable hypothetical initial levels, which results in the hypothetical final basket\nlevel being less than the initial basket level of 100.00. However, because the hypothetical final basket level of 95.00 is not less than\nthe threshold level, the hypothetical payment at maturity will equal the threshold settlement amount of $1,078.00.

Example 4: The final basket level is less than the threshold level. The\npayment at maturity is less than the $1,000 principal amount.

\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

	Column A	Column B	Column C	Column D	Column E
\n Basket\n Underlier	\n Hypothetical \n\n Initial Level	\n Hypothetical \n\n Final Level	\n Column\n B / \n Column A	\n Initial \n\n Weighted \n Value	\n Column\n C × \n Column D
EURO STOXX 50^® Index	100.00	30.00	30%	40.00	12.00
TOPIX^® Index	100.00	100.00	100%	25.00	25.00
FTSE^® 100 Index	100.00	100.00	100%	17.00	17.00
Swiss Market Index	100.00	120.00	120%	11.00	13.20
S&P/ASX 200 Index	100.00	120.00	120%	7.00	8.40

\n\n \n \n

Final Basket Level:

75.60

\n\n \n \n

Basket Return:

-24.40%

In this example, the hypothetical final level of the EURO STOXX 50^®\nIndex is less than its hypothetical initial level, while the hypothetical final levels of the TOPIX^®Index and the\nFTSE^® 100 Index are equal to their applicable hypothetical initial levels and the hypothetical final levels of the Swiss\nMarket Index and S&P/ASX 200 Index are greater than their applicable hypothetical initial levels.

Because the basket is unequally weighted, increases in the lower weighted\nbasket underliers will be offset by decreases in the more heavily weighted basket underliers. In this example, the large decline in the\nEURO STOXX 50^®Index results in the hypothetical final basket level being less than the threshold level of 80.00% of the\ninitial basket level, even though the TOPIX^®Index and the FTSE^® 100 Index remained flat and the Swiss Market\nIndex and the S&P/ASX 200 Index increased.

Because the hypothetical final basket level of 75.60 is less than\nthe threshold level of 80.00% of the initial basket level, the hypothetical payment at maturity will equal:

Payment at maturity = $1,000 + [$1,000 ×\n1.25 × (-24.40% + 20.00%)] = $945.00

Example 5: The final basket level is less than the threshold level.\nThe payment at maturity is less than the $1,000 principal amount.

\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

	Column A	Column B	Column C	Column D	Column E
\n Basket\n Underlier	\n Hypothetical \n\n Initial Level	\n Hypothetical \n\n Final Level	\n Column\n B / \n Column A	\n Initial \n\n Weighted \n Value	\n Column\n C × \n Column D
EURO STOXX 50^® Index	100.00	150.00	150%	40.00	60.00
TOPIX^® Index	100.00	25.00	25%	25.00	6.25
FTSE^® 100 Index	100.00	25.00	25%	17.00	4.25
Swiss Market Index	100.00	25.00	25%	11.00	2.75
S&P/ASX 200 Index	100.00	25.00	25%	7.00	1.75

\n\n \n \n

Final Basket Level:

75.00

\n\n \n \n

Basket Return:

-25.00%

PS-15

In this example, although the hypothetical final\nlevel for one of the basket underliers is greater than its applicable hypothetical initial level, the hypothetical final levels of the\nother basket underliers decrease significantly from their hypothetical initial levels, which results in the hypothetical final basket\nlevel being less than the threshold level. Because the hypothetical final basket level of 75.00 is less than the threshold level, the\nhypothetical payment at maturity will equal:

Payment at maturity = $1,000 + [$1,000 ×\n1.25 × (-25.00% + 20.00%)] = $937.50

The payments at maturity shown above are entirely hypothetical; they\nare based on closing levels for the basket underliers that may not be achieved on the determination date and on assumptions that may prove\nto be erroneous. The actual market value of your notes on the stated maturity date or at any other time, including any time you may wish\nto sell your notes, may bear little relation to the hypothetical payments at maturity shown above, and these amounts should not be viewed\nas an indication of the financial return on an investment in the offered notes. The hypothetical payments at maturity on notes held to\nthe stated maturity date in the examples above assume you purchased your notes at their principal amount and have not been adjusted to\nreflect the actual price you pay for your notes. The return on your investment (whether positive or negative) in your notes will be affected\nby the amount you pay for your notes. If you purchase your notes for a price other than the principal amount, the return on your investment\nwill differ from, and may be significantly lower than, the hypothetical returns suggested by the above examples. Please read “Selected\nRisk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — Secondary Market Prices of\nthe Notes Will Be Impacted by Many Economic and Market Factors” on page PS-21 of this pricing supplement.

The hypothetical returns on the notes shown above apply only if\nyou hold the notes for their entire term. These hypotheticals do not reflect fees or expenses that would be associated with any sale\nin the secondary market. If these fees and expenses were included, the hypothetical returns shown above would likely be lower.

We cannot predict the actual final basket level\nor what the market value of your notes will be on any particular day, nor can we predict the relationship between the level of each basket\nunderlier and the market value of your notes at any time prior to the stated maturity date. The actual amount that you will receive, if\nany, at maturity and the rate of return on the offered notes will depend on the actual final basket level determined by the calculation\nagent as described above. Moreover, the assumptions on which the hypothetical returns are based may turn out to be inaccurate. Consequently,\nthe amount of cash to be paid in respect of your notes, if any, on the stated maturity date may be very different from the information\nreflected in the table and chart above.

PS-16

Selected Risk Factors

An investment in your notes is subject\nto the risks described below, as well as the risks described under the “Risk Factors” sections of the accompanying prospectus\nsupplement and the accompanying product supplement. Your notes are a riskier investment than ordinary debt securities. Also, your notes\nare not equivalent to investing directly in the underlier stocks, i.e., the stocks underlying the basket underliers that compose the basket\nto which your notes are linked. You should carefully consider whether the offered notes are suited to your particular circumstances.

Risks Relating to the Notes Generally

You May Lose Some or All of Your Investment\nin the Notes

The notes do not guarantee any return of principal. The return on\nthe notes at maturity is linked to the performance of the basket and will depend on whether the final basket level is less than the initial\nbasket level by more than 20%. Your investment will be exposed to loss on a leveraged basis if the final basket level is less than the\ninitial basket level by more than 20%. For every 1% that the final basket level is less than the initial basket level by more than 20%,\nyou will lose an amount equal to 1.25% of the principal amount of your notes. Accordingly, you could lose some or all of your initial\ninvestment at maturity. Also, the market price of your notes prior to the stated maturity date may be significantly lower than the purchase\nprice you pay for your notes. Consequently, if you sell your notes before the stated maturity date, you may receive far less than the\namount of your investment in the notes.

Your Maximum Gain on the Notes Is Limited\nto the Threshold Settlement Amount

If the final basket level is greater than or equal to 80.00% of the\ninitial basket level, for each $1,000 principal amount note, you will receive at maturity a payment that will not exceed the threshold\nsettlement amount, regardless of any appreciation in the basket, which may be significant. Accordingly, the amount payable on your notes\nmay be significantly less than it would have been had you invested directly in the basket underliers. The threshold settlement amount\nis $1,078.00.

The Notes Are Subject to the Credit Risks\nof JPMorgan Financial and JPMorgan Chase & Co.

The notes are subject to our and JPMorgan Chase & Co.’s\ncredit risks, and our and JPMorgan Chase & Co.’s credit ratings and credit spreads may adversely affect the market\nvalue of the notes. Investors are dependent on our and JPMorgan Chase & Co.’s ability to pay all amounts due on the\nnotes. Any actual or potential change in our or JPMorgan Chase & Co.’s creditworthiness or credit spreads, as determined\nby the market for taking that credit risk, is likely to adversely affect the value of the notes. If we and JPMorgan Chase & Co.\nwere to default on our payment obligations, you may not receive any amounts owed to you under the notes and you could lose your entire\ninvestment.

As a Finance Subsidiary, JPMorgan Financial\nHas No Independent Activities and Has Limited Assets

As a finance subsidiary of\nJPMorgan Chase & Co., we have no independent activities beyond the issuance and administration of our securities and the\ncollection of intercompany obligations. Aside from the initial capital contribution from JPMorgan Chase & Co., substantially\nall of our assets relate to obligations of JPMorgan Chase & Co. to make payments under loans made by us to JPMorgan Chase & Co.\nor under other intercompany agreements. As a result, we are dependent upon payments from JPMorgan Chase & Co. to meet our\nobligations under the notes. We are not an operating subsidiary of JPMorgan Chase & Co. and in a bankruptcy or resolution\nof JPMorgan Chase & Co. we are not expected to have sufficient resources to meet our obligations in respect of the notes\nas they come due. If JPMorgan Chase & Co. does not make payments to us and we are unable to make payments on the notes,\nyou may have to seek payment under the related guarantee by JPMorgan Chase & Co., and that guarantee will rank pari passu\nwith all other unsecured and unsubordinated obligations of JPMorgan Chase & Co. For more information, see “Risk Factors\n— Holders of securities issued by JPMorgan Financial may be subject to losses if JPMorgan Chase & Co. were to enter\ninto a resolution” in the accompanying prospectus supplement.

PS-17

No Interest or Dividend Payments or Voting\nRights

As a holder of the notes, you will not receive interest payments.\nAs a result, even if the amount payable for your notes on the stated maturity date exceeds the principal amount of your notes, the overall\nreturn you earn on your notes may be less than you would have earned by investing in a non-basket-linked debt security of comparable maturity\nthat bears interest at a prevailing market rate. In addition, as a holder of the notes, you will not have voting rights or rights to receive\ncash dividends or other distributions or other rights that holders of the underlier stocks would have.

We May Sell an Additional Aggregate Principal\nAmount of the Notes at a Different Issue Price

At our sole option, we may decide to sell an additional aggregate\nprincipal amount of the notes subsequent to the date of this pricing supplement. The issue price of the notes in the subsequent sale may\ndiffer substantially (higher or lower) from the original issue price you paid as provided on the cover of this pricing supplement.

If You Purchase Your Notes at a Premium to\nthe Principal Amount, the Return on Your Investment Will Be Lower Than the Return on Notes Purchased at the Principal Amount and the Impact\nof Certain Key Terms of the Notes Will Be Negatively Affected

The amount you will be paid for your notes on the stated maturity\ndate will not be adjusted based on the price you pay for the notes. If you purchase notes at a price that differs from the principal amount\nof the notes, then the return on your investment in the notes held to the stated maturity date will differ from, and may be substantially\nless than, the return on notes purchased at the principal amount. If you purchase your notes at a premium to the principal amount and\nhold them to the stated maturity date the return on your investment in the notes will be lower than it would have been had you purchased\nthe notes at the principal amount or a discount to the principal amount. In addition, the impact of the threshold level and the cap level\non the return on your investment will depend upon the price you pay for your notes relative to the principal amount. For example, if you\npurchase your notes at a premium to the principal amount, the cap level will permit only a lower percentage increase in your investment\nin the notes than would have been the case for notes purchased at the principal amount or a discount to the principal amount. Similarly,\nthe threshold level, while still providing an increase in the return on the notes if the final basket level is greater than or equal to\nthe threshold level but less than the cap level, will allow a greater percentage decrease in your investment in the notes than would have\nbeen the case for notes purchased at the principal amount or a discount to the principal amount.

Correlation (or Lack of Correlation) of the\nBasket Underliers

The notes are linked to an unequally weighted basket. Performances\nof the basket underliers may or may not be correlated with each other. At a time when the values of one or more of the basket underliers\nincreases, the values of the other basket underliers may not increase as much or may even decline. Therefore, in calculating the final\nbasket level, increases in the value of one or more of the basket underliers may be moderated, or more than offset, by the lesser increases\nor declines in the values of other basket underliers. Further, because the basket underliers are unequally weighted, increases in the\nvalues of the lower-weighted basket underliers may be offset by even smaller decreases in values of the more heavily weighted basket underliers.\nIn addition, high correlation of movements in the basket underliers during periods of negative returns among the basket underliers could\nhave an adverse effect on the payment at maturity on the notes. There can be no assurance that the final basket level will be higher than\nthe threshold level.

Lack of Liquidity

The notes will not be listed on any securities exchange. JPMS intends\nto offer to purchase the notes in the secondary market but is not required to do so. Even if there is a secondary market, it may not provide\nenough liquidity to allow you to trade or sell the notes easily. Because other dealers are not likely to make a secondary market for the\nnotes, 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\nthe notes.
\n

PS-18

The Tax Consequences of an Investment in the\nNotes Are Uncertain

There is no direct legal authority as to the proper U.S. federal\nincome tax characterization of the notes, and we do not intend to request a ruling from the IRS. The IRS might not accept, and a court\nmight not uphold, the treatment of the notes described in “Key Terms — Tax treatment” in this pricing supplement and\nin “United States Federal Taxation” in the accompanying prospectus supplement. If the IRS were successful in asserting an\nalternative treatment for the notes, the timing and character of any income or loss on the notes could differ materially and adversely\nfrom our description herein. In addition, in 2007 Treasury and the IRS released a notice requesting comments on the U.S. federal income\ntax treatment of “prepaid forward contracts” and similar instruments. The notice focuses in particular on whether to require\ninvestors in these instruments to accrue income over the term of their investment. It also asks for comments on a number of related topics,\nincluding the character of income or loss with respect to these instruments; the relevance of factors such as the nature of the underlying\nproperty to which the instruments are linked; the degree, if any, to which income (including any mandated accruals) realized by non-U.S.\ninvestors should be subject to withholding tax; and whether these instruments are or should be subject to the “constructive ownership”\nregime, which very generally can operate to recharacterize certain long-term capital gain as ordinary income and impose a notional interest\ncharge. While the notice requests comments on appropriate transition rules and effective dates, any Treasury regulations or other guidance\npromulgated after consideration of these issues could materially and adversely affect the tax consequences of an investment in the notes,\npossibly with retroactive effect. You should review carefully the section entitled “United States Federal Taxation” in the\naccompanying prospectus supplement and consult your tax adviser regarding the U.S. federal income tax consequences of an investment in\nthe notes, including possible alternative treatments and the issues presented by this notice.

Risks Relating to Conflicts of Interest

Potential Conflicts of Interest

We and our affiliates play a variety of roles in connection with\nthe issuance of the notes, including acting as calculation agent and as an agent of the offering of the notes, hedging our obligations\nunder the notes and making the assumptions used to determine the pricing of the notes and the estimated value of the notes. Also, the\ndistributor from which you purchase the notes may conduct hedging activities for us in connection with the notes. In performing these\nduties, our and JPMorgan Chase & Co.’s economic interests, the economic interests of any distributor performing such\nduties and the economic interests of the calculation agent and other affiliates of ours are potentially adverse to your interests as an\ninvestor in the notes. In addition, our and JPMorgan Chase & Co.’s business activities, and the business activities\nof any distributor from which you purchase the notes, 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. If the distributor from which you purchase notes is to conduct hedging activities\nfor us in connection with the notes, that distributor may profit in connection with such hedging activities and such profit, if any, will\nbe in addition to the compensation that the distributor receives for the sale of the notes to you. You should be aware that the potential\nto earn fees in connection with hedging activities may create a further incentive for the distributor to sell the notes to you in addition\nto the compensation they would receive for the sale of the notes. Please refer to “Risk Factors — Risks Relating to Conflicts\nof Interest” on page PS-18 of the accompanying product supplement for additional information about these risks.

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

The Estimated Value of the Notes Is Lower\nThan the Original Issue Price of the Notes

The estimated value of the notes is only an estimate determined by\nreference to several factors. The original issue price of the notes exceeds the estimated value of the notes because costs associated\nwith selling, structuring and hedging the notes are included in the original issue price of the notes. These

PS-19

costs include the selling commissions, the projected profits, if\nany, that our affiliates expect to realize for assuming risks inherent in hedging our obligations under the notes, the estimated cost\nof hedging our obligations under the notes and the fees, if any, paid for third-party data analytics and/or electronic platform services.\nSee “Summary Information — The Estimated Value of the Notes” on page PS-8 of this pricing supplement.

The Estimated Value of the Notes Does Not\nRepresent Future Values of the Notes and May Differ from Others’ Estimates

The estimated value of the notes is determined by reference to internal\npricing models of our affiliates when the terms of the notes are set. This estimated value of the notes is based on market conditions\nand other relevant factors existing at that time and assumptions about market parameters, which can include volatility, dividend rates,\ninterest rates and other factors. Different pricing models and assumptions could provide valuations for the notes that are greater than\nor less than the estimated value of the notes. In addition, market conditions and other relevant factors in the future may change, and\nany assumptions may prove to be incorrect. On future dates, the value of the notes could change significantly based on, among other things,\nchanges in market conditions, our or JPMorgan Chase & Co.’s creditworthiness, interest rate movements and other relevant\nfactors, which may impact the price, if any, at which JPMS would be willing to buy notes from you in secondary market transactions. See\n“Summary Information — The Estimated Value of the Notes” on page PS-8 of this pricing supplement.

The Estimated Value of the Notes Is Derived\nby Reference to an Internal Funding Rate

The internal funding rate used in the determination of the estimated\nvalue of the notes may differ from the market-implied funding rate for vanilla fixed income instruments of a similar maturity issued by\nJPMorgan Chase & Co. or its affiliates. Any difference may be based on, among other things, our and our affiliates’\nview of the funding value of the notes as well as the higher issuance, operational and ongoing liability management costs of the notes\nin comparison to those costs for the conventional fixed income instruments of JPMorgan Chase & Co. This internal funding\nrate is based on certain market inputs and assumptions, which may prove to be incorrect, and is intended to approximate the prevailing\nmarket replacement funding rate for the notes. The use of an internal funding rate and any potential changes to that rate may have an\nadverse effect on the terms of the notes and any secondary market prices of the notes. See “Summary Information — The Estimated\nValue of the Notes” on page PS-8 of this pricing supplement.

The Value of the Notes as Published by JPMS\n(and Which May Be Reflected on Customer Account Statements) May Be Higher Than the Then-Current Estimated Value of the Notes for a Limited\nTime Period

We generally expect that some of the costs included in the original\nissue 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\nwill decline to zero over an initial predetermined period. These costs can include selling commissions, projected hedging profits, if\nany, and, in some circumstances, estimated hedging costs, our internal secondary market funding rates for structured debt issuances and\nthe fees paid for third-party data analytics and/or electronic platform services. See “Summary Information — Secondary Market\nPrices of the Notes” on page PS-9 of this pricing supplement for additional information relating to this initial period. Accordingly,\nthe estimated value of your notes during this initial period may be lower than the value of the notes as published by JPMS (and which\nmay be shown on your customer account statements).

Secondary Market Prices of the Notes Will\nLikely Be Lower Than the Original Issue Price of the Notes

Any secondary market prices of the notes will likely be lower than\nthe original issue price of the notes because, among other things, secondary market prices take into account our internal secondary market\nfunding rates for structured debt issuances and, also, because secondary market prices may exclude selling commissions, projected hedging\nprofits, if any, estimated hedging costs and fees, if any, paid for third-party data analytics and/or electronic platform services that\nare included in the original issue price of the notes. As a result, the price, if any, at which JPMS will be willing to buy notes from\nyou in secondary market transactions, if at all, is likely to be lower than the original issue price. Furthermore, if you sell

PS-20

your notes, you will likely be charged a commission for secondary\nmarket transactions, or the price will likely reflect a dealer discount and/or fees for use of an electronic platform to facilitate secondary\nmarket activity. Any sale by you prior to the maturity date could result in a substantial loss to you. See the immediately following risk\nconsideration for information about additional factors that will impact any secondary market prices of the notes.

The notes are not designed to be short-term trading instruments.\nAccordingly, you should be able and willing to hold your notes to maturity. See “— Risks Relating to the Notes Generally —\nLack of Liquidity” on page PS-18 of this pricing supplement.

Secondary Market Prices of the Notes Will\nBe Impacted by Many Economic and Market Factors

The secondary market price of the notes during\ntheir term will be impacted by a number of economic and market factors, which may either offset or magnify each other, aside from the\nselling commissions, projected hedging profits, if any, estimated hedging costs and the levels of the basket underliers, 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 of the basket underliers;

the time to maturity of the notes;

the dividend rates on the underlier stocks;

the actual or expected positive or negative correlation between the basket underliers, or the 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 the currencies in which the underlier stocks\nof the basket underliers are traded and the correlation between those rates and the closing levels of the basket underliers; and

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

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

Risks Relating to the Basket Underliers

The Notes Do Not Provide Direct Exposure to\nFluctuations in Foreign Exchange Rates

The value of your notes will not be adjusted for exchange rate fluctuations\nbetween the U.S. dollar and the currencies upon which the underlier stocks are based, although any currency fluctuations could affect\nthe performance of the basket underliers. Therefore, if the applicable currencies appreciate or depreciate relative to the U.S. dollar\nover the term of the notes, you will not receive any additional payment or incur any reduction in your payment at maturity.

The Notes Are Subject to Risks Associated\nwith Securities Issued by Non-U.S. Companies

The underlier stocks that compose the basket underliers have been\nissued by non-U.S. companies. Investments in securities linked to the value of such non-U.S. equity securities involve risks associated

PS-21

with the home countries and/or the securities markets in the home\ncountries of the issuers of those non-U.S. equity securities, including risks of volatility in those markets, governmental intervention\nin those markets and cross shareholdings in companies in certain countries. Also, there is generally less publicly available information\nabout companies in some of these jurisdictions than there is about U.S. companies that are subject to the reporting requirements of the\nSEC, and generally non-U.S. companies are subject to accounting, auditing and financial reporting standards and requirements and securities\ntrading rules different from those applicable to U.S. reporting companies. The prices of securities in foreign markets may be affected\nby political, economic, financial and social factors in those countries, or global regions, including changes in government, economic\nand fiscal policies and currency exchange laws.

PS-22

THE BAsKET AND\nthe BASKET UnderlierS

The Basket

The basket is an unequally weighted basket composed of five indices\nwith the initial weights within the basket set forth in the table 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 \n \n \n \n \n \n \n \n \n

Basket Underlier Information as of October 30, 2026
Basket Underlier	Bloomberg \nTicker Symbol	Initial Weight in \n Basket	Basket Underlier \n Closing Level
EURO STOXX 50^® Index	SX5E	40.00%	6,131.31
TOPIX^® Index	TPX	25.00%	3,965.07
FTSE^® 100 Index	UKX	17.00%	10,729.78
Swiss Market Index	SMI	11.00%	14,810.66
S&P/ASX 200 Index	AS51	7.00%	8,908.135

The EURO STOXX 50^® Index

The EURO STOXX 50^® Index is a free-float market capitalization-weighted\nindex composed of 50 of the largest stocks in terms of free-float market capitalization traded on the major exchanges of 11 Eurozone countries:\nAustria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. The EURO STOXX 50^®\nIndex and STOXX^® are the intellectual property (including registered trademarks) of STOXX Limited and/or its licensors\n(the “Licensors”), which are used under license. The notes based on the EURO STOXX 50^® Index are in no way\nsponsored, endorsed, sold or promoted by STOXX Limited and its Licensors and neither STOXX Limited nor any of its Licensors shall have\nany liability with respect thereto. For additional information about the EURO STOXX 50^® Index, see the information set\nforth under “Equity Index Descriptions — The STOXX Benchmark Indices” on page US-79 of the accompanying underlying supplement.

In addition, information about the EURO STOXX 50^®\nIndex may be obtained from other sources including, but not limited to, that basket underlier sponsor’s website (including information\nregarding that basket underlier’s (i) top ten constituents and their weightings, (ii) sector weightings and (iii) country weightings).\nWe are not incorporating by reference into this pricing supplement the website or any material it includes. Neither we nor any agent or\ndealer for this offering makes any representation that this publicly available information regarding that basket underlier is accurate\nor complete.

The TOPIX^® Index

The TOPIX^® Index, also known as the Tokyo Stock Price\nIndex, is a free float-adjusted market capitalization-weighted index of common stocks listed on the Tokyo Stock Exchange, Inc. covering\nan extensive portion of the Japanese stock market. For additional information about the TOPIX^® Index, see the information\nset forth under “Equity Index Descriptions — The TOPIX^® Index” on page US-100 of the accompanying underlying\nsupplement.

In addition, information about the TOPIX^® Index may\nbe obtained from other sources including, but not limited to, that basket underlier sponsor’s website (including information regarding\nthat basket underlier’s sector weightings). We are not incorporating by reference into this pricing supplement the website or any\nmaterial it includes. Neither we nor any agent or dealer for this offering makes any representation that this publicly available information\nregarding that basket underlier is accurate or complete.

The FTSE^®100 Index

The FTSE^® 100 Index measures the composite price performance\nof stocks of the 100 largest U.K. companies (determined on the basis of market capitalization) traded on the London Stock Exchange. For

PS-23

additional information about the FTSE^® 100 Index,\nsee the information set forth under “Equity Index Descriptions — The FTSE^® 100 Index” on page US-8 of\nthe accompanying underlying supplement.

In addition, information about the FTSE^® 100 Index\nmay be obtained from other sources including, but not limited to, that basket underlier sponsor’s website (including information\nregarding that basket underlier’s (i) top five constituents and their weightings and (ii) sector weightings). We are not incorporating\nby reference into this pricing supplement the website or any material it includes. Neither we nor any agent or dealer for this offering\nmakes any representation that this publicly available information regarding that basket underlier is accurate or complete.

The Swiss Market Index

The Swiss Market Index (“SMI^®”) is a free\nfloat-adjusted market capitalization-weighted price return index of the Swiss equity market. The SMI^® comprises the 20\nmost highly capitalized and liquid stocks of the Swiss Performance Index^®. For additional information about the Swiss Market\nIndex, see the information set forth under “Equity Index Descriptions — The Swiss Market Index” on page US-96 of the\naccompanying underlying supplement.

In addition, information about the Swiss Market Index may be obtained\nfrom other sources including, but not limited to, that basket underlier sponsor’s website (including information regarding that\nbasket underlier’s (i) top ten constituents and their weightings and (ii) sector weightings). We are not incorporating by reference\ninto this pricing supplement the website or any material it includes. Neither we nor any agent or dealer for this offering makes any representation\nthat this publicly available information regarding that basket underlier is accurate or complete.

The S&P/ASX 200 Index

The S&P/ASX 200 Index is designed to be the primary gauge for the Australian\nequity market, and it is recognized as an investable benchmark in Australia. The S&P/ASX 200 Index measures the performance of the\n200 largest and most liquid index-eligible stocks listed on the Australian Securities Exchange by float-adjusted market capitalization.\nFor additional information about the S&P/ASX 200 Index, see the information set forth under “Equity Index Descriptions —\nThe S&P/ASX 200 Index” on page US-41 of the accompanying underlying supplement.

In addition, information about the S&P/ASX 200 Index may be obtained\nfrom other sources including, but not limited to, that basket underlier sponsor’s website (including information regarding that\nbasket underlier’s (i) top ten constituents, (ii) sector weightings and (iii) country weightings). We are not incorporating by reference\ninto this pricing supplement the website or any material it includes. Neither we nor any agent or dealer for this offering makes any representation\nthat this publicly available information regarding that basket underlier is accurate or complete.

Historical\nBasket Levels

You should not take the historical levels of the basket or the\nbasket underliers as an indication of the future performance of the basket or the basket underliers, respectively. We cannot give\nyou any assurance that the future performance of the basket, basket underliers or the underlier stocks will result in a return of any\nof your initial investment on the stated maturity date. In light of the increased volatility currently being experienced by the securities\nmarkets, and recent market declines, it may be substantially more likely that you could lose all or a substantial portion of your investment\nin the notes.

Neither we nor any of our affiliates make any representation to you\nas to the performance of the basket or the basket underliers. The actual performance of the basket or the basket underliers over the term\nof the offered notes, as well as the amount payable at maturity, may bear little relation to the historical levels shown below.

The following graph is based\non the basket closing levels for the period from January 4, 2021 through October 30, 2026, assuming that the basket closing level was\n100 on January 4, 2021. We derived the basket closing levels based on the method of\ncalculating the basket closing level as described in this pricing supplement and on the closing levels of the relevant basket underliers\non the relevant dates. We

PS-24

obtained the closing levels reflected in the graph below from the\nBloomberg Professional^® service (“Bloomberg”), without independent verification. The basket closing level has\nbeen normalized such that its hypothetical level on January 4, 2021 was 100. As noted in this pricing\nsupplement, the initial basket level was set at 100 on the trade date. The basket closing level can increase or decrease due to\nchanges in the levels of the basket underliers. The graph below is for illustrative purposes only.

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\n

PS-25

Historical Closing Levels of the Basket Underliers

The respective closing levels of the basket underliers have fluctuated\nin the past and may, in the future, experience significant fluctuations. Any historical upward or downward trend in the closing levels\nof the basket underliers during any period shown below is not an indication that the basket underliers are more or less likely to increase\nor decrease at any time during the term of your notes.

The graphs below show the closing levels of the basket underliers\non each day from January 4, 2021 through October 30, 2026. We obtained the closing levels above and in the graphs below from Bloomberg,\nwithout independent verification.

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PS-26

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PS-27

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PS-28

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