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$\"\"$

October 14, 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. 5-I dated April 17, 2026 and the prospectus and

prospectus supplement, each dated April 17, 2026

JPMorgan Chase Financial Company LLC

Structured Investments

$1,877,000

Auto Callable Contingent Interest Notes Linked to the

MerQube US Large-Cap Vol Advantage Index due October

17, 2031

Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.

• The notes are designed for investors who seek a Contingent Interest Payment with respect to each quarterly Interest

Review Date for which the closing level of the MerQube US Large-Cap Vol Advantage Index, which we refer to as the

Index, is greater than or equal to 60.00% of the Initial Value, which we refer to as the Interest Barrier.

• If the closing level of the Index is greater than or equal to the Interest Barrier on any Interest Review Date, investors will

receive, in addition to the Contingent Interest Payment with respect to that Interest Review Date, any previously unpaid

Contingent Interest Payments for prior Interest Review Dates.

• The notes will be automatically called if the closing level of the Index on any semiannual Autocall Review Date is greater

than or equal to the Initial Value.

• The earliest date on which an automatic call may be initiated is October 14, 2027.

• Investors should be willing to accept the risk of losing a significant portion or all of their principal and the risk that no

Contingent Interest Payment may be made with respect to some or all Interest Review Dates.

• Investors should also be willing to forgo fixed interest and dividend payments, in exchange for the opportunity to receive

Contingent Interest Payments.

• The Index is subject to a 6.0% per annum daily deduction. This daily deduction will offset any appreciation of

the futures contracts included in the Index, will heighten any depreciation of those futures contracts and will

generally be a drag on the performance of the Index. The Index will trail the performance of an identical index

without a deduction. See “Selected Risk Considerations — Risks Relating to the Notes Generally — The Level

of the Index Will Include a 6.0% per Annum Daily Deduction” in this pricing supplement.

• 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 October 14, 2026 and are expected to settle on or about October 16, 2026.

• CUSIP: 46661PR33

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, “Risk

Factors” beginning on page US-4 of the accompanying underlying supplement and “Selected Risk Considerations”

beginning on page PS-6 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

$1,877,000

$14,077.50

$1,862,922.50

(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 $930.00 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 Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Key Terms

Issuer: JPMorgan Chase Financial Company LLC, a direct,

wholly owned finance subsidiary of JPMorgan Chase & Co.

Guarantor: JPMorgan Chase & Co.

Index: The MerQube US Large-Cap Vol Advantage Index

(Bloomberg ticker: MQUSLVA). The level of the Index reflects a

deduction of 6.0% per annum that accrues daily.

Contingent Interest Payments: If the notes have not been

automatically called and the closing level of the Index on any

Interest Review Date is greater than or equal to the Interest

Barrier, you will receive on the applicable Interest Payment Date

for each $1,000 principal amount note a Contingent Interest

Payment equal to $33.125 (equivalent to a Contingent Interest

Rate of 13.25% per annum, payable at a rate of 3.3125% per

quarter), plus any previously unpaid Contingent Interest Payments

for any prior Interest Review Dates.

If the Contingent Interest Payment is not paid on any Interest

Payment Date, that unpaid Contingent Interest Payment will be

paid on a later Interest Payment Date if the closing level of the

Index on the Interest Review Date related to that later Interest

Payment Date is greater than or equal to the Interest Barrier. You

will not receive any unpaid Contingent Interest Payments if the

closing level of the Index on each subsequent Interest Review

Date is less than the Interest Barrier.

Contingent Interest Rate: 13.25% per annum, payable at a rate

of 3.3125% per quarter

Interest Barrier: 60.00% of the Initial Value, which is 2,563.77

Trigger Value: 50.00% of the Initial Value, which is 2,136.475

Pricing Date: October 14, 2026

Original Issue Date (Settlement Date): On or about October 16,

2026

Interest Review Dates*: January 14, 2027, April 14, 2027, July

14, 2027, October 14, 2027, January 14, 2028, April 17, 2028,

July 14, 2028, October 16, 2028, January 16, 2029, April 16,

2029, July 16, 2029, October 15, 2029, January 14, 2030, April

15, 2030, July 15, 2030, October 14, 2030, January 14, 2031,

April 14, 2031, July 14, 2031 and October 14, 2031 (the “final

Review Date”)

Autocall Review Dates*: October 14, 2027, April 17, 2028,

October 16, 2028, April 16, 2029, October 15, 2029, April 15,

2030, October 14, 2030 and April 14, 2031

Call Settlement Date*: If the notes are automatically called on

any Autocall Review Date, the first Interest Payment Date

immediately following that Autocall Review Date

Interest Payment Dates*: January 20, 2027, April 19, 2027, July

19, 2027, October 19, 2027, January 20, 2028, April 20, 2028,

July 19, 2028, October 19, 2028, January 19, 2029, April 19,

2029, July 19, 2029, October 18, 2029, January 17, 2030, April

18, 2030, July 18, 2030, October 17, 2030, January 17, 2031,

April 17, 2031, July 17, 2031 and the Maturity Date

Maturity Date*: October 17, 2031

* Subject to postponement in the event of a market disruption

event and as described under “Supplemental Terms of the Notes

— Postponement of a Determination Date — Notes Linked Solely

to an Index” in the accompanying underlying supplement and

“General Terms of Notes — Postponement of a Payment Date” in

the accompanying product supplement

Automatic Call:

If the closing level of the Index on any Autocall Review Date is

greater than or equal to the Initial 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 Contingent Interest

Payment applicable to the Interest Review Date corresponding to

that Autocall Review Date plus (c) any previously unpaid

Contingent Interest Payments for any prior Interest Review Dates,

payable on the applicable Call Settlement Date. No further

payments will be made on the notes.

Payment at Maturity:

If the notes have not been automatically called and the Final

Value is greater than or equal to the Trigger Value, you will

receive a cash payment at maturity, for each $1,000 principal

amount note, equal to (a) $1,000 plus (b) the Contingent Interest

Payment, if any, applicable to the final Review Date plus (c) if the

Contingent Interest Payment applicable to the final Review Date is

payable, any previously unpaid Contingent Interest Payments for

any prior Interest Review Dates.

If the notes have not been automatically called and the Final

Value is less than the Trigger Value, your payment at maturity per

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

$1,000 + ($1,000 × Index Return)

If the notes have not been automatically called and the Final

Value is less than the Trigger Value, you will lose more than

50.00% of your principal amount at maturity and could lose all of

your principal amount at maturity.

Index Return:

(Final Value – Initial Value)

Initial Value

Initial Value: The closing level of the Index on the Pricing Date,

which was 4,272.95

Final Value: The closing level of the Index on the final Review

Date

$\"\"$

PS-2 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

The MerQube US Large-Cap Vol Advantage Index

The MerQube US Large-Cap Vol Advantage Index (the “Index”) was developed by MerQube (the “Index Sponsor” and “Index

Calculation Agent”), in coordination with JPMS, and is maintained by the Index Sponsor and is calculated and published by the Index

Calculation Agent. The Index was established on February 11, 2022. An affiliate of ours currently has an approximately 10% equity

interest in the Index Sponsor, and an employee of JPMS, another of our affiliates, is a member of the board of directors of the Index

Sponsor.

The Index attempts to provide a dynamic rules-based exposure to an unfunded rolling position in E-mini® S&P 500® futures (the

“Futures Contracts”), which reference the S&P 500® Index, while targeting a level of implied volatility, with a maximum exposure to the

Futures Contracts of 500% and a minimum exposure to the Futures Contracts of 0%. The Index is subject to a 6.0% per annum daily

deduction. The S&P 500® Index consists of stocks of 500 companies selected to provide a performance benchmark for the U.S. equity

markets. For more information about the Futures Contracts and the S&P 500® Index, see “Background on the Futures Contracts —

Background on E-mini® S&P 500® Futures” and “Background on the S&P 500® Index,” respectively, in the accompanying underlying

supplement.

On each weekly Index rebalance day, the exposure to the Futures Contracts is set equal to (a) the 35% implied volatility target (the

“target volatility”) divided by (b) the one-week implied volatility of the State Street® SPDR® S&P 500® ETF Trust (the “SPY Fund”),

subject to a maximum exposure of 500%. For example, if the implied volatility of the SPY Fund is equal to 17.5%, the exposure to the

Futures Contracts will equal 200% (or 35% / 17.5%) and if the implied volatility of the SPY Fund is equal to 40%, the exposure to the

Futures Contracts will equal 87.5% (or 35% / 40%). The Index’s exposure to the Futures Contracts will be greater than 100% when the

implied volatility of the SPY Fund is below 35%, and the Index’s exposure to the Futures Contracts will be less than 100% when the

implied volatility of the SPY Fund is above 35%. In general, the Index’s target volatility feature is expected to result in the volatility of

the Index being more stable over time than if no target volatility feature were employed. No assurance can be provided that the

volatility of the Index will be stable at any time.

The investment objective of the SPY Fund is to provide investment results that, before expenses, correspond generally to the price and

yield performance of the S&P 500® Index. For more information about the SPY Fund, see “Background on the State Street® SPDR®

S&P 500® ETF Trust” in the accompanying underlying supplement. The Index uses the implied volatility of the SPY Fund as a proxy for

the volatility of the Futures Contracts.

The 6.0% per annum daily deduction will offset any appreciation of the Futures Contracts, will heighten any depreciation of the Futures

Contracts and will generally be a drag on the performance of the Index. The Index will trail the performance of an identical index

without a deduction.

Holding the estimated value of the notes and market conditions constant, the Contingent Interest Rate, the Interest Barrier, the Trigger

Value and the other economic terms available on the notes are more favorable to investors than the terms that would be available on a

hypothetical note issued by us linked to an identical index without a daily deduction. However, there can be no assurance that any

improvement in the terms of the notes derived from the daily deduction will offset the negative effect of the daily deduction on the

performance of the Index. The return on the notes may be lower than the return on a hypothetical note issued by us linked to an

identical index without a daily deduction.

The daily deduction and the volatility of the Index (as influenced by the Index’s target volatility feature) are two of the primary variables

that affect the economic terms of the notes. Additionally, the daily deduction and volatility of the Index are two of the inputs our

affiliates’ internal pricing models use to value the derivative or derivatives underlying the economic terms of the notes for purposes of

determining the estimated value of the notes set forth on the cover of this pricing supplement. The daily deduction will effectively

reduce the value of the derivative or derivatives underlying the economic terms of the notes. See “The Estimated Value of the Notes”

and “Selected Risk Considerations — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes” in this pricing

supplement.

The Index is subject to risks associated with the use of significant leverage. In addition, the Index may be significantly

uninvested on any given day, and, in that case, will realize only a portion of any gains due to appreciation of the Futures

Contracts on that day. The index deduction is deducted daily at a rate of 6.0% per annum, even when the Index is not fully

invested.

No assurance can be given that the investment strategy used to construct the Index will achieve its intended results or that

the Index will be successful or will outperform any alternative index or strategy that might reference the Futures Contracts.

For additional information about the Index, see “The MerQube Vol Advantage Index Series” in the accompanying underlying

supplement.

$\"\"$

PS-3 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Supplemental Terms of the Notes

The notes are not futures contracts or swaps and are not regulated under the Commodity Exchange Act, as amended (the

“Commodity Exchange Act”). The notes are offered pursuant to an exemption from regulation under the Commodity Exchange Act,

commonly known as the hybrid instrument exemption, that is available to securities that have one or more payments indexed to the

value, level or rate of one or more commodities, as set out in section 2(f) of that statute. Accordingly, you are not afforded any

protection provided by the Commodity Exchange Act or any regulation promulgated by the Commodity Futures Trading Commission.

How the Notes Work

Payments in Connection with Interest Review Dates Preceding the Final Review Date

The closing level of the Index is greater than or

equal to the Interest Barrier.

The closing level of the Index is less than the Interest

Barrier.

Interest Review Dates Preceding the Final Review Date That Are Not Autocall Review Dates

Compare the closing level of the Index to the Interest Barrier on each Interest Review Date that is not an Autocall Review Date until the final

Review Date or any earlier automatic call. Refer to the second diagram if an Interest Review Date is also an Autocall Review Date.

You will receive (a) a Contingent Interest Payment on the applicable

Interest Payment Date plus (b) any previously unpaid Contingent Interest

Payments for any prior Interest Review Dates.

Proceed to the next Interest Review Date.

No Contingent Interest Payment will be made with respect to

the applicable Interest Review Date.

Proceed to the next Interest Review Date.

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

receive (a) $1,000 plus (b) the Contingent Interest Payment applicable to that Interest Review

Date plus (c) any previously unpaid Contingent Interest Payments for any prior Interest Review

Dates.

No further payments will be made on the notes.

Interest Review Dates That Are Also Autocall Review Dates

Automatic Call

The closing level of the

Index is greater than or

equal to the Initial Value.

The closing level of the

Index is less than the

Initial Value.

Initial

Value You will receive (a) a Contingent

Interest Payment on the applicable

Interest Payment Date plus (b) any

previously unpaid Contingent Interest

Payments for any prior Interest

Review Dates.

Proceed to the next Interest Review

Date.

The closing level of the

Index is greater than or

equal to the Interest

Barrier.

Automatic

Call No Contingent Interest Payment will

be made with respect to the applicable

Interest Review Date.

Proceed to the next Interest Review

Date.

The closing level of the Index

is less than the Interest

Barrier.

Compare the closing level of the Index to the Initial Value and the Interest Barrier on each Interest Review Date that is also an

Autocall Review Date until any earlier automatic call.

$\"\"$

PS-4 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Payment at Maturity If the Notes Have Not Been Automatically Called

Total Contingent Interest Payments

The table below illustrates the hypothetical total Contingent Interest Payments per $1,000 principal amount note over the term of the

notes based on the Contingent Interest Rate of 13.25% per annum, depending on how many Contingent Interest Payments are made

prior to automatic call or maturity.

Number of

Contingent Interest

Payments

Total Contingent

Interest Payments

$662.500

$629.375

$596.250

$563.125

$530.000

$496.875

$463.750

$430.625

$397.500

$364.375

$331.250

$298.125

$265.000

$231.875

$198.750

$165.625

$132.500

$99.375

$66.250

$33.125

$0.000

Autocall Review Dates

You will receive (a) $1,000 plus (b) the

Contingent Interest Payment, if any,

applicable to the final Review Date

plus (c) if the Contingent Interest

Payment applicable to the final Review

Date is payable, any previously unpaid

Contingent Interest Payments for any

prior Interest Review Dates.

The notes are not

automatically called.

Proceed to maturity

Final Review Date Payment at Maturity

The Final Value is greater than or equal to the

Trigger Value.

You will receive:

$1,000 + ($1,000 ×Index Return)

Under these circumstances, you will

lose a significant portion or all of your

principal amount at maturity.

The Final Value is less than the Trigger Value.

$\"\"$

PS-5 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Hypothetical Payout Examples

The following examples illustrate payments on the notes linked to a hypothetical Index, assuming a range of performances for the

hypothetical Index on the Interest Review Dates and the Autocall Review Dates. The hypothetical payments set forth below assume

the following:

• an Initial Value of 100.00;

• an Interest Barrier of 60.00 (equal to 60.00% of the hypothetical Initial Value);

• a Trigger Value of 50.00 (equal to 50.00% of the hypothetical Initial Value); and

• a Contingent Interest Rate of 13.25% per annum.

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

The actual Initial Value is the closing level of the Index on the Pricing Date and is specified under “Key Terms — Initial Value” in this

pricing supplement. For historical data regarding the actual closing levels of the Index, please see the historical information set forth

under “Hypothetical Back-Tested Data and Historical Information” in this pricing supplement.

Each hypothetical payment set forth below is for illustrative purposes only and may not be the actual payment applicable to a purchaser

of the notes. The numbers appearing in the following examples have been rounded for ease of analysis.

Example 1 — Notes are automatically called on the first Autocall Review Date.

Date

Closing Level

Payment (per $1,000 principal amount note)

First Interest Review Date

105.00

$33.125

Second through Third Interest

Review Dates

Less than Interest Barrier

Fourth Interest Review Date

(first Autocall Review Date)

110.00

$1,099.375

Total Payment

$1,132.50 (13.25% return)

Because the closing level of the Index on the first Autocall Review Date, which is also the fourth Interest Review Date, is greater than or

equal to the Initial Value, the notes will be automatically called for a cash payment, for each $1,000 principal amount note, of

$1,099.375 (or $1,000 plus the Contingent Interest Payment applicable to the fourth Interest Review Date plus the unpaid Contingent

Interest Payments for any prior Interest Review Dates), payable on the applicable Call Settlement Date. When added to the Contingent

Interest Payment received with respect to the prior Interest Review Dates, the total amount paid, for each $1,000 principal amount note,

is $1,132.50. No further payments will be made on the notes.

Example 2 — Notes have NOT been automatically called and the Final Value is greater than or equal to the Trigger Value and

the Interest Barrier.

Date

Closing Level

Payment (per $1,000 principal amount note)

First Interest Review Date

95.00

$33.125

Second Interest Review Date

85.00

$33.125

Third through Nineteenth

Interest Review Dates

Less than Interest Barrier

Final Review Date

90.00

$1,596.25

Total Payment

$1,662.50 (66.25% return)

Because the notes have not been automatically called and the Final Value is greater than or equal to the Trigger Value and the Interest

Barrier, the payment at maturity, for each $1,000 principal amount note, will be $1,596.25 (or $1,000 plus the Contingent Interest

Payment applicable to the final Review Date plus the unpaid Contingent Interest Payments for any prior Interest Review Dates). When

added to the Contingent Interest Payments received with respect to the prior Interest Review Dates, the total amount paid, for each

$1,000 principal amount note, is $1,662.50.

$\"\"$

PS-6 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Example 3 — Notes have NOT been automatically called and the Final Value is less than the Interest Barrier but is greater than

or equal to the Trigger Value.

Date

Closing Level

Payment (per $1,000 principal amount note)

First Interest Review Date

95.00

$33.125

Second Interest Review Date

80.00

$33.125

Third through Nineteenth

Interest Review Dates

Less than Interest Barrier

Final Review Date

55.00

$1,000.00

Total Payment

$1,066.25 (6.625% return)

Because the notes have not been automatically called and the Final Value is less than the Interest Barrier but is greater than or equal to

the Trigger Value, the payment at maturity, for each $1,000 principal amount note, will be $1,000.00. When added to the Contingent

Interest Payments received with respect to the prior Interest Review Dates, the total amount paid, for each $1,000 principal amount

note, is $1,066.25.

Example 4 — Notes have NOT been automatically called and the Final Value is less than the Trigger Value.

Date

Closing Level

Payment (per $1,000 principal amount note)

First Interest Review Date

40.00

Second Interest Review Date

45.00

Third through Nineteenth

Interest Review Dates

Less than Interest Barrier

Final Review Date

40.00

$400.00

Total Payment

$400.00 (-60.00% return)

Because the notes have not been automatically called, the Final Value is less than the Trigger Value and the Index Return is -60.00%,

the payment at maturity will be $400.00 per $1,000 principal amount note, calculated as follows:

$1,000 + [$1,000 × (-60.00%)] = $400.00

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, product supplement and underlying 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 Trigger Value, you will lose 1% of the principal amount of your notes for every 1% that the Final Value is less than the Initial

Value. Accordingly, under these circumstances, you will lose more than 50.00% of your principal amount at maturity and could

lose all of your principal amount at maturity.

• THE NOTES DO NOT GUARANTEE THE PAYMENT OF INTEREST AND MAY NOT PAY ANY INTEREST AT ALL —

If the notes have not been automatically called, we will make a Contingent Interest Payment with respect to an Interest Review

Date (and we will pay you any previously unpaid Contingent Interest Payments for any prior Interest Review Dates) only if the

closing level of the Index on that Interest Review Date is greater than or equal to the Interest Barrier. If the closing level of the

Index on an Interest Review Date is less than the Interest Barrier, no Contingent Interest Payment will be made with respect to that

Interest Review Date. You will not receive any unpaid Contingent Interest Payments if the closing level of the Index on each

subsequent Interest Review Date is less than the Interest Barrier. Accordingly, if the closing level of the Index on each Interest

Review Date is less than the Interest Barrier, you will not receive any interest payments over the term of the notes.

$\"\"$

PS-7 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

• THE LEVEL OF THE INDEX WILL INCLUDE A 6.0% PER ANNUM DAILY DEDUCTION —

The Index is subject to a 6.0% per annum daily deduction. The level of the Index will trail the value of an identically constituted

synthetic portfolio that is not subject to any such deduction.

The index deduction will place a significant drag on the performance of the Index, potentially offsetting positive returns on the

Index’s investment strategy, exacerbating negative returns of its investment strategy and causing the level of the Index to decline

steadily if the return of its investment strategy is relatively flat. The Index will not appreciate unless the return of its investment

strategy is sufficient to offset the negative effects of the index deduction, and then only to the extent that the return of its investment

strategy is greater than the index deduction. As a result of the index deduction, the level of the Index may decline even if the return

of its investment strategy is positive.

The daily deduction is one of the inputs our affiliates’ internal pricing models use to value the derivative or derivatives underlying

the economic terms of the notes for purposes of determining the estimated value of the notes set forth on the cover of this pricing

supplement. The daily deduction will effectively reduce the value of the derivative or derivatives underlying the economic terms of

the notes. See “The Estimated Value of the Notes” and “— Risks Relating to the Estimated Value and Secondary Market Prices of

the Notes” in this pricing supplement.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

• THE APPRECIATION POTENTIAL OF THE NOTES IS LIMITED TO THE SUM OF ANY CONTINGENT INTEREST PAYMENTS

THAT MAY BE PAID OVER THE TERM OF THE NOTES,

regardless of any appreciation of the Index, which may be significant. You will not participate in any appreciation of the Index.

• THE BENEFIT PROVIDED BY THE TRIGGER VALUE MAY TERMINATE ON THE FINAL REVIEW DATE —

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

Trigger Value will terminate and you will be fully exposed to any depreciation of the Index.

• 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 and you will not

receive any Contingent Interest Payments after the applicable Call Settlement Date. There is no guarantee that you would be able

to reinvest the proceeds from an investment in the notes at a comparable return and/or with a comparable interest rate 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.

• YOU WILL NOT RECEIVE DIVIDENDS OR OTHER DISTRIBUTIONS ON THE SECURITIES UNDERLYING THE S&P 500®

INDEX OR HAVE ANY RIGHTS WITH RESPECT TO THOSE SECURITIES OR THE FUTURES CONTRACTS UNDERLYING

THE INDEX.

• THE RISK OF THE CLOSING LEVEL OF THE INDEX FALLING BELOW THE INTEREST BARRIER OR THE TRIGGER VALUE

IS GREATER IF THE LEVEL OF THE INDEX IS VOLATILE.

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PS-8 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

• JPMS AND ITS AFFILIATES MAY HAVE PUBLISHED RESEARCH, EXPRESSED OPINIONS OR PROVIDED

RECOMMENDATIONS THAT ARE INCONSISTENT WITH INVESTING IN OR HOLDING THE NOTES, AND MAY DO SO IN

THE FUTURE —

Any research, opinions or recommendations could affect the market value of the notes. Investors should undertake their own

independent investigation of the merits of investing in the notes, the Index and the futures contracts composing the Index.

• 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.

An affiliate of ours currently has an approximately 10% equity interest in the Index Sponsor, and an employee of JPMS, another of

our affiliates, is a member of the board of directors of the Index Sponsor. The Index Sponsor can implement policies, make

judgments or enact changes to the Index methodology that could negatively affect the performance of the Index. The Index

Sponsor can also alter, discontinue or suspend calculation or dissemination of the Index. Any of these actions could adversely

affect the value of the notes. The Index Sponsor has no obligation to consider your interests in calculating, maintaining or revising

the Index, and we, JPMS, our other affiliates and our respective employees are under no obligation to consider your interests as an

investor in the notes in connection with the role of our affiliate as an owner of an equity interest in the Index Sponsor or the role of

an employee of JPMS as a member of the board of directors of the Index Sponsor.

In addition, JPMS worked with the Index Sponsor in developing the guidelines and policies governing the composition and

calculation of the Index. Although judgments, policies and determinations concerning the Index were made by JPMS, JPMorgan

Chase & Co., as the parent company of JPMS, ultimately controls JPMS. The policies and judgments for which JPMS was

responsible could have an impact, positive or negative, on the level of the Index and the value of your notes. JPMS is under no

obligation to consider your interests as an investor in the notes in its role in developing the guidelines and policies governing the

Index or making judgments that may affect the level of the Index.

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

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PS-9 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

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 level of the Index. Additionally, independent pricing vendors and/or third party broker-dealers may publish a price for

the notes, which may also be reflected on customer account statements. This price may be different (higher or lower) than the

price of the notes, if any, at which JPMS may be willing to purchase your notes in the secondary market. See “Risk Factors —

Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — Secondary market prices of the notes will be

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

Risks Relating to the Index

• JPMORGAN CHASE & CO. IS CURRENTLY ONE OF THE COMPANIES THAT MAKE UP THE S&P 500® INDEX,

but JPMorgan Chase & Co. will not have any obligation to consider your interests in taking any corporate action that might affect

the level of the S&P 500® Index.

• THE INDEX SPONSOR MAY ADJUST THE INDEX IN A WAY THAT AFFECTS ITS LEVEL, AND THE INDEX SPONSOR HAS

NO OBLIGATION TO CONSIDER YOUR INTERESTS —

The Index Sponsor is responsible for maintaining the Index. The Index Sponsor can add, delete or substitute the components of

the Index or make other methodological changes that could affect the level of the Index. The Index Sponsor has no obligation to

consider your interests in calculating or revising the Index.

• THE INDEX MAY NOT BE SUCCESSFUL OR OUTPERFORM ANY ALTERNATIVE STRATEGY THAT MIGHT BE EMPLOYED

IN RESPECT OF THE FUTURES CONTRACTS —

No assurance can be given that the investment strategy on which the Index is based will be successful or that the Index will

outperform any alternative strategy that might be employed with respect to the Futures Contracts.

• THE INDEX MAY NOT APPROXIMATE ITS TARGET VOLATILITY —

No assurance can be given that the Index will maintain an annualized realized volatility that approximates its target volatility of

35%. The Index’s target volatility is a level of implied volatility and therefore the actual realized volatility of the Index may be

greater or less than the target volatility. On each weekly Index rebalance day, the Index’s exposure to the Futures Contracts is set

equal to (a) the 35% implied volatility target divided by (b) the one-week implied volatility of the SPY Fund, subject to a maximum

exposure of 500%. The Index uses the implied volatility of the SPY Fund as a proxy for the volatility of the Futures Contracts.

However, there is no guarantee that the methodology used by the Index to determine the implied volatility of the SPY Fund will be

representative of the implied or realized volatility of the Futures Contracts. The performance of the SPY Fund may not correlate

with the performance of the Futures Contracts, particularly during periods of market volatility. In addition, the volatility of the

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PS-10 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Futures Contracts on any day may change quickly and unexpectedly and realized volatility may differ significantly from implied

volatility. In general, over time, the realized volatilities of the SPY Fund and the Futures Contracts have tended to be lower than

their respective implied volatilities; however, at any time those realized volatilities may exceed their respective implied volatilities,

particularly during periods of market volatility. Accordingly, the actual annualized realized volatility of the Index may be greater

than or less than the target volatility, which may adversely affect the level of the Index and the value of the notes.

• THE INDEX IS SUBJECT TO RISKS ASSOCIATED WITH THE USE OF SIGNIFICANT LEVERAGE —

On a weekly Index rebalance day, the Index will employ leverage to increase the exposure of the Index to the Futures Contracts if

the implied volatility of the SPY Fund is below 35%, subject to a maximum exposure of 500%. Under normal market conditions in

the past, the SPY Fund has tended to exhibit an implied volatility below 35%. Accordingly, the Index has generally employed

leverage in the past, except during periods of elevated volatility. When leverage is employed, any movements in the prices of the

Futures Contracts will result in greater changes in the level of the Index than if leverage were not used. In particular, the use of

leverage will magnify any negative performance of the Futures Contracts, which, in turn, would negatively affect the performance of

the Index. Because the Index’s leverage is adjusted only on a weekly basis, in situations where a significant increase in volatility is

accompanied by a significant decline in the value of the Futures Contracts, the level of the Index may decline significantly before

the following Index rebalance day when the Index’s exposure to the Futures Contracts would be reduced.

• THE INDEX MAY BE ADVERSELY AFFECTED BY A “VOLATILITY DRAG” EFFECT —

If the Index is not consistently successful in increasing exposure to the Futures Contracts in advance of increases in the value of

the Futures Contracts and reducing exposure to the Futures Contracts in advance of declines in the value of the Futures Contracts,

then the Index is also expected to be subject to a “volatility drag” effect, which will exacerbate the decline that results from having

highly leveraged exposure to the declines in the value of the Futures Contracts. The decay effect would result from the fact that

the Index resets the leveraged exposure to the Futures Contracts on a weekly basis and would manifest any time the value of the

Futures Contracts moves in one direction prior to a reset and another direction following the reset. The decay effect would result

because resetting leverage after an increase but in advance of a decline would cause the Index to have increased exposure to that

decline, and resetting leverage following a decline but in advance of an increase would cause the Index to have decreased

exposure to that increase. The more this fact pattern repeats, the lower the performance of the Index would be relative to the

performance of the Futures Contracts. As a consequence of this effect, if the value of the Futures Contracts falls but later returns

to its original value, the Index may not fully recover from the loss at the same time. Under these circumstances, the Futures

Contracts may need to appreciate, perhaps significantly, above its original value in order for the Index to fully recover from the loss.

• THE INDEX MAY BE SIGNIFICANTLY UNINVESTED —

On a weekly Index rebalance day, the Index’s exposure to the Futures Contracts will be less than 100% when the implied volatility

of the SPY Fund is above 35%. If the Index’s exposure to the Futures Contracts is less than 100%, the Index will not be fully

invested, and any uninvested portion will earn no return. The Index may be significantly uninvested on any given day, and will

realize only a portion of any gains due to appreciation of the Futures Contracts on any such day. The 6.0% per annum deduction

is deducted daily, even when the Index is not fully invested.

• THE INDEX MAY BE ADVERSELY AFFECTED IF LATER FUTURES CONTRACTS HAVE HIGHER PRICES THAN AN

EXPIRING FUTURES CONTRACT INCLUDED IN THE INDEX —

As the Futures Contracts included in the Index come to expiration, they are replaced by Futures Contracts that expire three months

later. This is accomplished by synthetically selling the expiring Futures Contract and synthetically purchasing the Futures Contract

that expires three months from that time. This process is referred to as “rolling.” Excluding other considerations, if the market for

the Futures Contracts is in “contango,” where the prices are higher in the distant delivery months than in the nearer delivery

months, the purchase of the later Futures Contract would take place at a price that is higher than the price of the expiring Futures

Contract, thereby creating a negative “roll yield.” In addition, excluding other considerations, if the market for the Futures Contracts

is in “backwardation,” where the prices are lower in the distant delivery months than in the nearer delivery months, the purchase of

the later Futures Contract would take place at a price that is lower than the price of the expiring Futures Contract, thereby creating

a positive “roll yield.” The presence of contango in the market for the Futures Contracts could adversely affect the level of the

Index and, accordingly, any payment on the notes.

• THE INDEX IS AN EXCESS RETURN INDEX THAT DOES NOT REFLECT “TOTAL RETURNS” —

The Index is an excess return index that does not reflect total returns. The return from investing in futures contracts derives from

three sources: (a) changes in the price of the relevant futures contracts (which is known as the “price return”); (b) any profit or loss

realized when rolling the relevant futures contracts (which is known as the “roll return”); and (c) any interest earned on the cash

deposited as collateral for the purchase of the relevant futures contracts (which is known as the “collateral return”).

$\"\"$

PS-11 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

The Index measures the returns accrued from investing in uncollateralized futures contracts (i.e., the sum of the price return and

the roll return associated with an investment in the Futures Contracts). By contrast, a total return index, in addition to reflecting

those returns, would also reflect interest that could be earned on funds committed to the trading of the Futures Contracts (i.e., the

collateral return associated with an investment in the Futures Contracts). Investing in the notes will not generate the same return

as would be generated from investing in a total return index related to the Futures Contracts.

• CONCENTRATION RISKS ASSOCIATED WITH THE INDEX MAY ADVERSELY AFFECT THE VALUE OF YOUR NOTES —

The Index generally provides exposure to a single futures contract on the S&P 500® Index that trades on the Chicago Mercantile

Exchange. Accordingly, the notes are less diversified than other funds, investment portfolios or indices investing in or tracking a

broader range of products and, therefore, could experience greater volatility. You should be aware that other indices may be more

diversified than the Index in terms of both the number and variety of futures contracts. You will not benefit, with respect to the

notes, from any of the advantages of a diversified investment and will bear the risks of a highly concentrated investment.

• THE INDEX IS SUBJECT TO SIGNIFICANT RISKS ASSOCIATED WITH FUTURES CONTRACTS, INCLUDING VOLATILITY —

The Index tracks the returns of futures contracts. The price of a futures contract depends not only on the price of the underlying

asset referenced by the futures contract, but also on a range of other factors, including but not limited to changing supply and

demand relationships, interest rates, governmental and regulatory policies and the policies of the exchanges on which the futures

contracts trade. In addition, the futures markets are subject to temporary distortions or other disruptions due to various factors,

including the lack of liquidity in the markets, the participation of speculators and government regulation and intervention. These

factors and others can cause the prices of futures contracts to be volatile.

• SUSPENSION OR DISRUPTIONS OF MARKET TRADING IN FUTURES CONTRACTS MAY ADVERSELY AFFECT THE

VALUE OF YOUR NOTES —

Futures markets like the Chicago Mercantile Exchange, the market for the Futures Contracts, are subject to temporary distortions

or other disruptions due to various factors, including the lack of liquidity in the markets, the participation of speculators, and

government regulation and intervention. In addition, futures exchanges have regulations that limit the amount of fluctuation in

some futures contract prices that may occur during a single day. These limits are generally referred to as “daily price fluctuation

limits” and the maximum or minimum price of a contract on any given day as a result of these limits is referred to as a “limit price.”

Once the limit price has been reached in a particular contract, no trades may be made at a price beyond the limit, or trading may

be limited for a set period of time. Limit prices have the effect of precluding trading in a particular contract or forcing the liquidation

of contracts at potentially disadvantageous times or prices. These circumstances could affect the level of the Index and therefore

could affect adversely the value of your notes.

• THE OFFICIAL SETTLEMENT PRICE AND INTRADAY TRADING PRICES OF THE RELEVANT FUTURES CONTRACTS MAY

NOT BE READILY AVAILABLE —

The official settlement price and intraday trading prices of the Futures Contracts are calculated and published by the Chicago

Mercantile Exchange and are used to calculate the levels of the Index. Any disruption in trading of the Futures Contracts could

delay the release or availability of the official settlement price and intraday trading prices and may delay or prevent the calculation

of the Index.

• CHANGES IN THE MARGIN REQUIREMENTS FOR THE FUTURES CONTRACTS INCLUDED IN THE INDEX MAY

ADVERSELY AFFECT THE VALUE OF THE NOTES —

Futures exchanges require market participants to post collateral in order to open and to keep open positions in futures contracts. If

an exchange changes the amount of collateral required to be posted to hold positions in the Futures Contracts, market participants

may adjust their positions, which may affect the prices of the Futures Contracts. As a result, the level of the Index may be affected,

which may adversely affect the value of the notes.

• HYPOTHETICAL BACK-TESTED DATA RELATING TO THE INDEX DO NOT REPRESENT ACTUAL HISTORICAL DATA AND

ARE SUBJECT TO INHERENT LIMITATIONS —

The hypothetical back-tested performance of the Index set forth under “Hypothetical Back-Tested Data and Historical Information”

in this pricing supplement is purely theoretical and does not represent the actual historical performance of the Index and has not

been verified by an independent third party. Hypothetical back-tested performance measures have inherent limitations.

Hypothetical back-tested performance is derived by means of the retroactive application of a back-tested model that has been

designed with the benefit of hindsight. Alternative modelling techniques might produce significantly different results and may prove

to be more appropriate. Past performance, and especially hypothetical back-tested performance, is not indicative of future results.

This type of information has inherent limitations and you should carefully consider these limitations before placing reliance on such

information.

$\"\"$

PS-12 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

• OTHER KEY RISKS:

o THE INDEX WAS ESTABLISHED ON FEBRUARY 11, 2022 AND MAY PERFORM IN UNANTICIPATED WAYS.

o HISTORICAL PERFORMANCE OF THE INDEX SHOULD NOT BE TAKEN AS AN INDICATION OF THE FUTURE

PERFORMANCE OF THE INDEX DURING THE TERM OF THE NOTES.

Please refer to the “Risk Factors” section of the accompanying underlying supplement for more details regarding the above-listed

and other risks.

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PS-13 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Hypothetical Back-Tested Data and Historical Information

The following graph sets forth the hypothetical back-tested performance of the Index based on the hypothetical back-tested weekly

closing levels of the Index from January 8, 2021 through February 4, 2022, and the historical performance of the Index based on the

weekly historical closing levels of the Index from February 11, 2022 through October 9, 2026. The Index was established on February

11, 2022, as represented by the vertical line in the following graph. All data to the left of that vertical line reflect hypothetical back-

tested performance of the Index. All data to the right of that vertical line reflect actual historical performance of the Index. The closing

level of the Index on October 14, 2026 was 4,272.95. We obtained the closing levels above and below from the Bloomberg

Professional® service (“Bloomberg”), without independent verification.

The data for the hypothetical back-tested performance of the Index set forth in the following graph are purely theoretical and do not

represent the actual historical performance of the Index. See “Selected Risk Considerations — Risks Relating to the Index —

Hypothetical Back-Tested Data Relating to the Index Do Not Represent Actual Historical Data and Are Subject to Inherent Limitations”

above.

The hypothetical back-tested and historical closing levels of the Index should not be taken as an indication of future performance, and

no assurance can be given as to the closing level of the Index on any Interest Review Date or Autocall Review Date. There can be no

assurance that the performance of the Index will result in the return of any of your principal amount or the payment of any interest.

The hypothetical back-tested closing levels of the Index have inherent limitations and have not been verified by an independent third

party. These hypothetical back-tested closing levels are determined by means of a retroactive application of a back-tested model

designed with the benefit of hindsight. Hypothetical back-tested results are neither an indicator nor a guarantee of future returns. No

representation is made that an investment in the notes will or is likely to achieve returns similar to those shown. Alternative modeling

techniques or assumptions would produce different hypothetical back-tested closing levels of the Index that might prove to be more

appropriate and that might differ significantly from the hypothetical back-tested closing levels of the Index set forth above.

$\"\"$

PS-14 | Structured Investments

Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

Cap Vol Advantage Index

Tax Treatment

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

determining our reporting responsibilities we intend to treat (i) the notes for U.S. federal income tax purposes as prepaid forward

contracts with associated contingent coupons and (ii) any Contingent Interest Payments as ordinary income, as described in the section

entitled “United States Federal Taxation — Tax Consequences to U.S. Holders — Program Securities Treated as Prepaid Financial

Contracts with Associated Coupons” in the accompanying prospectus supplement. Based on the advice of Davis Polk & Wardwell LLP,

our special tax counsel, we believe that this is a reasonable treatment, but that there are other reasonable treatments 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 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 and the relevance of factors such as the nature of the underlying property to which the

instruments are linked. 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 affect the tax consequences of an

investment in the notes, possibly with retroactive effect. The discussions above and in the accompanying prospectus supplement do not

address the consequences to taxpayers subject to special tax accounting rules under Section 451(b) of the Code. You should consult

your tax adviser regarding the U.S. federal income tax consequences of an investment in the notes, including possible alternative

treatments and the issues presented by the notice described above.

Non-U.S. Holders — Tax Considerations. The U.S. federal income tax treatment of Contingent Interest Payments is uncertain, and

although we believe it is reasonable to take a position that Contingent Interest Payments are not subject to U.S. withholding tax (at least

if an applicable Form W-8 is provided), it is expected that withholding agents will (and we, if we are the withholding agent, intend to)

withhold on any Contingent Interest Payment paid to a Non-U.S. Holder generally at a rate of 30% or at a reduced rate specified by an

applicable income tax treaty under an “other income” or similar provision. We will not be required to pay any additional amounts with

respect to amounts withheld. In order to claim an exemption from, or a reduction in, the 30% withholding tax, a Non-U.S. Holder of the

notes must comply with certification requirements to establish that it is not a U.S. person and is eligible for such an exemption or

reduction under an applicable tax treaty. If you are a Non-U.S. Holder, you should consult your tax adviser regarding the tax treatment

of the notes, including the possibility of obtaining a refund of any withholding tax and the certification requirement described above.

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.

In the event of any withholding on the notes, we will not be required to pay any additional amounts with respect to amounts so withheld.

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

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Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

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

pricing supplement.

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

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

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

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

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

time.

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

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

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

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

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

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

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

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

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

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 “How the Notes Work” and “Hypothetical Payout Examples” in this pricing supplement for an illustration of the risk-return

profile of the notes and “The MerQube US Large-Cap Vol Advantage Index” 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

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Auto Callable Contingent Interest Notes Linked to the MerQube US Large-

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

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

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

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

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

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

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

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

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

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

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

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

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

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

notes, the “Documents”) or such transactions solely because such law, rule or regulation is part of a regulatory regime applicable to any

party to any of the Documents or any of its affiliates due to the specific assets or business of such party or such affiliate or (ii) any law,

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

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

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

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, the accompanying

product supplement and the accompanying underlying 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. 5-I dated April 17, 2026:

http://www.sec.gov/Archives/edgar/data/19617/000121390026045223/ea0285802-19_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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