# EDGAR Filing Document

**Accession Number:** 0001665650
**File Stem:** 0001213900-26-070103
**Filing Date:** 2026-6
**Character Count:** 77492
**Document Hash:** afc71a6b668a6167daef7f4bdd39a3be
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-070103.hdr.sgml**: 20260618

**ACCESSION NUMBER**: 0001213900-26-070103

**CONFORMED SUBMISSION TYPE**: 424B2

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20260618

**DATE AS OF CHANGE**: 20260618

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMORGAN CHASE & CO
- **CENTRAL INDEX KEY:** 0000019617
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 132624428
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293684
- **FILM NUMBER:** 261102545

**BUSINESS ADDRESS:**
- **STREET 1:** 270 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 2122706000

**MAIL ADDRESS:**
- **STREET 1:** 270 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** J P MORGAN CHASE & CO
- **DATE OF NAME CHANGE:** 20010102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHASE MANHATTAN CORP /DE/
- **DATE OF NAME CHANGE:** 19960402

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CHEMICAL BANKING CORP
- **DATE OF NAME CHANGE:** 19920703
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JPMorgan Chase Financial Co. LLC
- **CENTRAL INDEX KEY:** 0001665650
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 475462128
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-293684-01
- **FILM NUMBER:** 261102546

**BUSINESS ADDRESS:**
- **STREET 1:** 383 MADISON AVENUE
- **STREET 2:** FLOOR 21
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10179
- **BUSINESS PHONE:** (212) 270-6000

**MAIL ADDRESS:**
- **STREET 1:** 383 MADISON AVENUE
- **STREET 2:** FLOOR 21
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10179

---

| | |
|:---|:---|
| **JPMorgan Chase Financial Company LLC** | **June 2026** |

---

Pricing Supplement

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

Dated June 16, 2026

Filed pursuant to Rule 424(b)(2)

Structured Investments

Opportunities in U.S. and International Equities

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

**Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.**

The Market-Linked Notes, which we refer to as the notes, will pay no interest. At maturity, if the basket has appreciated in value, investors will receive the stated principal amount of their investment *plus* 102.15% of the appreciation of the basket from the initial basket value to the final basket value. However, if the final basket value is less than or equal to the initial basket value, at maturity investors will receive only the stated principal amount and will receive no supplemental redemption amount. The notes are for investors who are concerned about principal risk, but seek an equity-based return, and who are willing to forgo current income in exchange for repayment of the principal at maturity and the opportunity to earn a return reflecting 102.15% of the appreciation of the basket from the initial basket value to the final basket value. At maturity, an investor will receive an amount in cash that may be greater than or equal to the stated principal amount based upon the basket closing value on the valuation date**.** 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., issued as part of JPMorgan Financial's Medium-Term Notes, Series A, program. **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.** 

&nbsp;&nbsp;**FINAL TERMS**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Issuer:** | JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co. |
| &nbsp;&nbsp;**Guarantor:** | JPMorgan Chase & Co. |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Basket:** | <u>Underlying indices</u> | <u>Bloomberg ticker symbol</u> | <u>Basket weighting</u> |
| &nbsp;&nbsp;**Basket:** | S&P 500<sup>®</sup> Index (the "SPX Index") | &nbsp;&nbsp;SPX | &nbsp;&nbsp;1/3 |
| &nbsp;&nbsp;**Basket:** | EURO STOXX 50<sup>®</sup> Index (the "SX5E Index") | &nbsp;&nbsp;SX5E | &nbsp;&nbsp;1/3 |
| &nbsp;&nbsp;**Basket:** | TOPIX<sup>®</sup> Index (the "TPX Index") | &nbsp;&nbsp;TPX | &nbsp;&nbsp;1/3 |

---

&nbsp;&nbsp;We refer to the SPX Index, the SX5E Index and the TPX Index as the underlying indices.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Aggregate principal amount:** | $6618000 | $6618000 | $6618000 |
| &nbsp;&nbsp;**Payment at maturity:** | If the final basket value is *greater than* the initial basket value, for each $1,000 stated principal amount note, | If the final basket value is *greater than* the initial basket value, for each $1,000 stated principal amount note, | If the final basket value is *greater than* the initial basket value, for each $1,000 stated principal amount note, |
|  | &nbsp;&nbsp;&nbsp;&nbsp;$1,000 + supplemental redemption amount | &nbsp;&nbsp;&nbsp;&nbsp;$1,000 + supplemental redemption amount | &nbsp;&nbsp;&nbsp;&nbsp;$1,000 + supplemental redemption amount |
|  | If the final basket value is *less than or equal to* the initial basket value, for each $1,000 stated principal amount note, | If the final basket value is *less than or equal to* the initial basket value, for each $1,000 stated principal amount note, | If the final basket value is *less than or equal to* the initial basket value, for each $1,000 stated principal amount note, |
|  | &nbsp;&nbsp;&nbsp;&nbsp;$1000 | &nbsp;&nbsp;&nbsp;&nbsp;$1000 | &nbsp;&nbsp;&nbsp;&nbsp;$1000 |
|  | *In no event will the payment at maturity be less than the stated principal amount of $1,000 per note. You are entitled to repayment of principal in full at maturity, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co.* | *In no event will the payment at maturity be less than the stated principal amount of $1,000 per note. You are entitled to repayment of principal in full at maturity, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co.* | *In no event will the payment at maturity be less than the stated principal amount of $1,000 per note. You are entitled to repayment of principal in full at maturity, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co.* |
| &nbsp;&nbsp;**Supplemental redemption amount:** | $1,000 × participation rate × basket percent increase, *provided that* the supplemental redemption amount will not be less than $0 | $1,000 × participation rate × basket percent increase, *provided that* the supplemental redemption amount will not be less than $0 | $1,000 × participation rate × basket percent increase, *provided that* the supplemental redemption amount will not be less than $0 |
| &nbsp;&nbsp;**Basket percent increase:** | (final basket value – initial basket value) / initial basket value | (final basket value – initial basket value) / initial basket value | (final basket value – initial basket value) / initial basket value |
| &nbsp;&nbsp;**Participation rate:** | 102.15% | 102.15% | 102.15% |
| &nbsp;&nbsp;**Initial basket value:** | Set equal to 100 on the pricing date | Set equal to 100 on the pricing date | Set equal to 100 on the pricing date |
| &nbsp;&nbsp;**Final basket value:** | The basket closing value on the valuation date | The basket closing value on the valuation date | The basket closing value on the valuation date |
| &nbsp;&nbsp;**Basket closing value:** | The basket closing value on the valuation date will be calculated as follows:<br> 100 × [1 + sum of (index return of each underlying index × basket weighting of that underlying index)] | The basket closing value on the valuation date will be calculated as follows:<br> 100 × [1 + sum of (index return of each underlying index × basket weighting of that underlying index)] | The basket closing value on the valuation date will be calculated as follows:<br> 100 × [1 + sum of (index return of each underlying index × basket weighting of that underlying index)] |
| &nbsp;&nbsp;**Stated principal amount:** | $1,000 per note | $1,000 per note | $1,000 per note |
| &nbsp;&nbsp;**Issue price:** | $1,000 per note (see "Commissions and issue price" below) | $1,000 per note (see "Commissions and issue price" below) | $1,000 per note (see "Commissions and issue price" below) |
| &nbsp;&nbsp;**Pricing date:** | June 16, 2026 | June 16, 2026 | June 16, 2026 |
| &nbsp;&nbsp;**Original issue date (settlement date):** | June 22, 2026 | June 22, 2026 | June 22, 2026 |
| &nbsp;&nbsp;**Valuation date\*:** | June 30, 2032 | June 30, 2032 | June 30, 2032 |
| &nbsp;&nbsp;**Maturity date\*:** | July 6, 2032 | July 6, 2032 | July 6, 2032 |
| &nbsp;&nbsp;**Agent:** | J.P. Morgan Securities LLC ("JPMS") | J.P. Morgan Securities LLC ("JPMS") | J.P. Morgan Securities LLC ("JPMS") |
|  | ***Terms continued on the following page*** | ***Terms continued on the following page*** | ***Terms continued on the following page*** |
| &nbsp;&nbsp;**Commissions and issue price:** | **Price to public<sup>(1)</sup>** | **Fees and commissions** | **Proceeds to issuer** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Per note** | $1000.00 | $30.00**<sup>(2)</sup>** | $965.00 |
|  |  | $5.00<sup>(**3)**</sup> |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total** | $6618000.00 | $231630.00 | $6386370.00 |

---

*(1)* *See "Additional Information About the Notes — Supplemental use of proceeds and hedging" in this document for information about the components of the price to public of the notes.* 

*(2)* *JPMS, acting as agent for JPMorgan Financial, will pay all of the selling commissions of $30.00 per $1,000 stated principal amount note it receives from us to Morgan Stanley Smith Barney LLC ("Morgan Stanley Wealth Management"). See "Plan of Distribution (Conflicts of Interest)" in the accompanying product supplement.* 

*(3)* *Reflects a structuring fee payable to Morgan Stanley Wealth Management by the agent or its affiliates of $5.00 for each $1,000 stated principal amount note.* 

\* 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 "Risk Factors — Risks Relating to the Notes Generally — We may accelerate your notes in our sole discretion and the calculation agent may adjust their final payment in good faith and in a commercially reasonable manner if an acceleration event occurs" in this pricing supplement

**The estimated value of the notes on the pricing date was $948.70 per $1,000 stated principal amount note. See "Additional Information About the Notes — The estimated value of the notes" in this document for additional information.**

**Investing in the notes involves a number of risks. See "Risk Factors" beginning on page S-2 of the accompanying prospectus supplement, "Risk Factors" beginning on page PS-12 of the accompanying product supplement and "Risk Factors" beginning on page 9 of this document.** 

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 document or the accompanying product supplement, underlying supplement, prospectus supplement and prospectus. Any representation to the contrary is a criminal offense.

*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.*

**You should read this document together with the related product supplement, underlying supplement, prospectus supplement and prospectus, each of which can be accessed via the hyperlinks below. Please also see "Additional Information About the Notes" at the end of this document.**

Product supplement no. 3-I dated April 17, 2026: [http://www.sec.gov/Archives/edgar/data/19617/000121390026045198/ea0285802-20_424b2.pdf](http://www.sec.gov/Archives/edgar/data/19617/000121390026045198/ea0285802-20_424b2.pdf)

Underlying supplement no. 1-I dated April 17, 2026: [http://www.sec.gov/Archives/edgar/data/19617/000121390026045209/ea0285802-11_424b2.pdf](http://www.sec.gov/Archives/edgar/data/19617/000121390026045209/ea0285802-11_424b2.pdf)

Prospectus supplement and prospectus, each dated April 17, 2026: [http://www.sec.gov/Archives/edgar/data/19617/000095010326005889/crt_dp245141-424b2.pdf](http://www.sec.gov/Archives/edgar/data/19617/000095010326005889/crt_dp245141-424b2.pdf)

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

---

| | |
|:---|:---|
| &nbsp;&nbsp;***Terms continued from previous page:*** | &nbsp;&nbsp;***Terms continued from previous page:*** |
| &nbsp;&nbsp;**Index return:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; With respect to each underlying index:<br> <u>(final index value – initial index value)</u><br> initial index value |
| &nbsp;&nbsp;**Initial index value:** | With respect to each underlying index, the closing level of that underlying index on the pricing date, which was 7,511.35 for the SPX Index, 6,257.42 for the SX5E Index and 3,991.14 for the TPX Index |
| &nbsp;&nbsp;**Final index value:** | With respect to each underlying index, the closing level of that underlying index on the valuation date |
| &nbsp;&nbsp;**CUSIP / ISIN:** | 46661AGM6 / US46661AGM62 |
| &nbsp;&nbsp;**Listing:** | The notes will not be listed on any securities exchange. |

---

June 2026 Page 2

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

Investment Summary

**Market-Linked Notes**

The Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032 (the "notes") provide investors with an opportunity to receive a return reflecting 102.15% of the positive performance of the basket.

If the final basket value is **greater than** the initial basket value, for each $1,000 stated principal amount note, the notes will pay the stated principal amount of $1,000 *plus* a supplemental redemption amount. The supplemental redemption amount provides 102.15% upside participation (*e.g.*, if the basket appreciates 10% from the initial basket value to the final basket value, the investor receives 100% of principal *plus* 10.215% at maturity) in the performance of the basket. If the final basket value is **equal to or less than** the initial basket value, the payment at maturity per note will be equal to the stated principal amount of notes of $1,000. The notes do not pay interest, and all payments on the notes, including the repayment of principal at maturity, are subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Maturity:** | &nbsp;&nbsp;Approximately 72.5 months |
| &nbsp;&nbsp;**Participation rate:** | &nbsp;&nbsp;102.15% |
| &nbsp;&nbsp;**Basket weightings:** | &nbsp;&nbsp;1/3 for the SPX Index, 1/3 for the SX5E Index and 1/3 for the TPX Index |

---

Supplemental Terms of the Notes

For purposes of the accompanying product supplement, each underlying index is an "Index."

June 2026 Page 3

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

Key Investment Rationale

The notes offer 102.15% participation in the positive performance of the basket, while providing for the repayment of the principal amount at maturity, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co. At maturity, if the basket has appreciated, investors will receive the stated principal amount of their investment *plus* 102.15% of the appreciation of the basket. At maturity, if the basket has depreciated, the investor will receive only the stated principal amount.

---

| | |
|:---|:---|
| **Repayment of Principal** | The notes offer investors 1 to 1 upside exposure to any basket percent increase, while providing for the repayment of principal in full at maturity, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co. |
| **Upside Scenario** | The basket increases in value and, at maturity, for each $1,000 stated principal amount note, the notes pay the stated principal amount of $1,000 *plus* a return equal to 102.15% of the basket percent increase. |
| **Par Scenario** | The final basket value is less than or equal to the initial basket value. In this case, at maturity, the notes pay the stated principal amount of $1,000 per note. |

---

June 2026 Page 4

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

How the Notes Work

**Payoff Diagram**

The payoff diagram below illustrates the payment at maturity on the notes based on the following terms:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Stated principal amount:** | &nbsp;&nbsp;$1,000 per note |
| &nbsp;&nbsp;**Participation rate:** | &nbsp;&nbsp;102.15% |

---

---

| |
|:---|
| **Notes Payoff Diagram** |
| ![](image_001.jpg) |

---

**How it works**

▪ **Upside Scenario.** If the final basket value is greater than the initial basket value, for each $1,000 stated principal amount note,
at maturity investors will receive the $1,000 stated principal amount *plus* a return equal to 102.15% of the appreciation of the
basket over the term of the notes.

&nbsp;&nbsp;&nbsp;&nbsp;▪ For example, if the basket appreciates 5%, investors will receive a return of 5.1075%, or $1,051.075 per note.

▪ **Par Scenario.** If the final basket value is less than or equal to the initial basket value, at maturity investors will receive
the stated principal amount of $1,000 per note.

&nbsp;&nbsp;&nbsp;&nbsp;▪ For example, if the basket depreciates 5%, investors will receive the stated principal amount of $1,000 per note.

The hypothetical returns and hypothetical payments on the notes shown above apply **only if you hold the notes for their entire term.** These hypotheticals do not reflect 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.

June 2026 Page 5

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

Hypothetical Payouts on the Notes at Maturity

Below are three examples of how to calculate the payment at maturity based on the hypothetical values of the underlying indices in the respective tables below. The following hypothetical examples are provided for illustrative purposes only. Actual results may vary.

The hypothetical initial index value of each underlying index of 100.00 has been chosen for illustrative purposes only and does not represent the actual initial index value of any underlying index. The actual initial index value of each underlying index is the closing level of that underlying index on the pricing date and is specified under "Final Terms — Initial index value" in this pricing supplement. For historical data regarding the actual closing levels of each underlying index, please see the historical information set forth under "Basket Overview" in this pricing supplement.

**<u>Example 1</u>: The final basket value is greater than the initial basket value.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Underlying index** | &nbsp;&nbsp;**Basket<br> weighting** | &nbsp;&nbsp;**Hypothetical<br> initial index value** | &nbsp;&nbsp;**Hypothetical<br> final index value** | &nbsp;&nbsp;**Index return** |
| SPX Index | **1/3** | **100.00** | **103.00** | **+3.00%** |
| SX5E Index | **1/3** | **100.00** | **103.00** | **+3.00%** |
| TPX Index | **1/3** | **100.00** | **103.00** | **+3.00%** |

---

**Basket percent increase = (final basket value – initial basket value) / initial basket value**

**Initial basket value = 100**

**Final basket value = 100 × [1 + sum of (index return of each underlying index × basket weighting of that underlying index)]**

**Using the hypothetical values above, the sum of the index return of each underlying index times the basket weighting of that underlying index:**

---

| |
|:---|
| **[(103.00 – 100.00) / 100.00] × 1/3 = 1.00%** |
| **[(103.00 – 100.00) / 100.00] × 1/3 = 1.00%** |
| **[(103.00 – 100.00) / 100.00] × 1/3 = 1.00%** |
| **1.00% + 1.00% + 1.00% = 3.00%** |

---

**Final basket value** = 100 × (1 + 3%), which equals 103.00

**Basket percent increase** = (103.00 – 100) / 100, which equals 3.00%

The payment at maturity per note will equal $1,000 *plus* the supplemental redemption amount. The supplemental redemption amount will equal (i) $1,000 *times* (ii) the participation rate *times* (iii) the basket percent increase, or:

$1,000 × 102.15% × 3.00% = $30.645

**At maturity, investors will receive $1,030.645 per $1,000 stated principal amount note.**

June 2026 Page 6

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

**<u>Example 2</u>: The final basket value is less than the initial basket value.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Underlying index** | &nbsp;&nbsp;**Basket<br> Weighting** | &nbsp;&nbsp;**Hypothetical<br> initial index value** | &nbsp;&nbsp;**Hypothetical<br> final index value** | &nbsp;&nbsp;**Index return** |
| SPX Index | **1/3** | **100.00** | **94.00** | **-6.00%** |
| SX5E Index | **1/3** | **100.00** | **94.00** | **-6.00%** |
| TPX Index | **1/3** | **100.00** | **94.00** | **-6.00%** |

---

**Final basket value = 100 × [1 + sum of (index return of each underlying index × basket weighting of that underlying index)]**

**Using the hypothetical values above, the sum of the index return of each underlying index times the basket weighting of that underlying index:**

---

| |
|:---|
| **[(94.00 – 100.00) / 100.00] × 1/3 = -2.00%** |
| **[(94.00 – 100.00) / 100.00] × 1/3 = -2.00%** |
| **[(94.00 – 100.00) / 100.00] × 1/3 = -2.00%** |
| **(-2.00%) + (-2.00%) + (-2.00%) = -6.00%** |

---

**Final basket value** = 100 × [1 + (-6.00%)], which equals 94

The payment at maturity per note will equal $1,000.

Because the final basket value is less than the initial basket value, investors will receive the stated principal amount of $1,000 per note, without receiving any positive return.

June 2026 Page 7

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

**<u>Example 3</u>: The final basket value is less than the initial basket value.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Underlying index** | &nbsp;&nbsp;**Basket<br> Weighting** | &nbsp;&nbsp;**Hypothetical<br> initial index value** | &nbsp;&nbsp;**Hypothetical<br> final index value** | &nbsp;&nbsp;**Index return** |
| SPX Index | **1/3** | **100.00** | **10.00** | **-90.00%** |
| SX5E Index | **1/3** | **100.00** | **109.00** | **+9.00%** |
| TPX Index | **1/3** | **100.00** | **109.00** | **+9.00%** |

---

**Final basket value = 100 × [1 + sum of (index return of each underlying index × basket weighting of that underlying index)]**

**Using the hypothetical values above, the sum of the index return of each underlying index times the basket weighting of that underlying index:**

---

| |
|:---|
| **[(10.00 – 100.00) / 100.00] × 1/3 = -30.00%** |
| **[(109.00 – 100.00) / 100.00] × 1/3 = 3.00%** |
| **[(109.00 – 100.00) / 100.00] × 1/3 = 3.00%** |
| **(-30.00%) + 3.00% + 3.00% = -24.00%** |

---

**Final basket value** = 100 × (1 + (-24.00%)), which equals 76

In the above example, the final index values of all the underlying indices except for the SPX Index (with a combined weighting of 2/3 of the basket) are each higher than their respective initial index values, but the final index value of the SPX Index (with a weighting of 1/3 of the basket) is lower than its initial index value. Accordingly, although the final index values of 2/3 (by weight) of the basket have increased in value over their respective initial index values, the final index value of the other 1/3 (by weight) of the basket has declined and, because it has declined significantly, its decline more than offsets the increases in the other underlying indices.

The payment at maturity per note will equal $1,000.

Because the final basket value is less than the initial basket value, investors will receive the stated principal amount of $1,000 per note, without receiving any positive return.

June 2026 Page 8

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

Risk Factors

*The following is a non-exhaustive list of certain key risk factors for investors in the notes. For further discussion of these and other risks, you should read the sections entitled "Risk Factors" of the accompanying prospectus supplement and the accompanying product supplement. We urge you to consult your investment, legal, tax, accounting and other advisers in connection with your investment in the notes.*

Risks Relating to the Notes Generally

&nbsp;&nbsp;&nbsp;&nbsp;▪ **The notes do not pay interest and may not pay more than the stated principal amount.** If the final basket value is less than or
equal the initial basket value, you will receive only the stated principal amount for each note you hold at maturity and will receive
no supplemental redemption amount. As the notes do not pay any interest, if the basket does not appreciate sufficiently over the term
of the notes, the overall return on the notes (the effective yield to maturity) may be less than the amount that would be paid on a conventional
debt security of the issuer of comparable maturity. The notes have been designed for investors who are willing to forgo market fixed
or floating interest rates in exchange for a supplemental redemption amount, if any, based on the performance of the basket.

&nbsp;&nbsp;&nbsp;&nbsp;▪ **The notes are subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co., and any actual or anticipated changes to our or JPMorgan Chase & Co.'s credit ratings or credit spreads may adversely affect the market value of the notes.** Investors are dependent on our and JPMorgan Chase & Co.'s ability to pay all amounts due on the notes.
Any actual or anticipated decline in our or JPMorgan Chase & Co.'s credit ratings or increase in our or JPMorgan
Chase & Co.'s credit spreads determined by the market for taking that credit risk is likely to adversely affect the
market 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.

&nbsp;&nbsp;&nbsp;&nbsp;▪ **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.

&nbsp;&nbsp;&nbsp;&nbsp;▪ **Correlation (or lack of correlation) of performances among the underlying indices may reduce the performance of the basket, and changes in the values of the underlying indices may offset each other**.
The notes are linked to an equally weighted basket consisting of the underlying indices. Movements and performances of the underlying
indices may or may not be correlated with each other. At a time when the value of one or more of the underlying indices increases, the
values of the other underlying indices may not increase as much or may decline. Therefore, in calculating the final basket value, increases
in the value of one or more of the underlying indices may be moderated, or more than offset, by the lesser increases or declines in the
values of the other underlying indices. High correlation of movements in the values of the underlying indices during periods of negative
returns could have an adverse effect on your return on your investment. There can be no assurance that the final basket value will be
greater than the initial basket value.

&nbsp;&nbsp;&nbsp;&nbsp;▪ **Secondary trading may be limited.** The
notes will not be listed on a securities exchange. There may be little or no secondary market for the notes. Even if there is a secondary
market, it may not provide enough liquidity to allow you to trade or sell the notes easily. JPMS may act as a market maker for the notes,
but is not required to do so. Because we do not expect that other market makers will participate

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significantly in the secondary market for the notes, 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. If at any time JPMS or another agent does not act as a market maker, it is likely that there would be little or no secondary market for the notes.

&nbsp;&nbsp;&nbsp;&nbsp;▪ **We may accelerate your notes in our sole discretion and the calculation agent may adjust their final payment in good faith and in a commercially reasonable manner if an acceleration event occurs.** Upon the announcement or
occurrence of an acceleration event, we may, in our sole and absolute discretion, accelerate the payment on your notes and pay you an
amount determined by the calculation agent in good faith and in a commercially reasonable manner by reference to the values of any fixed-income
debt component and any derivatives underlying the economic terms of the notes as of the date of the notice of acceleration. An acceleration
event means there is an announcement or occurrence of legal or regulatory changes that the calculation agent determines are likely to
interfere with your or our ability to transact in or hold the notes or our ability to hedge or perform our obligations under the notes.
If the payment on your notes is accelerated, your investment may result in a loss, and you may not be able to reinvest your money in a
comparable investment. Please see "General Terms of Notes — Consequences of a Change-in-Law Event" in the accompanying
product supplement for more information.

Risks Relating to Conflicts of Interest

▪ **Economic interests of the issuer, the guarantor, the calculation agent, the agent of the offering of the notes and other affiliates of the issuer may be different from those of investors.** We
and our affiliates play a variety of roles in connection with the issuance of the notes, including acting as calculation agent and as
an agent of the offering of the notes, hedging our obligations under the notes and making the assumptions used to determine the pricing
of the notes and the estimated value of the notes, which we refer to as the estimated value of the notes. In performing these duties,
our and JPMorgan Chase & Co.'s economic interests and the economic interests of the calculation agent and other affiliates
of ours are potentially adverse to your interests as an investor in the notes. The calculation agent has determined the initial index
values, will determine the final index values and the final basket value and will calculate the amount of payment you will receive at
maturity. Determinations made by the calculation agent, including with respect to the occurrence or non-occurrence of market disruption
events, the selection of a successor to any underlying index or calculation of the final index value of any underlying index in the event
of a discontinuation or material change in method of calculation of that underlying index, may affect the payment to you at maturity.
In addition, our and JPMorgan Chase & Co.'s business activities, including hedging and trading activities, could cause
our and JPMorgan Chase & Co.'s economic interests to be adverse to yours and could adversely affect any payment on
the notes and the value of 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 for additional information about
these risks.

▪ **Hedging and trading activities by the issuer and its affiliates could potentially affect the value of the notes .** The hedging or trading activities of the issuer's affiliates and of any other hedging counterparty with respect to the notes
on or prior to the pricing date and prior to maturity could have adversely affected, and may continue to adversely affect, the values
of the underlying indices and, as a result, could decrease the amount an investor may receive on the notes at maturity. Any of these hedging
or trading activities on or prior to the pricing date could have affected the initial index value of an underlying index and, therefore,
could potentially increase the level that the final index value of an underlying index must reach before you receive a payment at maturity
that exceeds the issue price of the notes. Additionally, these hedging or trading activities during the term of the notes ,
including on the valuation date, could adversely affect the final basket value and, accordingly, the payment to you at maturity. It is
possible that these hedging or trading activities could result in substantial returns for us or our affiliates while the value of the
notes declines.

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

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selling, structuring and hedging the notes are included in the original issue price of the notes. These costs include the selling commissions, the structuring fee, 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 "Additional Information About the Notes — The estimated value of the notes" in this document.

▪ **The estimated value of the notes does not represent future values of the notes and may differ from others' estimates. The estimated value of the notes is determined by reference to internal pricing models of our affiliates.** This estimated value of the notes is based on market conditions and other relevant
factors existing at the time of pricing and assumptions about market parameters, which can include volatility, dividend rates, interest
rates and other factors. 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 the notes from you in secondary market transactions. See "Additional
Information About the Notes — The estimated value of the notes" in this document.

▪ **The estimated value of the notes is derived by reference to an internal funding rate.** The internal funding rate used in the determination of the estimated value of the notes may differ from the market-implied funding rate for vanilla fixed income instruments of a similar maturity issued
by JPMorgan Chase & Co. or its affiliates. Any difference may be based
on, among other things, our and our affiliates' view of the funding value of the notes as well as the higher issuance, operational
and ongoing liability management costs of the notes in comparison to those costs for the conventional fixed income instruments
of JPMorgan Chase & Co. This internal funding rate is based on certain market inputs and assumptions, which may prove to
be incorrect, and is intended to approximate the prevailing market replacement funding rate for the notes. The
use of an internal funding rate and any potential changes to that rate may have an adverse effect on the terms of the notes and any secondary
market prices of the notes. See "Additional Information About the Notes — The estimated value of the notes" in this
document.

▪ **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. These costs can
include selling commissions, the structuring fee, 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. See "Additional Information About the Notes — Secondary market prices of the notes" in this document
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, the structuring fee, 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 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. See the immediately
following risk factor for information about additional factors that will impact any secondary market prices of the notes.

The notes are not designed to be short-term trading instruments. Accordingly, you should be able and willing to hold your notes to maturity. See "— Risks Relating to the Notes Generally — Secondary trading may be limited" above.

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▪ **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, structuring fee, projected hedging
profits, if any, estimated hedging costs and the closing levels of the underlying indices, including:

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o customary bid-ask spreads for similarly sized trades;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o our internal secondary market funding rates for structured debt issuances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o the actual and expected volatility of the underlying indices and the basket;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o the time to maturity of the notes;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o the dividend rates on the equity securities included in the underlying indices;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o the actual and expected positive or negative correlation among the underlying indices, or the actual and expected absence of any such
correlation;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o interest and yield rates in the market generally;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o the exchange rates and the volatility of the exchange rates between the U.S. dollar and each of the currencies in which the equity
securities included in the SX5E Index and the TPX Index trade and the correlation among those rates and the levels of the SX5E Index and
the TPX Index; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o a variety of other economic, financial, political, regulatory and judicial events.

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.

Risks Relating to the Underlying Indices

▪ **JPMorgan Chase & Co. is currently one of the companies that make up the SPX Index.** JPMorgan Chase & Co. is currently one of the companies
that make up the SPX Index. JPMorgan Chase & Co. will not have any obligation to consider your interests as a holder of
the notes in taking any corporate action that might affect the value of the SPX Index or the notes.

▪ **Investing in the notes is not equivalent to investing in the basket** **or the underlying indices .** Investing in the notes is not equivalent to investing in the basket, any underlying index
or its component stocks . Investors in the notes will not
have voting rights or rights to receive dividends or other distributions or any other rights with respect to the stocks that constitute
any underlying index.

▪ **Adjustments to any underlying index could adversely affect the value of the notes.** The underlying index publisher of any underlying index
may discontinue or suspend calculation or publication of that underlying index at any time. In these circumstances, the calculation agent
will have the sole discretion to substitute a successor index that is comparable to any discontinued underlying index and is not precluded
from considering indices that are calculated and published by the calculation agent or any of its affiliates.

▪ **The notes are subject to risks associated with securities issued by non-U.S. companies with respect to the SX5E Index and the TPX Index.** The equity securities included in the
SX5E Index and the TPX Index have been issued by non-U.S. companies. Investments in securities linked to the value of such non-U.S. equity
securities involve risks associated with the home countries and/or the securities markets in the home countries of the issuers of those
non-U.S. equity securities, including risks of volatility in those markets, governmental intervention in those markets and cross shareholdings
in companies in certain countries. Also, there is generally less publicly available information about companies in some of these jurisdictions
than there is about U.S. companies that are subject to the reporting requirements of the SEC, and generally non-U.S. companies are subject
to accounting, auditing and financial reporting standards and requirements and securities trading rules different from those applicable
to U.S. reporting companies.

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▪ **The notes are not directly exposed to fluctuations in foreign exchange rates with respect to the SX5E Index and the TPX Index.** The value of your notes will not be adjusted for exchange rate fluctuations between the U.S. dollar and the currencies upon which
the equity securities included in the SX5E Index and the TPX Index are based, although any currency fluctuations could affect the performance
of the SX5E Index and the TPX Index. Therefore, if the applicable currencies appreciate or depreciate relative to the U.S. dollar over
the term of the notes, you will not receive any additional payment or incur any reduction in any payment on the notes.

▪ **Governmental legislative and regulatory actions, including sanctions, could adversely affect your investment in the notes.** Governmental legislative and regulatory actions, including, without limitation, sanctions-related actions by the U.S. or a foreign government,
could prohibit or otherwise restrict persons from holding the notes or the securities included in any underlying index, or engaging in
transactions in them, and any such action could adversely affect the value of the notes or any underlying index. These legislative and
regulatory actions could result in restrictions on the notes. You may lose a significant portion or all of your initial investment in
the notes if you are forced to divest the notes due to the government mandates, especially if such divestment must be made at a time when
the value of the notes has declined.

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Basket Overview

The basket is an equally weighted basket composed of three underlying indices.

**Underlying Indices**

**The S&P 500<sup>®</sup> Index.** The S&P 500<sup>®</sup> Index, which is calculated, maintained and published by S&P Dow Jones Indices LLC, consists of stocks of 500 companies selected to provide a performance benchmark for the large market capitalization segment of the U.S. equity markets. For additional information about the S&P 500<sup>®</sup> Index, see "Equity Index Descriptions — The S&P U.S. Indices" in the accompanying underlying supplement.

**The EURO STOXX 50<sup>®</sup> Index.** The EURO STOXX 50<sup>®</sup> Index is a free-float market capitalization-weighted index composed of 50 of the largest stocks in terms of free-float market capitalization traded on the major exchanges of 11 Eurozone countries: Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain. For additional information about the EURO STOXX 50<sup>®</sup> Index, see "Equity Index Descriptions ― The STOXX Benchmark Indices" in the accompanying underlying supplement.

**The TOPIX<sup>®</sup> Index.** The TOPIX<sup>®</sup> Index, also known as the Tokyo Stock Price Index, is a free float-adjusted market capitalization-weighted index of common stocks listed on the Tokyo Stock Exchange, Inc. covering an extensive portion of the Japanese stock market. For additional information about the TOPIX<sup>®</sup> Index, see "Equity Index Descriptions — The TOPIX<sup>®</sup> Index" in the accompanying underlying supplement.

---

| | | | |
|:---|:---|:---|:---|
| **Underlying index information as of June 16, 2026** | **Underlying index information as of June 16, 2026** | **Underlying index information as of June 16, 2026** | **Underlying index information as of June 16, 2026** |
| &nbsp;&nbsp;**Underlying index** | &nbsp;&nbsp;**Bloomberg ticker<br> symbol** | &nbsp;&nbsp;**Current value** | &nbsp;&nbsp;**Basket weighting** |
| **The S&P 500<sup>®</sup> Index** | &nbsp;&nbsp;SPX | &nbsp;&nbsp;7511.35 | &nbsp;&nbsp;1/3 |
| **The TOPIX<sup>®</sup> Index** | &nbsp;&nbsp;TPX | &nbsp;&nbsp;3991.14 | &nbsp;&nbsp;1/3 |
| **The EURO STOXX 50<sup>®</sup> Index** | &nbsp;&nbsp;SX5E | &nbsp;&nbsp;6257.42 | &nbsp;&nbsp;1/3 |

---

The following graph is calculated to show the performance of the basket during the period from January 4, 2021 through June 16, 2026, assuming the underlying indices are weighted as set out above such that the initial basket value was 100 on January 4, 2021 and illustrates the effect of the offset and/or correlation among the underlying indices during that period. The graph does not take into account the participation rate on the notes, nor does it attempt to show your expected return on an investment in the notes. You cannot predict the future performance of any underlying index or of the basket as a whole, or whether increases in the value of any underlying index will be offset by decreases in the values of the other underlying indices. The historical performance of the basket and the degree of correlation among the value trends of the underlying indices (or lack thereof) should not be taken as an indication of its future performance.

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---

| |
|:---|
| **Historical Basket Performance**<br> **January 4, 2021 through June 16, 2026** |
| ![](image_002.jpg) |

---

The following graphs set forth the daily closing levels for each of the underlying indices for the period from January 4, 2021 through June 16, 2026. We obtained the closing level information above and the information in the graphs from the Bloomberg Professional<sup>®</sup> service ("Bloomberg"), without independent verification. The historical closing levels and historical performance of the underlying indices should not be taken as an indication of future performance, and no assurance can be given as to the basket closing value on the valuation date or the closing levels of the underlying indices on the valuation date.

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---

| |
|:---|
| **S&P 500<sup>®</sup> Index Historical Performance – Daily Closing Levels**<br> **January 4, 2021 to June 16, 2026** |
| ![](image_003.jpg) |

---

**License Agreement.** "S&P" and "S&P 500" are trademarks of S&P Global, Inc. or its affiliates and have been licensed for use by JPMorgan Chase & Co. and its affiliates, including JPMorgan Financial. See "Equity Index Descriptions — The S&P U.S. Indices — License Agreement" in the accompanying underlying supplement.

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---

| |
|:---|
| **EURO STOXX 50<sup>®</sup> Index Historical Performance – Daily Closing Levels**<br> **January 4, 2021 to June 16, 2026** |
| ![](image_004.jpg) |

---

**License Agreement.** The EURO STOXX 50<sup>®</sup> Index and STOXX<sup>®</sup> are the intellectual property (including registered trademarks) of STOXX Limited and/or its licensors (the "Licensors"), which are used under license. The notes based on the EURO STOXX 50<sup>®</sup> Index are in no way sponsored, endorsed, sold or promoted by STOXX Limited and its Licensors and neither STOXX Limited nor any of its Licensors shall have any liability with respect thereto. See "Equity Index Descriptions — The STOXX Benchmark Indices — License Agreement" in the accompanying underlying supplement.

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---

| |
|:---|
| **TOPIX<sup>®</sup> Index Historical Performance – Daily Closing Levels**<br> **January 4, 2021 to June 16, 2026** |
| ![](image_005.jpg) |

---

**License Agreement.** JPMorgan Chase & Co. or its affiliate expects to enter into an agreement with JPX Market Innovation & Research, Inc. ("JPXI") (or to obtain a sublicense from an affiliate who has entered into a license agreement with JPXI) that would provide it and certain of its affiliates or subsidiaries, including JPMorgan Financial, with a non-exclusive license and, for a fee, with the right to use the TOPIX<sup>®</sup> Index, which is owned and published by JPXI, in connection with certain securities, including the notes. For more information, see "Equity Index Descriptions — The TOPIX<sup>®</sup> Index — License Agreement" in the accompanying underlying supplement.

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Additional Information About the Notes

Please read this information in conjunction with the terms on the front cover of this document.

---

| | |
|:---|:---|
| **Additional Provisions:** | **Additional Provisions:** |
| **Postponement of maturity date:** | If the scheduled maturity date is not a business day, then the maturity date will be the following business day. If the scheduled valuation date is not a trading day or if a market disruption event occurs on that day so that the valuation date is postponed and falls less than three business days prior to the scheduled maturity date, the maturity date of the notes will be postponed to the third business day following the valuation date as postponed. |
| **Minimum ticketing size:** | $1,000 / 1 note |
| **Trustee:** | Deutsche Bank Trust Company Americas (formerly Bankers Trust Company) |
| **Calculation agent:** | JPMS |
| **The estimated value of the notes:** | The estimated value of the notes set forth on the cover of this document 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 "Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — The estimated value of the notes is derived by reference to an internal funding rate" in this document. 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 on the pricing date is based on market conditions and other relevant factors and assumptions existing at that time. See "Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — The estimated value of the notes does not represent future values of the notes and may differ from others' estimates" in this document.<br> 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 structuring fee, 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 "Risk Factors — 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 document. |
| **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 this document. 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 |

---

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---

| | |
|:---|:---|
|  | zero over an initial predetermined period that is intended to be the shorter of two years 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 "Risk Factors — 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." |
| **Treatment as contingent payment debt instruments:** | You should review carefully the section entitled "United States Federal Taxation," and in particular the subsection thereof entitled "—Tax Consequences to U.S. Holders—Program Securities Treated as Debt Instruments — Program Securities Treated as Contingent Payment Debt Instruments," in the accompanying prospectus supplement. Unlike a traditional debt instrument that provides for periodic payments of interest at a single fixed rate, with respect to which a cash-method investor generally recognizes income only upon receipt of stated interest, our special tax counsel, Davis Polk & Wardwell LLP, is of the opinion that the notes will be treated for U.S. federal income tax purposes as "contingent payment debt instruments." As discussed in that subsection, you generally will be required to accrue original issue discount ("OID") on your notes in each taxable year at the "comparable yield," as determined by us, although we will not make any payment with respect to the notes until maturity. Upon sale or exchange (including at maturity), you will recognize taxable income or loss equal to the difference between the amount received from the sale or exchange and your adjusted basis in the note, which generally will equal the cost thereof, increased by the amount of OID you have accrued in respect of the note. You generally must treat any income as interest income and any loss as ordinary loss to the extent of previous interest inclusions, and the balance as capital loss. The deductibility of capital losses is subject to limitations. The discussions herein 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. Purchasers who are not initial purchasers of notes at their issue price should consult their tax advisers with respect to the tax consequences of an investment in notes, including the treatment of the difference, if any, between the basis in their notes and the notes' adjusted issue price.<br> Section 871(m) of the Code and Treasury regulations promulgated thereunder ("Section 871(m)") generally impose a 30% withholding tax (unless an income tax treaty applies) on dividend equivalents paid or deemed paid to Non-U.S. Holders with respect to certain financial instruments linked to U.S. equities or indices that include U.S. equities. Section 871(m) provides certain exceptions to this withholding regime, including for instruments linked to certain broad-based indices that meet requirements set forth in the applicable Treasury regulations. Additionally, a recent IRS notice excludes from the scope of Section 871(m) instruments issued prior to January 1, 2027 that do not have a delta of one with respect to underlying securities that could pay U.S.-source dividends for U.S. federal income tax purposes (each an "Underlying Security"). Based on certain determinations made by us, our special tax counsel is of the opinion that Section 871(m) should not apply to the notes with regard to Non-U.S. Holders. Our determination is not binding on the IRS, and the IRS may disagree with this determination. Section 871(m) is complex and its application may depend on your particular circumstances, including whether you enter into other transactions with respect to an Underlying Security. You should consult your tax adviser regarding the potential application of Section 871(m) to the notes.<br> The discussions in the preceding paragraphs, when read in combination with the section entitled "United States Federal Taxation" (and in particular the subsection thereof entitled "—Tax Consequences to U.S. Holders—Program Securities Treated as Debt Instruments — Program Securities Treated as Contingent Payment Debt Instruments") in the accompanying prospectus supplement, constitute the full opinion of Davis Polk & Wardwell LLP regarding the material U.S. federal income tax consequences of owning and disposing of the notes. |
| **Comparable yield and projected payment schedule:** | We have determined that the "comparable yield" is an annual rate of 4.69%, compounded semiannually. Based on our determination of the comparable yield, the "projected payment schedule" per $10 stated principal amount security consists of a single payment at maturity, equal to $1,322.72. Assuming a semiannual accrual period, the following table sets out the amount of OID that will accrue with respect to a security during each calendar period, based upon our determination of the comparable yield and projected payment schedule |

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June 2026 Page 20

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

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| | | |
|:---|:---|:---|
| Calendar Period | Accrued OID<br> During<br> Calendar Period<br> (Per $1,000<br> Stated Principal<br> Amount<br> Security) | Total Accrued OID<br> from Original Issue<br> Date (Per $1,000<br> Stated Principal<br> Amount Security) as<br> of End of Calendar<br> Period |
| June 22, 2026 through December 31, 2026 | $24.49 | $24.49 |
| January 1, 2027 through December 31, 2027 | $48.56 | $73.05 |
| January 1, 2028 through December 31, 2028 | $50.87 | $123.92 |
| January 1, 2029 through December 31, 2029 | $53.28 | $177.20 |
| January 1, 2030 through December 31, 2030 | $55.80 | $233.00 |
| January 1, 2031 through December 31, 2031 | $58.44 | $291.44 |
| January 1, 2032 through July 6, 2032 | $31.28 | $322.72 |

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| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Neither the comparable yield nor the projected payment schedule constitutes a representation by us regarding the actual Supplemental Redemption Amount, if any, that we will pay on the securities. The amount you actually receive at maturity or earlier sale or exchange of your securities will affect your income for that year, as described above under "Treatment as contingent payment debt instruments." |
| **Supplemental use of proceeds and hedging:** | 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" in this document for an illustration of the risk-return profile of the notes and "Basket Overview" in this document for a description of the market exposure provided by the notes.<br> 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 and the structuring fee, 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. |
| **Benefit plan investor considerations:** | See "Benefit Plan Investor Considerations" in the accompanying product supplement. |
| **Supplemental plan of distribution:** | Subject to regulatory constraints, JPMS intends to use its reasonable efforts to offer to purchase the notes in the secondary market, but is not required to do so. JPMS, acting as agent for JPMorgan Financial, will pay all of the selling commissions it receives from us to Morgan Stanley Wealth Management. In addition, Morgan Stanley Wealth Management will receive a structuring fee as set forth on the cover of this document for each note.<br> We or our affiliate may enter into swap agreements or related hedge transactions with one of our other affiliates or unaffiliated counterparties in connection with the sale of the notes and JPMS and/or an affiliate may earn additional income as a result of payments pursuant to the swap or related hedge transactions. See "— Supplemental use of proceeds and hedging" above and "Use of Proceeds and Hedging" in the accompanying product supplement. |
| **Validity of the notes and the guarantee:** | In the opinion of Davis Polk & Wardwell LLP, as special products counsel to JPMorgan Financial and JPMorgan Chase & Co., when the notes offered by this pricing supplement have been issued by JPMorgan Financial pursuant to the indenture, the trustee and/or paying agent has made, in accordance with the instructions from JPMorgan Financial, the appropriate entries or notations in its records relating to the master global note that represents such notes (the "master note"), and such notes have been delivered against payment as contemplated herein, such notes will be valid and binding obligations of JPMorgan Financial and the related guarantee will constitute a valid and binding obligation of JPMorgan Chase & Co., enforceable in accordance with their terms, subject to applicable bankruptcy, insolvency and similar laws affecting creditors' rights generally, concepts of reasonableness and equitable principles of general applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith), *provided* that such counsel expresses no opinion as to (x)(i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the conclusions expressed above or (ii) any provision of the indenture that purports to avoid the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law by limiting the amount of JPMorgan Chase & Co.'s obligation under the related guarantee or (y) the validity, legally binding effect or enforceability of any provision that permits holders to collect any portion of the stated principal amount upon acceleration of the notes to the extent determined to constitute unearned interest. This opinion is given as of the date hereof and is limited to the |

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June 2026 Page 21

JPMorgan Chase Financial Company LLC

Market-Linked Notes Based on the Performance of an Equally Weighted Basket of Three Indices due July 6, 2032

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| | |
|:---|:---|
|  | 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. |
| **Where you can find more information:** | &nbsp;&nbsp; You should read this document 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.<br> This document, 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, stand-alone fact sheets, brochures or other educational materials of ours. You should carefully consider, among other things, the matters set forth in the "Risk Factors" sections of the accompanying prospectus supplement and the accompanying product supplement, as the notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the notes.<br> 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):<br> **• Product supplement no. 3-I dated April 17, 2026:** <br> [http://www.sec.gov/Archives/edgar/data/19617/000121390026045198/ea0285802-20_424b2.pdf](http://www.sec.gov/Archives/edgar/data/19617/000121390026045198/ea0285802-20_424b2.pdf)<br> **• Underlying supplement no. 1-I dated April 17, 2026:**<br> [http://www.sec.gov/Archives/edgar/data/19617/000121390026045209/ea0285802-11_424b2.pdf](http://www.sec.gov/Archives/edgar/data/19617/000121390026045209/ea0285802-11_424b2.pdf)<br> **• Prospectus supplement and prospectus, each dated April 17, 2026:** <br> [http://www.sec.gov/Archives/edgar/data/19617/000095010326005889/crt_dp245141-424b2.pdf](http://www.sec.gov/Archives/edgar/data/19617/000095010326005889/crt_dp245141-424b2.pdf)<br> Our Central Index Key, or CIK, on the SEC website is 1665650, and JPMorgan Chase & Co.'s CIK is 19617.<br> As used in this document, "we," "us," and "our" refer to JPMorgan Financial. |

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June 2026 Page 22

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

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| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-3**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **JPMORGAN CHASE & CO**  |

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The maximum aggregate offering price of the securities to which the prospectus relates is $6,618,000. The prospectus is a final prospectus for the related offering.