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

JPMorgan Chase Financial Company LLC Trigger GEARS

$9,022,930 Linked to an Unequally Weighted Basket of 5 Equity Indices due\nOctober 16, 2031

Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.

\n \n \n

Investment\n Description

Trigger GEARS (Growth Enhanced Asset Return Securities), which we\nrefer to as the “Securities,” are unsecured and unsubordinated debt securities issued by JPMorgan Chase Financial Company\nLLC (“JPMorgan Financial”), the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co.,\nwith a return linked to the performance of an unequally weighted basket (the “Basket”) of the EURO STOXX 50^®\nIndex, the Nikkei 225 Index, the FTSE^® 100 Index, the Swiss Market Index and the S&P/ASX 200 Index (each, an “Underlying”\nand together, the “Underlyings”). If the Basket Return is positive, JPMorgan Financial will repay your principal amount at\nmaturity plus pay a return equal to the Basket Return times the Upside Gearing of 1.78. If the Basket Return is zero or\nnegative but the Final Basket Value is greater than or equal to the Downside Threshold (75.00% of the Initial Basket Value), JPMorgan\nFinancial will repay your principal amount at maturity. However, if the Basket Return is negative and the Final Basket Value is less than\nthe Downside Threshold, JPMorgan Financial will repay less than your principal amount at maturity, if anything, resulting in a loss of\nprincipal that is proportionate to the negative Basket Return. In this case, you will have full downside exposure to the Basket from the\nInitial Basket Value to the Final Basket Value and could lose all of your principal amount. Investing in the Securities involves significant\nrisks. You may lose a significant portion or all of your principal amount. You will not receive dividends or other distributions paid\non any stocks included in any Underlying, and the Securities will not pay interest. The contingent repayment of principal applies only\nif you hold the Securities to maturity. Any payment on the Securities, including any repayment of principal, is subject to the creditworthiness\nof JPMorgan Financial, as issuer of the Securities, and the creditworthiness of JPMorgan Chase & Co., as guarantor of the\nSecurities. If JPMorgan Financial and JPMorgan Chase & Co. were to default on their payment obligations, you may not receive\nany amounts owed to you under the Securities and you could lose your entire investment.

\n \n \n

Features

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

Enhanced Growth Potential — At maturity, the Upside Gearing feature will provide leveraged exposure to any positive performance of the Basket. If the Basket Return is negative, investors may be exposed to the negative Basket Return at maturity.

Downside Exposure with Contingent Repayment of Principal at Maturity — If the Basket Return is zero or negative but the Final Basket Value is greater than or equal to the Downside Threshold, JPMorgan Financial will repay your principal amount at maturity. However, if the Basket Return is negative and the Final Basket Value is less than the Downside Threshold, JPMorgan Financial will repay less than your principal amount at maturity, if anything, resulting in a loss of principal that is proportionate to the Basket’s decline from the Initial Basket Value to the Final Basket Value. You may lose a significant portion or all of your principal amount. The contingent repayment of principal applies only if you hold the Securities to maturity. Any payment on the Securities, including any repayment of principal, is subject to the creditworthiness of JPMorgan Financial and JPMorgan Chase & Co.

\n \n \n

Key\n Dates

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

Trade Date	October 14, 2026
Original Issue Date (Settlement Date)	October 16, 2026
Final Valuation Date¹	October 14, 2031
Maturity Date¹	October 16, 2031
¹	Subject to postponement in the event of a market disruption event and as described under “General Terms of Notes — Postponement of a Determination Date — Notes Linked to Multiple Underlyings” and “General Terms of Notes — Postponement of a Payment Date” in the accompanying product supplement or early acceleration in the event of an acceleration event as described under “General Terms of Notes — Consequences of an Acceleration Event” in the accompanying product supplement and “Key Risks — Risks Relating to the Securities Generally — We May Accelerate Your Securities If an Acceleration Event Occurs” in this pricing supplement

THE SECURITIES ARE SIGNIFICANTLY RISKIER THAN CONVENTIONAL DEBT\nINSTRUMENTS. JPMORGAN FINANCIAL IS NOT NECESSARILY OBLIGATED TO REPAY THE FULL PRINCIPAL AMOUNT OF THE SECURITIES AT MATURITY, AND THE\nSECURITIES CAN HAVE DOWNSIDE MARKET RISK SIMILAR TO THE BASKET. THIS MARKET RISK IS IN ADDITION TO THE CREDIT RISK INHERENT IN PURCHASING\nA DEBT OBLIGATION OF JPMORGAN FINANCIAL FULLY AND UNCONDITIONALLY GUARANTEED BY JPMORGAN CHASE & CO. YOU SHOULD NOT PURCHASE\nTHE SECURITIES IF YOU DO NOT UNDERSTAND OR ARE NOT COMFORTABLE WITH THE SIGNIFICANT RISKS INVOLVED IN INVESTING IN THE SECURITIES.

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

\n \n \n

Security\n Offering

We are offering Trigger GEARS linked to an unequally weighted basket\nof 5 equity indices. The Securities are offered at a minimum investment of $1,000 in denominations of $10 and integral multiples thereof.

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

Underlyings	Basket \nWeight	Initial \nValue	Upside \nGearing	Initial \nBasket \nValue	Downside \nThreshold	CUSIP / \nISIN
EURO STOXX 50^® Index (Bloomberg ticker: SX5E)	40.00%	6,190.37	1.78	100	75, which is 75% of the Initial Basket Value	48135G697 / US48135G6970
Nikkei 225 Index (Bloomberg ticker: NKY)	25.00%	67,744.29
FTSE^® 100 Index (Bloomberg ticker: UKX)	17.50%	10,724.86
Swiss Market Index (Bloomberg ticker: SMI)	10.00%	14,129.93
S&P/ASX 200 Index (Bloomberg ticker: AS51)	7.50%	8,727.867

See “Additional Information about JPMorgan Financial, JPMorgan\nChase & Co. and the Securities” in this pricing supplement. The Securities will have the terms specified in the prospectus\nand the prospectus supplement, each dated April 17, 2026, product supplement no. 3-I dated April 17, 2026, underlying supplement no. 1-I\ndated April 17, 2026 and this pricing supplement. The terms of the Securities as set forth in this pricing supplement, to the extent\nthey differ or conflict with those set forth in the accompanying product supplement, will supersede the terms set forth in that product\nsupplement.

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

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

	Price to Public¹	Fees and Commissions²	Proceeds to Issuer
Offering of Securities	Total	Per Security	Total	Per Security	Total	Per Security
Securities Linked to an Unequally Weighted \nBasket of 5 Equity Indices	$9,022,930	$10.00	$315,802.55	$0.35	$8,707,127.45	$9.65

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

1	See “Supplemental Use of Proceeds” in this pricing supplement for information about the components of the price to public of the Securities.
2	UBS Financial Services Inc., which we refer to as UBS, will receive selling commissions from us of $0.35 per $10.00 principal amount Security. See “Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement, as supplemented by “Supplemental Plan of Distribution” in this pricing supplement.

The estimated value of the Securities, when the terms of the Securities\nwere set, was $9.512 per $10 principal amount Security. See “The Estimated Value of the Securities” in this pricing supplement\nfor additional information.

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

\n \n \n \n

UBS Financial Services Inc.

$\"\"$

\n \n \n

Additional\n Information about JPMorgan Financial, JPMorgan Chase & Co. and the Securities

You should read this pricing supplement together with the accompanying\nprospectus, as supplemented by the accompanying prospectus supplement relating to our Series A medium-term notes of which these Securities\nare a part, and the more detailed information contained in the accompanying product supplement and the accompanying underlying supplement.\nThis pricing supplement, together with the documents listed below, contains the terms of the Securities and supersedes all other prior\nor contemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms, correspondence,\ntrade ideas, structures for implementation, sample structures, fact sheets, brochures or other educational materials of ours. You should\ncarefully consider, among other things, the matters set forth in the “Risk Factors” sections of the accompanying prospectus\nsupplement and the accompanying product supplement, as the Securities involve risks not associated with conventional debt securities.

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

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

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

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

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

\n \n \n

Supplemental\n Terms of the Securities

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

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

Investor\nSuitability

\n \n \n \n \n

The Securities may be suitable for you if, among other
\nconsiderations:

t You\n fully understand the risks inherent in an investment in the Securities, including the risk of loss of your entire principal amount.

t You\n can tolerate a loss of all or a substantial portion of your investment and are willing to make an investment that may have the same downside\n market risk as a hypothetical investment in the Basket.

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

t You\n are willing to invest in the Securities based on the Upside Gearing indicated on the cover hereof.

t You\n can tolerate fluctuations in the price of the Securities prior to maturity that may be similar to or exceed the downside fluctuations\n in the level of the Basket.

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

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

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

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

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

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

t You\n do not fully understand the risks inherent in an investment in the Securities, including the risk of loss of your entire principal amount.

t You\n require an investment designed to provide a full return of principal at maturity.

t You\n cannot tolerate a loss of all or a substantial portion of your investment, or you are not willing to make an investment that may have\n the same downside market risk as a hypothetical investment in the Basket.

t You\n believe the level of the Basket will decline over the term of the Securities and is likely to close below the Downside Threshold on the\n Final Valuation Date.

t You\n are unwilling to invest in the Securities based on the Upside Gearing indicated on the cover hereof.

t You\n cannot tolerate fluctuations in the price of the Securities prior to maturity that may be similar to or exceed the downside fluctuations\n in the level of the Basket.

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

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

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

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

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

\n \n \n

Final\n Terms

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

Issuer:		JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor:		JPMorgan Chase & Co.
Issue Price:		$10.00 per Security (subject to a minimum purchase of 100 Securities or $1,000)
Principal Amount:		$10.00 per Security. The payment at maturity will be based on the principal amount.
Basket:		The Securities are linked to an unequally weighted basket (the “Basket”) of the EURO STOXX 50^® Index, the Nikkei 225 Index, the FTSE^® 100 Index, the Swiss Market Index and the S&P/ASX 200 Index (each, an “Underlying” and together, the “Underlyings”). The Underlyings, along with their respective weightings (each, a “Basket Weight”), are set forth below.

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

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

\n \n \n

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

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

Term:		Approximately 5 years
Payment at Maturity (per $10 principal amount Security):		\n If the Basket Return is positive, JPMorgan\n Financial will pay you a cash payment at maturity per $10 principal amount Security equal to: \n $10 + ($10 × Basket Return × Upside\n Gearing) \n If the Basket Return is zero or negative but the Final Basket Value\n is greater than or equal to the Downside Threshold, JPMorgan Financial will\n pay you a cash payment at maturity of $10 per $10 principal amount Security. \n If the Basket Return is negative, and the Final Basket Value is\n less than the Downside Threshold, JPMorgan Financial will pay you a cash payment\n at maturity per $10 principal amount Security equal to: \n $10 + ($10 × Basket Return) \n In this scenario, you will be exposed to the decline in the level\n of the Basket and you will lose a significant portion or all of your principal amount in an amount proportionate to the negative Basket\n Return.
Basket Return:		\n (Final Basket Value – Initial Basket Value) \n Initial Basket Value
Upside Gearing:		1.78
Initial Basket Value:		Set equal to 100 on the Trade Date
Final Basket Value:		The closing level of the Basket on the Final Valuation Date
Closing Level of the Basket¹:		The closing level of the Basket on any day will be calculated as follows: \n100 × [1 + sum of (Underlying Return of each Underlying × Basket Weight of that Underlying)]
Initial Value:		With respect to each Underlying, the closing level of that Underlying on the Trade Date, as specified on the cover of this pricing supplement
Final Value:		With respect to each Underlying, the closing level of that Underlying on the Final Valuation Date
Underlying Return:		\n With respect to each Underlying, \n (Final Value – Initial Value) \n Initial Value
Downside Threshold:		75.00% of the Initial Basket Value, as specified on the cover of this pricing supplement

\n \n \n \n

¹ Rounded to two decimal places

\n \n \n

Investment\n Timeline

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


Trade Date		The closing level of each Underlying is observed, the Initial Basket Value is set equal to 100, the Downside Threshold is determined and the Upside Gearing is finalized.
$\"\"$

\n \n \n \n \n

Maturity Date

The Final Value of each Underlying, the Final Basket Value and the\n Basket Return are determined.

If the Basket Return is positive, JPMorgan\n Financial will pay you a cash payment at maturity per $10 principal amount Security equal to:

$10 + ($10 × Basket Return ×
\n Upside Gearing)

If the Basket Return is zero or negative but the Final Basket Value\n is greater than or equal to the Downside Threshold, JPMorgan Financial will\n pay you a cash payment at maturity of $10 per $10 principal amount Security.

If the Basket Return is negative and the Final Basket Value is less\n than the Downside Threshold, JPMorgan Financial will pay you a cash payment\n at maturity per $10 principal amount Security equal to:

$10 + ($10 × Basket Return)

Under these circumstances, you will be exposed to the decline in\n the level of the Basket and you will lose a significant portion or all of your principal amount.

INVESTING IN THE SECURITIES INVOLVES SIGNIFICANT RISKS. YOU MAY LOSE A\nSIGNIFICANT PORTION OR ALL OF YOUR PRINCIPAL AMOUNT. ANY PAYMENT ON THE SECURITIES, INCLUDING ANY REPAYMENT OF PRINCIPAL, IS SUBJECT TO\nTHE CREDITWORTHINESS OF JPMORGAN FINANCIAL AND JPMORGAN CHASE & CO. IF JPMORGAN FINANCIAL AND JPMORGAN CHASE & CO.\nWERE TO DEFAULT ON THEIR PAYMENT OBLIGATIONS, YOU MAY NOT RECEIVE ANY AMOUNTS OWED TO YOU UNDER THE SECURITIES AND YOU COULD LOSE YOUR\nENTIRE INVESTMENT.

\n \n \n

What\n Are the Tax Consequences of the Securities?

You should review carefully the section entitled “United States\nFederal Taxation” in the accompanying prospectus supplement. The following discussion, when read in combination with that section,\nconstitutes the full opinion of our special tax counsel, Davis Polk & Wardwell LLP, regarding the material U.S. federal income tax\nconsequences of owning and disposing of Securities.

Based on current market conditions, in the opinion of our special tax\ncounsel it is reasonable to treat the Securities as “open transactions” that are not debt instruments for U.S. federal income\ntax purposes, as more fully described in “United States Federal Taxation — Tax Consequences to U.S. Holders — Program\nSecurities Treated as Prepaid Financial Contracts That are Open Transactions” in the accompanying prospectus supplement. Assuming\nthis treatment is respected, the gain or loss on your Securities should be treated as long-term capital gain or loss if you hold your\nSecurities for more than a year, whether or not you are an initial purchaser of Securities at the issue price. However, the IRS or a court\nmay not respect this treatment, in which case the timing and character of any income or loss on the Securities could be materially and\nadversely affected. In addition, in 2007 Treasury and the IRS released a notice requesting comments on the U.S. federal income tax treatment\nof “prepaid forward contracts” and similar instruments. The notice focuses in particular on whether to require investors in\nthese instruments to accrue income over the term of their investment. It also asks for comments on a number of related topics, including\nthe character of income or loss with respect to these instruments; the relevance of factors such as the nature of the underlying property\nto which the instruments are linked; the degree, if any, to which income (including any mandated accruals) realized by non-U.S. investors\nshould be subject to withholding tax; and whether these instruments are or should be subject to the “constructive ownership”\nregime, which very generally can operate to recharacterize certain long-term capital gain as ordinary income and impose a notional interest\ncharge. While the notice requests comments on appropriate transition rules and effective dates, any Treasury regulations or other guidance\npromulgated after consideration of these issues could materially and adversely affect the tax consequences of an investment in the Securities,\npossibly with retroactive effect. You should consult your tax adviser regarding the U.S. federal income tax consequences of an investment\nin the Securities, including possible alternative treatments and the issues presented by this notice.

Section 871(m) of the Code and Treasury regulations promulgated thereunder\n(“Section 871(m)”) generally impose a 30% withholding tax (unless an income tax treaty applies) on dividend equivalents paid\nor deemed paid to Non-U.S. Holders with respect to certain financial instruments linked to U.S. equities or indices that include U.S.\nequities. Section 871(m) provides certain exceptions to this withholding regime, including for instruments linked to certain broad-based\nindices that meet requirements set forth in the applicable Treasury regulations. Additionally, a recent IRS notice excludes from the scope\nof Section 871(m) instruments issued prior to January 1, 2029 that do not have a delta of one with respect to underlying securities that\ncould pay U.S.-source dividends for U.S. federal income tax purposes (each an “Underlying Security”). Based on certain determinations\nmade by us, our special tax counsel is of the opinion that Section 871(m) should not apply to the Securities with regard to Non-U.S. Holders.\nOur determination is not binding on the IRS, and the IRS may disagree with this determination. Section 871(m) is complex and its application\nmay depend on your particular circumstances, including whether you enter into other transactions with respect to an Underlying Security.\nYou should consult your tax adviser regarding the potential application of Section 871(m) to the Securities.

\n \n \n

Key\n Risks

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

Risks Relating to the Securities Generally

Your Investment in the Securities May Result in a Loss — The Securities differ from ordinary debt securities in that\nwe will not necessarily repay the full principal amount of the Securities. If the Basket Return is negative, we will pay you the principal\namount of your Securities in cash only if the Final Basket Value has not declined below the Downside Threshold. If the Basket Return is\nnegative and the Final Basket Value is less than the Downside Threshold, you will be exposed to the full decline in the level of the Basket\nand will lose a significant portion or all of your principal amount in an amount proportionate to the negative Basket Return. Accordingly,\nyou could lose up to your entire principal amount.

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

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

We May Accelerate Your Securities If an Acceleration Event Occurs — Upon the announcement or occurrence of an acceleration\nevent, we may, in our sole and absolute discretion, accelerate the payment on your Securities and pay you an amount determined by the\ncalculation agent in good faith and in a commercially reasonable manner by reference to the values of any fixed-income debt component\nand any derivatives underlying the economic terms of the Securities as of the date of the notice of acceleration. An acceleration event\nmeans there is an announcement or occurrence of legal or regulatory changes that the calculation agent determines are likely to interfere\nwith your or our ability to transact in or hold the Securities or our ability to hedge or perform our obligations under the Securities.\nIf the payment on your Securities is accelerated, your investment may result in a loss, and you may not be able to reinvest your money\nin a comparable investment. Please see “General Terms of Notes — Consequences of a Change-in-Law Event” in the accompanying\nproduct supplement for more information.

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

The Contingent Repayment of Principal Applies Only If You Hold the Securities to Maturity —\nYou should be willing to hold your Securities to maturity. If you are able to sell your Securities in the secondary market, if any, prior\nto maturity, you may have to sell them at a loss relative to your initial investment even if the closing level of the Basket is above\nthe Downside Threshold. If you hold the Securities to maturity, JPMorgan Financial will repay your principal amount as long as the Final\nBasket Value is not below the Downside Threshold. However, if the Basket Return is negative and the Final Basket Value is less than the\nDownside Threshold, JPMorgan Financial will repay less than your principal amount, if anything, resulting in a loss that is proportionate\nto the decline in the level of the Basket from the Initial Basket Value to the Final Basket Value. The contingent repayment of principal\nbased on whether the Final Basket Value is below the Downside Threshold applies only if you hold your Securities to maturity.

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

The Probability That the Final Basket Value Will Fall Below the Downside Threshold on the Final Valuation Date Will Depend on the\nVolatility of the Basket — “Volatility” refers to the frequency and magnitude of changes in the level of the Basket.

Greater expected volatility with respect to the Basket reflects a higher expectation as\nof the Trade Date that the Basket could close below the Downside Threshold on the Final Valuation Date, resulting in the loss of a significant\nportion or all of your investment. However, the Basket’s volatility\ncan change significantly over the term of the Securities. The level of the Basket could fall sharply, which could result in a significant\nloss of principal.

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

Investing in the Securities Is Not Equivalent to Investing in the Stocks Composing the Underlyings — Investing in the\nSecurities is not equivalent to investing in the stocks included in the Underlyings. As an investor in the Securities, you will not have\nany ownership interest or rights in the stocks included in the Underlyings, such as voting rights, dividend payments or other distributions.

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

Your Return on the Securities Will Not Reflect Dividends on the Stocks Composing the Underlyings — Your return on the\nSecurities will not reflect the return you would realize if you actually owned the stocks included in the Underlyings and received the\ndividends on the stocks included in the Underlyings. This is because the calculation agent will calculate the amount payable to you at\nmaturity of the Securities by reference to the Final Basket Value, which is based on the closing level of each Underlying on the Final\nValuation Date, without taking into consideration the value of dividends on the stocks included in that Underlying.

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

Tax Treatment — Significant aspects of the tax treatment of the Securities are uncertain. You should consult your tax\nadviser about your tax situation.

Risks Relating to Conflicts of Interest

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

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

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

Risks Relating to the Estimated Value and Secondary\nMarket Prices of the Securities

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

\n\n

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

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

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

Secondary Market Prices of the Securities Will Likely Be Lower Than the Original Issue Price of the Securities — Any\nsecondary market prices of the Securities will likely be lower than the original issue price of the Securities because, among other things,\nsecondary market prices take into account our internal secondary market funding rates for structured debt issuances and, also, because\nsecondary market prices may exclude selling commissions, projected hedging profits, if any, estimated hedging costs and fees, if any,\npaid for third-party data analytics and/or electronic platform services that are included in the original issue price of the Securities.\nAs a result, the price, if any, at which JPMS will be willing to buy Securities from you in secondary market transactions, if at all,\nis likely to be lower than the original issue price. Furthermore, if you sell your Securities, you will likely be charged a commission\nfor secondary market transactions, or the price will likely reflect a dealer discount and/or fees for use of an electronic platform to\nfacilitate secondary market activity. Any sale by you prior to the Maturity Date could result in a substantial loss to you. See the immediately\nfollowing risk factor for information about additional factors that will impact any secondary market prices of the Securities.

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

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

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

customary bid-ask spreads for similarly sized trades;

our internal secondary market funding rates for structured debt issuances;

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

the time to maturity of the Securities;

the dividend rates on the equity securities underlying the Underlyings;

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

interest and yield rates in the market generally;

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

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

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

Risks Relating to the Underlyings

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

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

Historical Performance of the Basket Should Not\nBe Taken as an Indication of the Future Performance of the Basket During the Term of the Securities — The\nactual performance of the Basket over the term of the Securities may bear little relation to the historical performance of the Basket.\nThe future performance of the Basket may differ significantly from its historical performance. It is impossible to predict whether the\nlevel of the Basket will rise or fall. We cannot give you assurance that the performance of the Basket will not adversely affect any payment\non the Securities.

\n \n \n

Hypothetical\n Examples and Return Table

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

The following table and hypothetical examples below illustrate the\npayment at maturity per $10 principal amount Security for a hypothetical range of Basket Returns from -100.00% to +50.00% on an offering\nof the Securities linked to a hypothetical Basket, reflect the Initial Basket Value of 100 and assume a hypothetical Downside Threshold\nof 90 and a hypothetical Upside Gearing of 1.20. For historical data regarding the actual closing levels of the Underlyings, please see\nthe historical information set forth under “The Underlyings” in this pricing supplement. The actual Downside Threshold and\nUpside Gearing are specified on the cover of this pricing supplement. The hypothetical payment at maturity examples set forth below are\nfor illustrative purposes only and may not be the actual returns applicable to a purchaser of the Securities. The actual payment at maturity\nmay be more or less than the amounts displayed below and will be determined based on the actual terms of the Securities, including the\nDownside Threshold, the Upside Gearing and the Final Basket Value on the Final Valuation Date. You should consider carefully whether the\nSecurities are suitable to your investment goals. The numbers appearing in the table below have been rounded for ease of analysis.

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

Final Basket Value	Basket Return (%)	Payment at Maturity ($)	Return at Maturity per \n$10 issue price (%)
150.00	50.00%	$16.000	60.00%
140.00	40.00%	$14.800	48.00%
130.00	30.00%	$13.600	36.00%
120.00	20.00%	$12.400	24.00%
110.00	10.00%	$11.200	12.00%
105.00	5.00%	$10.600	6.00%
102.00	2.00%	$10.240	2.40%
100.00	0.00%	$10.000	0.00%
95.00	-5.00%	$10.000	0.00%
90.00	-10.00%	$10.000	0.00%
89.99	-10.01%	$8.999	-10.01%
80.00	-20.00%	$8.000	-20.00%
70.00	-30.00%	$7.000	-30.00%
60.00	-40.00%	$6.000	-40.00%
50.00	-50.00%	$5.000	-50.00%
40.00	-60.00%	$4.000	-60.00%
30.00	-70.00%	$3.000	-70.00%
20.00	-80.00%	$2.000	-80.00%
10.00	-90.00%	$1.000	-90.00%
0.00	-100.00%	$0.000	-100.00%

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

Because the Basket Return is 10%, at maturity, JPMorgan Financial\nwill pay you your principal amount plus a return equal to 12.00%, resulting in a payment at maturity of $11.20 per $10 principal\namount Security, calculated as follows:

$10.00 + ($10.00 × Basket Return ×\nUpside Gearing)

$10.00 + ($10.00 × 10.00% × 1.20) =\n$11.20

Example 2 — The level of the Basket decreases by 5% from the\nInitial Basket Value of 100 to the Final Basket Value of 95.

Because the Basket Return is negative and the Final Basket Value is\ngreater than the Downside Threshold, at maturity, JPMorgan Financial will pay you your principal amount of $10 per $10 principal amount\nSecurity.

Example 3 — The level of the Basket decreases by 40% from\nthe Initial Basket Value of 100 to the Final Basket Value of 60.

Because the Basket Return is -40% and the Final Basket Value is less\nthan the Downside Threshold of 90, at maturity, JPMorgan Financial will pay you a payment at maturity of $6.00 per $10 principal amount\nSecurity, calculated as follows:

$10 + ($10 × Basket Return)
\n$10 + ($10 × -40.00%) = $6.00

If the Basket Return is negative and the Final Basket Value is\nless than the Downside Threshold, investors will be exposed to the negative Basket Return at maturity, resulting in a loss of principal\nthat is proportionate to the Basket’s decline from the Initial Basket Value to the Final Basket Value. Investors could lose a significant\nportion or all of their principal amount.

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

\n \n \n

Hypothetical\n Examples of Calculations of the Closing Levels of the Basket

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

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

Underlyings	Index Weight	Initial Value
EURO STOXX 50^® Index	40.00%	100.00*
Nikkei 225 Index	25.00%	100.00*
FTSE^® 100 Index	17.50%	100.00*
Swiss Market Index	10.00%	100.00*
S&P/ASX 200 Index	7.50%	100.00*
*The actual Initial Value for each Underlying is specified on the cover of this pricing supplement. The hypothetical Initial Value for each Underlying of 100.00 has been chosen for illustrative purposes only and does not represent the actual Initial Value for any Underlying. For historical data regarding the actual closing levels of each Underlying, please see the historical information set forth under “The EURO STOXX 50^® Index,” “The Nikkei 225 Index,” “The FTSE^® 100 Index,” “The Swiss Market Index” and “The S&P/ASX 200 Index” in this pricing supplement.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

\n \n \n

The\n Basket

The following graph shows the daily hypothetical performance\nof the Basket from January 4, 2016 through October 14, 2026, assuming that the closing level of the Basket on January 4, 2016 was 100\nand that the Underlyings on those dates were weighted as specified in the “Final Terms” in this pricing supplement. The dotted\nline represents a hypothetical Downside Threshold of 172.19, equal to 75% of the hypothetical closing level of the Basket on October 14,\n2026. The hypothetical historical daily Basket performance data in this graph was determined using the closing levels of each Underlying\nreported by the Bloomberg Professional^® service (“Bloomberg”) for those dates, without independent verification.\nThe hypothetical historical performance of the Basket displayed below is a reflection of the aggregated historical performance of the\nUnderlyings as described above.

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

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\n \n \n

The\n Underlyings

Included on the following pages is a brief description of the Underlyings.\nThis information has been obtained from publicly available sources, without independent verification. We obtained the closing levels information\nset forth below from Bloomberg, without independent verification. You should not take the historical performance of any Underlying as\nan indication of future performance.

\n \n \n

The\n EURO STOXX 50^® Index

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

Historical Information Regarding the EURO STOXX 50^®\nIndex

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

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

$\"\"$

\n \n \n

The\n Nikkei 225 Index

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

Historical\nInformation Regarding the Nikkei 225 Index

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

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

$\"\"$

\n \n \n

The\n FTSE^® 100 Index

The FTSE^® 100 Index measures the composite price performance\nof stocks of the 100 largest U.K. companies (determined on the basis of market capitalization) traded on the London Stock Exchange. For\nadditional information about the FTSE^® 100 Index, see “Equity Index Descriptions — The FTSE^®\n100 Index” in the accompanying underlying supplement.

Historical Information Regarding the FTSE^® 100 Index

The graph below illustrates the daily performance of the FTSE^®\n100 Index from January 4, 2016 through October 14, 2026, based on information from Bloomberg, without independent verification. The closing\nlevel of the FTSE^® 100 Index on October 14, 2026 was 10,724.86. We obtained the closing levels of the FTSE^®\n100 Index above and below from Bloomberg, without independent verification.

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

$\"\"$

\n \n \n

The\n Swiss Market Index

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

Historical\nInformation Regarding the Swiss Market Index

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

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

$\"\"$

\n \n \n

The\n S&P/ASX 200 Index

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

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

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

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

$\"\"$

\n \n \n

Supplemental\n Plan of Distribution

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

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

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

\n \n \n

The\n Estimated Value of the Securities

The estimated value of the Securities set forth on the cover of this\npricing supplement is equal to the sum of the values of the following hypothetical components: (1) a fixed-income debt component with\nthe same maturity as the Securities, valued using the internal funding rate described below, and (2) the derivative or derivatives underlying\nthe economic terms of the Securities. The estimated value of the Securities does not represent a minimum price at which JPMS would be\nwilling to buy your Securities in any secondary market (if any exists) at any time. The internal funding rate used in the determination\nof the estimated value of the Securities may differ from the market-implied funding rate for vanilla fixed income instruments of a similar\nmaturity issued by JPMorgan Chase & Co. or its affiliates. Any difference may be based on, among other things, our and\nour affiliates’ view of the funding values of the Securities as well as the higher issuance, operational and ongoing liability\nmanagement costs of the Securities in comparison to those costs for the conventional fixed income instruments of JPMorgan Chase & Co.\nThis internal funding rate is based on certain market inputs and assumptions, which may prove to be incorrect, and is intended to approximate\nthe prevailing market replacement funding rate for the Securities. The use of an internal funding rate and any potential changes to that\nrate may have an adverse effect on the terms of the Securities and any secondary market prices of

the Securities. For additional information,\nsee “Key Risks — Risks Relating to the Estimated Value and Secondary Market Prices of\nthe Securities — The Estimated Value of the Securities Is Derived by Reference to an Internal Funding Rate” in this pricing\nsupplement. The value of the derivative or derivatives underlying the economic terms\nof the Securities is derived from internal pricing models of our affiliates. These models are dependent on inputs such as the traded market\nprices of comparable derivative instruments and on various other inputs, some of which are market-observable, and which can include volatility,\ndividend rates, interest rates and other factors, as well as assumptions about future market events and/or environments. Accordingly,\nthe estimated value of the Securities is determined when the terms of the Securities are set based on market conditions and other relevant\nfactors and assumptions existing at that time. See “Key Risks — Risks Relating to the Estimated Value and Secondary Market\nPrices of the Securities — The Estimated Value of the Securities Does Not Represent Future Values of the Securities and May Differ\nfrom Others’ Estimates” in this pricing supplement.

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

\n \n \n

Secondary\n Market Prices of the Securities

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

\n \n \n

Supplemental\n Use of Proceeds

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

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

\n \n \n

Validity\n of the Securities and the Guarantee

In the opinion of Davis Polk & Wardwell LLP, as special products\ncounsel to JPMorgan Financial and JPMorgan Chase & Co., when the Securities offered by this pricing supplement have been\nissued by JPMorgan Financial pursuant to the indenture, the trustee and/or paying agent has made, in accordance with the instructions\nfrom JPMorgan Financial, the appropriate entries or notations in its records relating to the master global note that represents such Securities\n(the “master note”), and such Securities have been delivered against payment as contemplated herein, such Securities will\nbe valid and binding obligations of JPMorgan Financial and the related guarantee will constitute a valid and binding obligation of JPMorgan\nChase & Co., enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting\ncreditors’ rights generally, concepts of reasonableness and equitable principles of general applicability (including, without limitation,\nconcepts of good faith, fair dealing and the lack of bad faith), provided that such counsel expresses no opinion as to (x)(i) the\neffect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (ii)\nany provision of the indenture that purports to avoid the effect of fraudulent conveyance, fraudulent transfer or similar provision of\napplicable law by limiting the amount of JPMorgan Chase & Co.’s obligation under the related guarantee or (y) the\nvalidity, legally binding effect or enforceability of any provision that permits holders to collect any portion of the stated principal\namount upon acceleration of the Securities to the extent determined to constitute unearned interest. This opinion is given as of the date\nhereof 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\nLiability Company Act, except that such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable to JPMorgan\nFinancial or JPMorgan Chase & Co., the indenture, the Securities, the related guarantee (together with the indenture and\nthe Securities, the “Documents”) or such transactions solely because such law, rule or regulation is part of a regulatory\nregime 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\nsuch affiliate or (ii) any law, rule or regulation relating to national security. In addition, this opinion is subject to customary assumptions\nabout the trustee’s authorization, execution and

delivery of the indenture and its authentication of the master note and the validity,\nbinding nature and enforceability of the indenture with respect to the trustee, all as stated in the letter of such counsel dated February\n24, 2026, which was filed as an exhibit to the Registration Statement on Form S-3 by JPMorgan Financial and JPMorgan Chase & Co.\non February 24, 2026.

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