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$\"\"$

November 2, 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

$250,000

Auto Callable Accelerated Barrier Notes Linked to the iShares®

Silver Trust due November 1, 2029

Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.

• The notes are designed for investors who seek early exit prior to maturity at a premium if, on the Review Date, the

closing price of one share of the iShares® Silver Trust, which we refer to as the Fund, is at or above the Call Value.

• The date on which an automatic call may be initiated is November 4, 2027.

• The notes are also designed for investors who seek an uncapped return of 2.00 times any appreciation of the Fund at

maturity, if the notes have not been automatically called.

• Investors should be willing to forgo interest payments and be willing to lose a significant portion or all of their principal

amount at maturity.

• 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.

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

• The notes priced on November 2, 2026 (the “Pricing Date”) and are expected to settle on or about November 5, 2026.

The Strike Value has been determined by reference to the closing price of one share of the Fund on October 29,

2026 and not by reference to the closing price of one share of the Fund on the Pricing Date.

• CUSIP: 46661QFT7

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

$7.50

$992.50

Total

$250,000

$1,875

$248,125

(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 $7.50 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 $973.60 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

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

Key Terms

Issuer: JPMorgan Chase Financial Company LLC, a direct,

wholly owned finance subsidiary of JPMorgan Chase & Co.

Guarantor: JPMorgan Chase & Co.

Fund: The iShares® Silver Trust (Bloomberg ticker: SLV)

Call Premium Amount: $142.00 per $1,000 principal amount

note

Call Value: 100.00% of the Strike Value

Upside Leverage Factor: 2.00

Barrier Amount: 65.00% of the Strike Value, which is $30.732

Strike Date: October 29, 2026

Pricing Date: November 2, 2026

Original Issue Date (Settlement Date): On or about

November 5, 2026

Review Date*: November 4, 2027

Call Settlement Date*: November 9, 2027

Observation Date*: October 29, 2029

Maturity Date*: November 1, 2029

* 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 a

Single Underlying — Notes Linked to a Single Underlying (Other

Than a Commodity Index)” 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

Automatic Call:

If the closing price of one share of the Fund on the Review Date is

greater than or equal to the Call Value, the notes will be automatically

called for a cash payment, for each $1,000 principal amount note,

equal to (a) $1,000 plus (b) the Call Premium Amount, payable on the

Call Settlement Date. No further payments will be made on the

notes.

If the notes are automatically called, you will not benefit from the

Upside Leverage Factor that applies to the payment at maturity if the

Final Value is greater than the Strike Value. Because the Upside

Leverage Factor does not apply to the payment upon an automatic

call, the payment upon an automatic call may be significantly less

than the payment at maturity for the same level of appreciation in the

Fund.

Payment at Maturity:

If the notes have not been automatically called and the Final Value is

greater than the Strike Value, your payment at maturity per $1,000

principal amount note will be calculated as follows:

$1,000 + ($1,000 × Fund Return × Upside Leverage Factor)

If the notes have not been automatically called and the Final Value is

equal to the Strike Value or is less than the Strike Value but greater

than or equal to the Barrier Amount, you will receive the principal

amount of your notes at maturity.

If the notes have not been automatically called and the Final Value is

less than the Barrier Amount, your payment at maturity per $1,000

principal amount note will be calculated as follows:

$1,000 + ($1,000 × Fund Return)

If the notes have not been automatically called and the Final Value is

less than the Barrier Amount, you will lose more than 35.00% of your

principal amount at maturity and could lose all of your principal

amount at maturity.

Fund Return:

(Final Value – Strike Value)

Strike Value

Strike Value: The closing price of one share of the Fund on the

Strike Date, which was $47.28. The Strike Value is not the closing

price of one share of the Fund on the Pricing Date.

Final Value: The closing price of one share of the Fund on the

Observation Date

Share Adjustment Factor: The Share Adjustment Factor is

referenced in determining the closing price of one share of the Fund

and is set equal to 1.0 on the Strike 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

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

Hypothetical Payout Profile

Payment upon an Automatic Call

Payment at Maturity If the Notes Have Not Been Automatically Called

Call Premium Amount

The Call Premium Amount per $1,000 principal amount note if the notes are automatically called is $142.00.

The notes will be automatically called on the Call Settlement Date, and you will receive

(a) $1,000 plus (b) the Call Premium Amount.

No further payments will be made on the notes.

Compare the closing price of one share of the Fund to the Call Value on the Review Date.

Review Date

Automatic Call

The closing price of one

share of the Fund is

greater than or equal to

the Call Value.

The closing price of one

share of the Fund is less

than the Call Value.

Call

Value

The notes will not be automatically called. Proceed to the Observation Date.

No Automatic Call

Review Date

You will receive:

$1,000 + ($1,000 ×Fund Return ×

Upside Leverage Factor)

The notes have not

been automatically

called. Proceed to the

payment at maturity.

Observation Date Payment at Maturity

The Final Value is greater than the Strike Value.

You will receive:

$1,000 + ($1,000 ×Fund Return)

Under these circumstances, you will

lose a significant portion or all of your

principal amount at maturity.

The Final Value is equal to the Strike Value or is less

than the Strike Value but greater than or equal to

the Barrier Amount.

The Final Value is less than the Barrier Amount.

You will receive the principal amount of

your notes.

$\"\"$

PS-3 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

Payment at Maturity If the Notes Have Not Been Automatically Called

The following table illustrates the hypothetical total return and payment at maturity on the notes linked to a hypothetical Fund if the

notes have not been automatically called. 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:

• the notes have not been automatically called;

• a Strike Value of $100.00;

• an Upside Leverage Factor of 2.00; and

• a Barrier Amount of $65.00 (equal to 65.00% of the hypothetical Strike Value).

The hypothetical Strike Value of $100.00 has been chosen for illustrative purposes only and does not represent the actual Strike Value.

The actual Strike Value is the closing price of one share of the Fund on the Strike Date and is specified under “Key Terms — Strike

Value” in this pricing supplement. For historical data regarding the actual closing prices of one share of the Fund, please see the

historical information set forth under “The Fund” 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 have

been rounded for ease of analysis.

Final Value

Fund Return

Total Return on the

Notes

Payment at Maturity

$165.00

65.00%

130.00%

$2,300.00

$150.00

50.00%

100.00%

$2,000.00

$140.00

40.00%

80.00%

$1,800.00

$130.00

30.00%

60.00%

$1,600.00

$120.00

20.00%

40.00%

$1,400.00

$110.00

10.00%

20.00%

$1,200.00

$105.00

5.00%

10.00%

$1,100.00

$101.00

1.00%

2.00%

$1,020.00

$100.00

0.00%

$1,000.00

$95.00

-5.00%

0.00%

$1,000.00

$90.00

-10.00%

0.00%

$1,000.00

$80.00

-20.00%

0.00%

$1,000.00

$70.00

-30.00%

0.00%

$1,000.00

$65.00

-35.00%

0.00%

$1,000.00

$64.99

-35.01

-35.01%

$649.90

$60.00

-40.00%

$600.00

$50.00

-50.00%

$500.00

$40.00

-60.00%

$400.00

$30.00

-70.00%

$300.00

$20.00

-80.00%

$200.00

$10.00

-90.00%

$100.00

$0.00

-100.00%

$0.00

$\"\"$

PS-4 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

How the Notes Work

Upside Scenario If Automatic Call:

If the closing price of one share of the Fund on the Review Date is greater than or equal to the Call Value, the notes will be

automatically called and investors will receive on the Call Settlement Date the $1,000 principal amount plus the Call Premium Amount

of $142.00. No further payments will be made on the notes.

• If the closing price of one share of the Fund increases 40.00% as of the Review Date, the notes will be automatically called and

investors will receive a return equal to 14.20%, or $1,142.00 per $1,000 principal amount note.

Upside Scenario If No Automatic Call:

If the notes have not been automatically called and the Final Value is greater than the Strike Value, investors will receive at maturity the

$1,000 principal amount plus a return equal to the Fund Return times the Upside Leverage Factor of 2.00.

• If the notes have not been automatically called and the closing price of one share of the Fund increases 5.00%, investors will

receive at maturity a return equal to 10.00%, or $1,100.00 per $1,000 principal amount note.

Par Scenario:

If the notes have not been automatically called and the Final Value is equal to the Strike Value or is less than the Strike Value but

greater than or equal to the Barrier Amount of 65.00% of the Strike Value, investors will receive at maturity the principal amount of their

notes.

Downside Scenario:

If the notes have not been automatically called and the Final Value is less than the Barrier Amount of 65.00% of the Strike Value,

investors will lose 1% of the principal amount of their notes for every 1% that the Final Value is less than the Strike Value.

• For example, if the notes have not been automatically called and the closing price of one share of the Fund declines 60.00%,

investors will lose 60.00% of their principal amount and receive only $400.00 per $1,000 principal amount note at maturity.

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

or until automatically called. 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.

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 notes have not been automatically called and the Final Value is less than

the Barrier Amount, you will lose 1% of the principal amount of your notes for every 1% that the Final Value is less than the Strike

Value. Accordingly, under these circumstances, you will lose more than 35.00% of your principal amount at maturity and could

lose all of your principal amount at maturity.

• 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

$\"\"$

PS-5 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

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.

• IF THE NOTES ARE AUTOMATICALLY CALLED, THE APPRECIATION POTENTIAL OF THE NOTES IS LIMITED TO THE

CALL PREMIUM AMOUNT PAID ON THE NOTES,

regardless of any appreciation of the Fund, which may be significant. In addition, if the notes are automatically called, you will not

benefit from the Upside Leverage Factor that applies to the payment at maturity if the Final Value is greater than the Strike Value.

Because the Upside Leverage Factor does not apply to the payment upon an automatic call, the payment upon an automatic call

may be significantly less than the payment at maturity for the same level of appreciation in the Fund.

• THE BENEFIT PROVIDED BY THE BARRIER AMOUNT MAY TERMINATE ON THE OBSERVATION DATE —

If the Final Value is less than the Barrier Amount and the notes have not been automatically called, the benefit provided by the

Barrier Amount will terminate and you will be fully exposed to any depreciation of the Fund.

• THE AUTOMATIC CALL FEATURE MAY FORCE A POTENTIAL EARLY EXIT —

If your notes are automatically called, the term of the notes may be reduced to as short as approximately one year. There is no

guarantee that you would be able to reinvest the proceeds from an investment in the notes at a comparable return for a similar

level of risk. Even in cases where the notes are called before maturity, you are not entitled to any fees and commissions described

on the front cover of this pricing supplement.

• THE NOTES DO NOT PAY INTEREST.

• YOU WILL NOT HAVE ANY RIGHTS WITH RESPECT TO THE FUND OR THE COMMODITIES HELD BY THE FUND.

• THE RISK OF THE CLOSING PRICE OF ONE SHARE OF THE FUND FALLING BELOW THE BARRIER AMOUNT IS

GREATER IF THE PRICE OF ONE SHARE OF THE FUND IS VOLATILE.

• 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

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.

In addition, the benchmark price of the Fund’s Underlying Commodity (as defined under “The Fund” below) is administered by the

London Bullion Market Association (“LBMA”) or an independent service provider appointed by the LBMA, and we are, or one of our

affiliates is, a price participant that contributes to the determination of that price. Furthermore, our affiliate is the custodian of the

Fund. We and our affiliates will have no obligation to consider your interests as a holder of the notes in taking any actions in

connection with our roles as a price participant and a custodian that might affect the Fund or the notes.

$\"\"$

PS-6 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

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

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 price of one share of the Fund. 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.

$\"\"$

PS-7 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

Risks Relating to the Fund

• THE FUND IS NOT AN INVESTMENT COMPANY OR A COMMODITY POOL AND WILL NOT BE SUBJECT TO REGULATION

UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED, OR THE COMMODITY EXCHANGE ACT, AS

AMENDED —

Accordingly, you will not benefit from any regulatory protections afforded to persons who invest in regulated investment companies

or commodity pools.

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

MAY NOT CORRELATE WITH THE PERFORMANCE OF THE FUND’S UNDERLYING COMMODITY AS WELL AS THE NET

ASSET VALUE PER SHARE —

The Fund does not fully replicate the performance of its Underlying Commodity (as defined under “The Fund” below) due to the

fees and expenses charged by the Fund or by restrictions on access to the Underlying Commodity due to other circumstances.

The Fund does not generate any income, and as the Fund regularly sells its Underlying Commodity to pay for ongoing expenses,

the amount of its Underlying Commodity represented by each share gradually declines over time. The Fund sells its Underlying

Commodity to pay expenses on an ongoing basis irrespective of whether the trading price of the shares rises or falls in response to

changes in the price of its Underlying Commodity. The sale by the Fund of its Underlying Commodity to pay expenses at a time of

low prices for its Underlying Commodity could adversely affect the value of the notes. Additionally, there is a risk that part or all of

the Fund’s holdings in its Underlying Commodity could be lost, damaged or stolen. Access to the Fund’s Underlying Commodity

could also be restricted by natural events (such as an earthquake) or human actions (such as a terrorist attack). All of these

factors may lead to a lack of correlation between the performance of the Fund and its Underlying Commodity. In addition, 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, the Fund’s Underlying Commodity 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 performance of its Underlying Commodity as well as 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.

• THE NOTES ARE SUBJECT TO RISKS ASSOCIATED WITH SILVER —

The Fund seeks to reflect generally the performance of the price of silver, less the Fund’s expenses and liabilities. The price of

silver is primarily affected by global demand for and supply of silver. Silver prices can fluctuate widely and may be affected by

numerous factors. These include general economic trends, increases in silver hedging activity by silver producers, significant

changes in attitude by speculators and investors in silver, technical developments, substitution issues and regulation, as well as

specific factors including industrial and jewelry demand, expectations with respect to the rate of inflation, the relative strength of the

U.S. dollar (the currency in which the price of silver is generally quoted) and other currencies, interest rates, central bank sales,

forward sales by producers, global or regional political or economic events and production costs and disruptions in major silver-

producing countries, such as Mexico, China and Peru. The demand for and supply of silver affect silver prices, but not necessarily

in the same manner as supply and demand affect the prices of other commodities. The supply of silver consists of a combination

of new mine production and existing stocks of bullion and fabricated silver held by governments, public and private financial

institutions, industrial organizations and private individuals. In addition, the price of silver has on occasion been subject to very

rapid short-term changes due to speculative activities. From time to time, above-ground inventories of silver may also influence the

market. The major end uses for silver include industrial applications, jewelry and silverware. It is not possible to predict the

aggregate effect of all or any combination of these factors.

• THERE ARE RISKS RELATING TO COMMODITIES TRADING ON THE LBMA —

The Fund seeks to reflect generally the performance of the price of silver, less the Fund’s expenses and liabilities. The price of

silver is determined by the LBMA or an independent service provider appointed by the LBMA. The LBMA is a self-regulatory

association of bullion market participants. Although all market-making members of the LBMA are supervised by the Bank of

England and are required to satisfy a capital adequacy test, the LBMA itself is not a regulated entity. If the LBMA should cease

operations, or if bullion trading should become subject to a value added tax or other tax or any other form of regulation currently not

in place, the role of the LBMA silver price as a global benchmark for the value of silver may be adversely affected. The LBMA is a

principals’ market, which operates in a manner more closely analogous to an over-the-counter physical commodity market than

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PS-8 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

regulated futures markets, and certain features of U.S. futures contracts are not present in the context of LBMA trading. The LBMA

may alter, discontinue or suspend calculation or dissemination of the LBMA silver price, which could adversely affect the value of

the notes. The LBMA, or an independent service provider appointed by the LBMA, will have no obligation to consider your

interests in calculating or revising the LBMA silver price.

• SINGLE COMMODITY PRICES TEND TO BE MORE VOLATILE THAN, AND MAY NOT CORRELATE WITH, THE PRICES OF

COMMODITIES GENERALLY —

The Fund is linked to a single commodity and not to a diverse basket of commodities or a broad-based commodity index. The

Fund’s Underlying Commodity may not correlate to the price of commodities generally and may diverge significantly from the prices

of commodities generally. As a result, the notes carry greater risk and may be more volatile than notes linked to the prices of more

commodities or a broad-based commodity index.

• 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.

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PS-9 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

The Fund

The Fund is an investment trust sponsored by iShares® Delaware Trust Sponsor LLC. The Fund seeks to reflect generally the

performance of the price of silver, less the Fund’s expenses and liabilities. The assets of the Fund consists primarily of silver held by a

custodian on behalf of the Fund. We refer to silver as the Underlying Commodity with respect to the Fund. For additional information

about the Fund, see “Fund Descriptions — The iShares® Silver Trust” in the accompanying underlying supplement.

Historical Information

The following graph sets forth the historical performance of the Fund based on the weekly historical closing prices of one share of the

Fund from January 8, 2021 through October 23, 2026. The closing price of one share of the Fund on October 29, 2026 was $47.28.

We obtained the closing prices above and below from the Bloomberg Professional® service (“Bloomberg”), without independent

verification. The closing prices above and below may have been adjusted by Bloomberg for actions taken by the Fund, such as stock

splits.

The historical closing prices of one share of the Fund should not be taken as an indication of future performance, and no assurance can

be given as to the closing price of one share of the Fund on the Review Date or the Observation Date. There can be no assurance that

the performance of the Fund will result in the return of any of your principal amount.

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. In addition, long-term capital gain that you would otherwise recognize in respect

of your notes up to the amount of the “net underlying long-term capital gain” could, if you are an individual or other non-corporate

investor, be subject to tax at the higher rates applicable to “collectibles” instead of the general rates that apply to long-term capital gain.

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.

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PS-10 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

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, 2029 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, 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

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PS-11 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

and other affiliated or unaffiliated dealers, 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. 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 Fund” 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

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PS-12 | Structured Investments

Auto Callable Accelerated Barrier Notes Linked to the iShares® Silver Trust

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

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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