# EDGAR Filing Document

**Accession Number:** 0001665650
**File Stem:** 0001213900-26-051657
**Filing Date:** 2026-5
**Character Count:** 75678
**Document Hash:** 37880543373e796095b400404b20f519
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-051657.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0001213900-26-051657

**CONFORMED SUBMISSION TYPE**: 424B2

**PUBLIC DOCUMENT COUNT**: 13

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**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:** 26938548

**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:** 26938549

**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** | **April 2026** |

---

Pricing Supplement

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

Dated April 30, 2026

Filed pursuant to Rule 424(b)(2)

Structured Investments

Opportunities in U.S. Equities

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and the Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

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

The Enhanced Trigger Jump Securities do not pay interest and do not guarantee the return of any of the principal at maturity. At maturity, you will receive for each security that you hold an amount in cash that will vary depending on the performance of the worse performing of the S&P 500<sup>®</sup> Index and the Russell 2000<sup>®</sup> Index, as determined on the valuation date. If the final index value of each underlying index is greater than or equal to 80% of its initial index value, you will receive for each security that you hold at maturity a fixed upside payment in addition to the stated principal amount. However, if the final index value of either underlying index is less than 80% of its initial index value, the payment due at maturity will be less than the stated principal amount of the securities by an amount that is proportionate to the percentage decrease in the final index value of the worse performing underlying index from its initial index value. This amount will be less than $800.00 and could be zero. **Accordingly, investors may lose their entire initial investment in the securities.** Because the payment at maturity is based on the worse performing of the underlying indices, a decline below the trigger level of either underlying index will result in a loss, which may be significant, of your initial investment, even if the other underlying index has appreciated or has not declined below its trigger level. The securities are for investors who are willing to risk their principal and forgo current income in exchange for the upside payment feature that applies to a limited range of the performance of the worse performing underlying index. The Enhanced Trigger Jump Securities 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 securities is subject to the credit risk of JPMorgan Financial, as issuer of the securities, and the credit risk of JPMorgan Chase & Co., as guarantor of the securities.**

---

| | |
|:---|:---|
| &nbsp;&nbsp;**FINAL TERMS** | &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;**Underlying indices:** | S&P 500<sup>®</sup> Index (Bloomberg ticker: SPX Index) (the "SPX Index") and Russell 2000<sup>®</sup> Index (Bloomberg ticker: RTY Index) (the "RTY Index") (each an "underlying index") |
| &nbsp;&nbsp;**Aggregate principal amount:** | $10817000 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Payment at maturity:** | ▪ If the final index value of each underlying index is *greater than or equal to* its trigger level, you will receive at maturity a cash payment per $1,000 stated principal amount security equal to: |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$1,000 + the upside payment |
|  | ▪ If the final index value of either underlying index is *less than* its trigger level, you will receive at maturity a cash payment per $1,000 stated principal amount security equal to: |

---

---

| | |
|:---|:---|
|  | $1,000 × index performance factor of the worse performing underlying index |
|  | *This amount will be less than the stated principal amount of $1,000, and will represent a loss of more than 20%, and possibly all, of your principal amount.* |
| &nbsp;&nbsp;**Upside payment:** | $127.50 per $1,000 stated principal amount security (12.75% of the stated principal amount) |
| &nbsp;&nbsp;**Stated principal amount:** | $1,000 per security |
| &nbsp;&nbsp;**Issue price:** | $1,000 per security (see "Commissions and issue price" below) |
| &nbsp;&nbsp;**Pricing date:** | April 30, 2026 |
| &nbsp;&nbsp;**Original issue date (settlement date):** | May 5, 2026 |
| &nbsp;&nbsp;**Valuation date\*:** | July 30, 2027 |
| &nbsp;&nbsp;**Maturity date\*:** | August 4, 2027 |
|  | ***Terms continued on the following page*** |
| &nbsp;&nbsp;**CUSIP / ISIN:** | 46660TE63 / US46660TE637 |
| &nbsp;&nbsp;**Listing:** | The securities will not be listed on any securities exchange. |
| &nbsp;&nbsp;**Agent:** | J.P. Morgan Securities LLC ("JPMS") |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Commissions and issue price:** | **Price to public<sup>(1)</sup>** | **Fees and commissions** | **Proceeds to issuer** |
| &nbsp;&nbsp;**Per security** | $1000.00 | &nbsp;&nbsp;$17.50<sup>(2)</sup> | &nbsp;&nbsp;$977.50 |
|  |  | &nbsp;&nbsp;$5.00<sup>(3)</sup> |  |
| &nbsp;&nbsp;**Total** | $10817000.00 | &nbsp;&nbsp;$243382.50 | &nbsp;&nbsp;$10573617.50 |

---

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

*(2)* *JPMS, acting as agent for JPMorgan Financial, will pay all of the selling commissions of $17.50 per $1,000 stated principal amount security 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 security* 

**The estimated value of the securities on the pricing date was $973.10 per $1,000 stated principal amount security. See "Additional Information about the Securities — The estimated value of the securities" in this document for additional information.**

**Investing in the securities 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 securities 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 securities 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 Securities" 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: <u>[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)</u>

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

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

---

| | |
|:---|:---|
| ***Terms continued from previous page:*** | ***Terms continued from previous page:*** |
| &nbsp;&nbsp;**Index performance factor:** | &nbsp;&nbsp;With respect to each underlying index, final index value / initial index value |
| &nbsp;&nbsp;**Trigger level:** | &nbsp;&nbsp; With respect to the SPX Index: 5,767.208, which is 80% of its initial index value<br> With respect to the RTY Index: 2,239.924, which is 80% of its initial index value |
| &nbsp;&nbsp;**Initial index value:** | &nbsp;&nbsp; With respect to the SPX Index: 7,209.01, which is its closing level on the pricing date<br> With respect to the RTY Index: 2,799.905, which is its closing level on the pricing date |
| &nbsp;&nbsp;**Final index value:** | &nbsp;&nbsp;With respect to each underlying index, the closing level of that underlying index on the valuation date |
| &nbsp;&nbsp;**Worse performing underlying index:** | &nbsp;&nbsp;The underlying index with the lower index performance factor |

---

\* 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

April 2026 Page 2

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Investment Summary

**The Enhanced Trigger Jump Securities**

The Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027 (the "securities") can be used:

▪ As an alternative to direct exposure to the underlying indices that provides a fixed, positive return of 12.75% (as reflected in the
upside payment of $127.50 per $1,000 stated principal amount security) if the final index value of each underlying index is greater than
or equal to 80% of its initial index value, which we refer to as a trigger level.

▪ To enhance returns and potentially outperform the worse performing underlying index in a moderately bullish environment, but only
if the final index value of the worse performing underlying index is greater than or equal to its trigger level.

▪ To obtain limited market downside protection against the loss of principal in the event of a decline of the worse performing underlying
index as of the valuation date, subject to the credit risks of JPMorgan Financial and JPMorgan Chase & Co., but only if
the final index value of the worse performing underlying index is greater than or equal to its trigger level.

If the final index value of either underlying index is less than its trigger level, the securities are exposed on a 1-to-1 basis to any percentage decline of the final index value of the worse performing underlying index from its initial index value. Accordingly, investors may lose their entire initial investment in the securities.

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Maturity:** | &nbsp;&nbsp;Approximately 15 months |
| &nbsp;&nbsp;**Upside payment:** | &nbsp;&nbsp;$127.50 per $1,000 stated principal amount security (12.75% of the stated principal amount) |
| &nbsp;&nbsp;**Trigger level:** | &nbsp;&nbsp;With respect to each underlying index, 80% of its initial index value |
| &nbsp;&nbsp;**Minimum payment at maturity:** | &nbsp;&nbsp;None. Investors may lose their entire initial investment in the securities. |
| &nbsp;&nbsp;**Interest:** |  |

---

Supplemental Terms of the Securities

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

April 2026 Page 3

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Key Investment Rationale

This investment offers a fixed, positive return at maturity if the final index value of each underlying index is greater than or equal to 80% of its initial index value, which we refer to as a trigger level. However, if the final index value of either underlying index is less than its trigger level, the payment at maturity will be less than $800.00 and could be zero.

---

| | |
|:---|:---|
| **Upside Scenario** | *If the final index value of each underlying index is greater than or equal to its trigger level,* the payment at maturity for each security will be equal to $1,000 *plus* the upside payment of $127.50 per $1,000 stated principal amount security. |
| **Downside Scenario** | *If the final index value of either underlying index is less than its trigger level, which means that at least one underlying index has depreciated by more than 20% from its initial index value*, you will lose 1% for every 1% decline of the level of the worse performing underlying index from its initial index value to its final index value (*e.g.*, a 50% depreciation of the worse performing underlying index will result in a payment at maturity that is less than the stated principal amount by 50%, or $500.00 per $1,000 stated principal amount security). |

---

April 2026 Page 4

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

How the Enhanced Trigger Jump Securities Work

**Payoff Diagram**

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

---

| | |
|:---|:---|
| **Stated principal amount:** | &nbsp;&nbsp;$1,000 per $1,000 stated principal amount security |
| **Upside payment:** | $127.50 (12.75% of the stated principal amount) per $1,000 stated principal amount security |
| **Trigger level:** | With respect to each underlying index, 80% of its initial index value (-20% change in its final index value compared with its initial index value) |

---

**Enhanced Trigger Jump Securities Payoff Diagram**

April 2026 Page 5

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Hypothetical Examples

The following hypothetical examples illustrate how to calculate the payment at maturity on the securities. The following examples are for illustrative purposes only. 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 either 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. The actual trigger level of each underlying index is specified under "Final Terms — Trigger level" in this pricing supplement. For historical data regarding the actual closing levels of each underlying index, please see the historical information set forth under "S&P 500<sup>®</sup> Index Overview" and "Russell 2000<sup>®</sup> Index Overview," as applicable, in this pricing supplement. All payments on the securities, if any, are subject to our and JPMorgan Chase & Co.'s credit risks. The numbers in the hypothetical examples below may have been rounded for the ease of analysis. The examples below are based on the following assumed terms:

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Stated principal amount:** | $1,000 per $1,000 stated principal amount security |
| &nbsp;&nbsp;**Hypothetical initial index value:** | &nbsp;&nbsp; With respect to the SPX Index: 100.00<br> With respect to the RTY Index: 100.00 |
| &nbsp;&nbsp;**Hypothetical trigger level:** | &nbsp;&nbsp; With respect to the SPX Index: 80.00, which is 80% of its hypothetical initial index value<br> With respect to the RTY Index: 80.00, which is 80% of its hypothetical initial index value |
| &nbsp;&nbsp;**Upside payment:** | $127.50 (12.75% of the stated principal amount) per $1,000 stated principal amount security |
| &nbsp;&nbsp;**Interest:** |  |

---

**EXAMPLE 1: Each underlying index appreciates moderately and investors receive the stated principal amount *plus* the upside payment.**

---

| | |
|:---|:---|
| Final index value | SPX Index: 110.00<br> RTY Index: 105.00 |
| Index performance factor | SPX Index: 110.00 / 100.00 = 110%<br> RTY Index: 105.00 / 100.00 = 105% |
| Payment at maturity | $1,000 + the upside payment |
|  | $1,000 + $127.50 |
|  | $1127.50 |

---

In example 1, the closing level of the SPX Index has appreciated by 10% and the closing level of the RTY Index has appreciated by 5% as of the valuation date. Because the final index value of each underlying index is at or above its trigger level, investors receive at maturity the stated principal amount *plus* the upside payment of $127.50. Investors receive $1,127.50 per $1,000 stated principal amount security at maturity.

**EXAMPLE 2**: **One underlying index appreciates moderately while the other declines to below its initial index value, but not by more than its trigger level, as of the valuation date, and investors receive the stated principal amount *plus* the upside payment.**

---

| | |
|:---|:---|
| Final index value | SPX Index: 110.00<br> RTY Index: 85.00 |
| Index performance factor | SPX Index: 110.00 / 100.00 = 110%<br> RTY Index: 85.00 / 100.00 = 85% |

---

April 2026 Page 6

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

---

| | |
|:---|:---|
| Payment at maturity | $1,000 + the upside payment |
|  | $1,000 + $127.50 |
|  | $1127.50 |

---

In example 2, the closing level of the RTY Index has declined by 15% to below its initial index value, while the closing level of the SPX Index has appreciated by 10% as of the valuation date. Because the final index value of each underlying index is at or above its trigger level, investors receive at maturity the stated principal amount *plus* the upside payment of $127.50. Investors receive $1,127.50 per $1,000 stated principal amount security at maturity. This is the case even though one of the underlying indices has depreciated.

**EXAMPLE 3: Each underlying index appreciates significantly and investors receive the stated principal amount *plus* the upside payment.**

---

| | |
|:---|:---|
| Final index value | SPX Index: 150.00<br> RTY Index: 175.00 |
| Index performance factor | SPX Index: 150.00 / 100.00 = 150%<br> RTY Index: 175.00 / 100.00 = 175% |
| Payment at maturity | $1,000 + the upside payment |
|  | $1,000 + $127.50 |
|  | $1127.50 |

---

In example 3, the closing level of the SPX Index has appreciated by 50% and the closing level of the RTY Index has appreciated by 75% as of the valuation date. Because the final index value of each underlying index is at or above its trigger level, investors receive at maturity the stated principal amount *plus* the upside payment of $127.50. Investors receive $1,127.50 per $1,000 stated principal amount security at maturity. Even though the worse performing underlying index increased by 50% from its initial index value to its final index value in this example, your return is limited to 12.75%.

**EXAMPLE 4: One underlying index declines to below its trigger level while the other appreciates as of the valuation date, and investors are exposed to the decline in the worse performing underlying index from its initial index value.**

---

| | |
|:---|:---|
| Final index value | SPX Index: 105.00<br> RTY Index: 60.00 |
| Index performance factor | SPX Index: 105.00 / 100.00 = 105%<br> RTY Index: 60.00 / 100.00 = 60% |
| Payment at maturity | $1,000 × index performance factor of worse performing underlying index |
|  | $1,000 × 60% |
|  | $600 |

---

In example 4, the final index value of the SPX Index is greater than its trigger level. However, the final index value of the RTY Index has declined by 40% to below its trigger level. Therefore, investors are exposed to the negative performance of the RTY Index, which is the worse performing underlying index in this example, and receive a payment at maturity of $600.00 per $1,000 stated principal amount security. Investors lose 1% of the stated principal amount for every 1% decline in the closing level of the RTY Index from its initial index value, even though the other underlying index has appreciated from its initial index value.

**EXAMPLE 5: Each underlying index declines to below its respective trigger levels as of the valuation date, and investors are exposed to the decline in the worse performing underlying index from its initial index value.**

April 2026 Page 7

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

---

| | |
|:---|:---|
| Final index value | SPX Index: 30.00<br> RTY Index: 50.00 |
| Index performance factor | SPX Index: 30.00 / 100.00 = 30%<br> RTY Index: 50.00 / 100.00 = 50% |
| Payment at maturity | $1,000 × index performance factor of worse performing underlying index |
|  | $1,000 × 30% |
|  | $300 |

---

In example 5, the final index values of the SPX Index and RTY Index are less than their respective trigger levels. The closing level of the RTY Index has declined by 50%, while the closing level of the SPX Index has declined by 70%. Therefore, investors are exposed to the negative performance of the SPX Index, which is the worse performing underlying index in this example, and receive a payment at maturity of $300.00 per $1,000 stated principal amount security.

**Because the payment at maturity of the securities is based on the worse performing of the underlying indices, a decline in either of the underlying indices below its trigger level will result in a loss, which may be significant, of your initial investment, even if the other underlying index has appreciated.**

The hypothetical returns and hypothetical payments on the securities shown above apply **only if you hold the securities 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.

April 2026 Page 8

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Risk Factors

*The following is a non-exhaustive list of certain key risk factors for investors in the securities. 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 securities*.

Risks Relating to the Securities Generally

▪ **The securities do not pay interest or guarantee the return of any principal and your investment in the securities may result in a loss.** The terms of the securities differ from those of ordinary debt securities in that the securities do not pay interest or guarantee the payment of any stated principal amount at maturity. If the final index value of either underlying
index is less than its trigger level, you will receive for each security that you hold a payment at maturity that is less than the $1,000
stated principal amount of each security by an amount
proportionate to the decline in the closing level of the worse performing underlying index on the valuation date from its initial index
value. There is no minimum payment at maturity on the securities and, accordingly, you could lose your entire principal amount.

▪ **Appreciation potential is fixed and limited.** If
the final index value of each underlying index is greater than or equal to its trigger level, the appreciation potential of the securities
is limited to the fixed upside payment of $127.50 per security (12.75% of the stated principal amount), even if the final index value
of each underlying index is significantly greater than its initial index value. See "How the Enhanced Trigger Jump Securities Work"
on page 5 above and "Hypothetical Examples" on page 6 above.

▪ **Your ability to receive the upside payment may terminate on the valuation date.** If the final index value of either underlying index is less than its trigger level, you will
not be entitled to receive the upside payment at maturity. Under these circumstances, you will lose more than 20% of your principal amount
and may lose all of your principal amount at maturity.

▪ **You are exposed to the price risk of each underlying index.** Your
return on the securities is not linked to a basket consisting of the underlying indices. Rather, it will be contingent upon the independent
performance of each underlying index. Unlike an instrument with a return linked to a basket of underlying assets in which risk is mitigated
and diversified among all the components of the basket, you will be exposed to the risks related to each underlying index. The performance
of the underlying indices may not be correlated. Poor performance by either underlying index over the term of the securities will negatively
affect your return and will not be offset or mitigated by any positive performance by the other underlying index. Accordingly, your investment
is subject to the risk of decline in the closing level of each underlying index.

▪ **To receive the upside payment, each underlying index must close at or above its trigger level on the valuation date.** If either underlying index has declined below its trigger
level as of the valuation date, you will be fully exposed to the decline in the worse performing underlying index, as compared to its
initial index value, on a 1-to-1 basis, even if the other underlying index has appreciated. Under this scenario, the value of any payment
at maturity will be less than 80% of the stated principal amount and could be zero.

▪ **Because the securities are linked to the performance of the worse performing underlying index, you are exposed to greater risks of sustaining a loss on your investment than if the securities were linked to just one underlying index.** The risk that you will suffer a loss on your investment is greater if you
invest in the securities than if you invest in substantially similar securities that are linked to the performance of just one underlying
index. With two underlying indices, it is more likely that an underlying index will close below its trigger level on the valuation date
than if the securities were linked to only one underlying index. In addition, you will not benefit from the performance of the underlying
index other than the worse performing underlying index. Therefore it is more likely that you will suffer a loss, which may be significant
loss, of your initial investment.

April 2026 Page 9

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

▪ **The securities 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 securities.** Investors are dependent on our and JPMorgan
Chase & Co.'s ability to pay all amounts due on the securities. 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 securities. If we and JPMorgan Chase & Co.
were to default on our payment obligations, you may not receive any amounts owed to you under the securities and you could lose your entire
investment.

▪ **As a finance subsidiary, JPMorgan Financial has no independent activities and has limited assets.** As a finance subsidiary of JPMorgan Chase & Co., we have no independent activities beyond
the issuance and administration of our securities and the collection of intercompany obligations. Aside from the initial capital contribution
from JPMorgan Chase & Co., substantially all of our assets relate to obligations of JPMorgan Chase & Co. to
make payments under loans made by us to JPMorgan Chase & Co. or under other intercompany agreements. As a result, we are
dependent upon payments from JPMorgan Chase & Co. to meet our obligations under the securities. 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 securities as they come due. If JPMorgan Chase & Co.
does not make payments to us and we are unable to make payments on the securities, you may have to seek payment under the related guarantee
by JPMorgan Chase & Co., and that guarantee will rank *pari passu* with all other unsecured and unsubordinated obligations
of JPMorgan Chase & Co. For more information, see "Risk Factors — Holders of securities issued by JPMorgan Financial
may be subject to losses if JPMorgan Chase & Co. were to enter into a resolution" in the accompanying prospectus supplement.

▪ **The benefit provided by the trigger level may terminate on the valuation date.** If the final index value of either underlying
index is less than its trigger level, the benefit provided by the trigger level will terminate and you will be fully exposed to any depreciation
of the worse performing underlying index.

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

▪ **The tax consequences of an investment in the securities are uncertain.** There is no direct legal authority as to the proper
U.S. federal income tax characterization of the securities, and we do not intend to request a ruling from the IRS. The IRS might not accept,
and a court might not uphold, the treatment of the securities described in "Additional Information about the Securities ―
Additional Provisions ― Tax considerations" in this document and in "United States Federal Taxation" in the accompanying
prospectus supplement. If the IRS were successful in asserting an alternative treatment for the securities, the timing and character of
any income or loss on the securities could differ materially and adversely from our description herein. In addition, in 2007 Treasury
and the IRS released a notice requesting comments on the U.S. federal income tax treatment of "prepaid forward contracts"
and similar instruments. The notice focuses in particular on whether to require investors in these instruments to accrue income over the
term of their investment. It also asks for comments on a number of related topics, including the character of income or loss with respect
to these instruments; the relevance of factors such as the nature of the underlying property to which the instruments are linked; the
degree, if any, to which income (including any mandated accruals) realized by non-U.S. investors should be subject to withholding tax;
and whether these instruments are or should be subject to the "constructive ownership" regime, which very generally can operate
to recharacterize certain long-term capital gain as ordinary income and impose a notional interest charge. While the notice requests comments
on appropriate transition rules and effective dates, any

April 2026 Page 10

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Treasury regulations or other guidance promulgated after consideration of these issues could materially and adversely affect the tax consequences of an investment in the securities, possibly with retroactive effect. You should review carefully the section entitled "United States Federal Taxation" in the accompanying prospectus supplement and consult your tax adviser regarding the U.S. federal income tax consequences of an investment in the securities, including possible alternative treatments and the issues presented by this notice.

Risks Relating to Conflicts of Interest

▪ Economic interests of the issuer, the guarantor, the calculation agent, the agent of the offering of the securities 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 securities, including acting as calculation agent and
as an agent of the offering of the securities, hedging our obligations under the securities and making the assumptions used to determine
the pricing of the securities and the estimated value of the securities, which we refer to as the estimated value of the securities. 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 securities. The calculation agent has
determined the initial index values and the trigger levels, will determine the final index values and will calculate the amount of payment
you will receive at maturity, if any. 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 either underlying index or calculation of the final index value of either
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 securities and the value of the securities. It is possible that hedging or trading activities of ours or our affiliates in connection with the securities could result in substantial returns for us or our affiliates while the value of the securities 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 securities.** The
hedging or trading activities of the issuer's affiliates and of any other hedging counterparty with respect to the securities on
or prior to the pricing date and prior to maturity could have adversely affected, and may continue to adversely affect, the levels of
the underlying indices and, as a result, could decrease the amount an investor may receive on the securities at maturity, if any. Any
of these hedging or trading activities on or prior to the pricing date could have affected the initial index values and the trigger levels
and, therefore, could potentially increase the levels that the final index values must reach before you receive a payment at maturity
that exceeds the issue price of the securities or so that you do not suffer a loss on your initial investment in the securities. Additionally,
these hedging or trading activities during the term of the securities, including on the valuation date, could adversely affect the final
index values and, accordingly, the payment to you at maturity, if any. It is possible that these hedging or trading activities could result
in substantial returns for us or our affiliates while the value of the securities declines.

April 2026 Page 11

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Risks Relating to the Estimated Value and Secondary Market Prices of the Securities

▪ **The estimated value of the securities is lower than the original issue price (price to public) of the securities.** The estimated value of the securities is only an estimate
determined by reference to several factors. The original issue price of the securities exceeds the estimated value of the securities because
costs associated with selling, structuring and hedging the securities are included in the original issue price of the securities. 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 securities, the estimated cost of hedging our obligations under the securities and
the fees, if any, paid for third-party data analytics and/or electronic platform services. See "Additional Information about the
Securities — The estimated value of the securities" in this document.

▪ **The estimated value of the securities does not represent future values of the securities and may differ from others' estimates.** The estimated value of the securities
is determined by reference to internal pricing models of our affiliates. This estimated value of the securities 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 securities that are
greater than or less than the estimated value of the securities. 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 securities 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 securities from you in
secondary market transactions. See "Additional Information about the Securities — The estimated value of the securities"
in this document.

▪ **The estimated value of the securities is derived by reference to an internal funding rate.** The internal funding rate used in
the determination of the estimated value of the securities 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 securities as well as the higher issuance, operational and ongoing liability
management costs of the securities 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 securities. The use of an internal funding rate and any potential changes to that
rate may have an adverse effect on the terms of the securities and any secondary market prices of the securities. See "Additional
Information about the Securities — The estimated value of the securities" in this document.

▪ **The value of the securities as published by JPMS (and which may be reflected on customer account statements) may be higher than the then-current estimated value of the securities for a limited time period.** We generally expect that some of the costs included
in the original issue price of the securities will be partially paid back to you in connection with any repurchases of your securities
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 Securities —
Secondary market prices of the securities" in this document for additional information relating to this initial period. Accordingly,
the estimated value of your securities during this initial period may be lower than the value of the securities as published by JPMS (and
which may be 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 secondary market prices of the securities will likely
be lower than the original issue price of the securities because, among other things, secondary market prices take into account our internal

April 2026 Page 12

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

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 securities. As a result, the price, if any, at which JPMS will be willing to buy securities from you in secondary market transactions, if at all, is likely to be lower than the original issue price. Furthermore, if you sell your securities, 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 securities.

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

▪ **Secondary market prices of the securities will be impacted by many economic and market factors.** The secondary market price of the securities 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 level of each underlying index, 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 each underlying index;

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

&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 between the underlying indices, or the actual or 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; 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 securities, which may also be reflected on customer account statements. This price may be different (higher or lower) than the price of the securities, if any, at which JPMS may be willing to purchase your securities 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 securities
in taking any corporate action that might affect the value of the SPX Index or the securities.

▪ **An investment in the securities is subject to risks associated with small capitalization stocks with respect to the RTY Index.** The stocks that constitute the RTY Index are
issued by companies with relatively small market capitalization. The stock prices of smaller companies may be more volatile than stock
prices of large capitalization companies. Small capitalization companies may be less able to withstand adverse economic, market, trade
and competitive conditions relative to larger companies. Small capitalization companies are less likely to pay dividends on their stocks,
and the presence of a dividend payment could be a factor that limits downward stock price pressure under adverse market conditions.

April 2026 Page 13

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

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

▪ **Adjustments to either underlying index could adversely affect the value of the securities.** The underlying index publisher of either 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 the discontinued underlying index and is not precluded from considering
indices that are calculated and published by the calculation agent or any of its affiliates.

April 2026 Page 14

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

S&P 500<sup>®</sup> Index Overview

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 closing level of the S&P 500<sup>®</sup> Index on April 30, 2026 was 7,209.01. The following graph shows the closing levels of the S&P 500<sup>®</sup> Index for each day from January 4, 2021 through April 30, 2026. We obtained the closing level information above and the information in the graph below from the Bloomberg Professional<sup>®</sup> service ("Bloomberg"), without independent verification.

The historical closing levels of the S&P 500<sup>®</sup> Index should not be taken as an indication of future performance, and no assurance can be given as to the closing level of the S&P 500<sup>®</sup> Index on the valuation date. The payment of dividends on the stocks that constitute the S&P 500<sup>®</sup> Index is not reflected in its closing level and, therefore, has no effect on the calculation of the payment at maturity.

---

| |
|:---|
| **S&P 500<sup>®</sup> Index Historical Performance – Daily Closing Levels\***<br> **January 4, 2021 to April 30, 2026** |
| \*The dotted line in the graph indicates the trigger level, equal to 80% of the closing level<br> on April 30, 2026. |

---

**License Agreement.** "S&P<sup>®</sup>" and "S&P 500<sup>®</sup>" 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.

April 2026 Page 15

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Russell 2000<sup>®</sup> Index Overview

The Russell 2000<sup>®</sup> Index measures the capitalization-weighted price performance of 2,000 U.S. small-capitalization stocks listed on eligible U.S. exchanges and is designed to track the performance of the small-capitalization segment of the U.S. equity market. The companies included in the Russell 2000<sup>®</sup> Index are the middle 2,000 of the companies that form the Russell 3000E™ Index, which is composed of the 4,000 largest U.S. companies as determined by total market capitalization and represents approximately 99% of the U.S. equity market. For additional information about the Russell 2000<sup>®</sup> Index, see "Equity Index Descriptions — The Russell Indices" in the accompanying underlying supplement.

The closing level of the Russell 2000<sup>®</sup> Index on April 30, 2026 was 2,799.905. The following graph shows the closing levels of the Russell 2000<sup>®</sup> Index for each day from January 4, 2021 through April 30, 2026. We obtained the closing level information above and the information in the graph below from the Bloomberg, without independent verification.

The historical levels of the Russell 2000<sup>®</sup> Index should not be taken as an indication of future performance, and no assurance can be given as to the closing level of the Russell 2000<sup>®</sup> Index on the valuation date. The payment of dividends on the stocks that constitute the Russell 2000<sup>®</sup> Index is not reflected in its closing level and, therefore, has no effect on the calculation of the payment at maturity.

---

| |
|:---|
| **Russell 2000<sup>®</sup> Index Historical Performance – Daily Closing Levels\*<br> January 4, 2021 to April 30, 2026** |
| ![](image_003.jpg) |
| \*The dotted line in the graph indicates the trigger level, equal to 80% of the closing level on April 30, 2026. |

---

**License Agreement.** The "Russell 2000<sup>®</sup> Index" is a trademark of FTSE Russell and has been licensed for use by JPMorgan Chase Bank, National Association and its affiliates. See "Equity Index Descriptions — The Russell Indices — Disclaimers" in the accompanying underlying supplement.

April 2026 Page 16

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

Additional Information about the Securities

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 securities will be postponed to the third business day following the valuation date as postponed. |
| **Minimum ticketing size:** | $1,000 / 1 security |
| **Trustee:** | Deutsche Bank Trust Company Americas (formerly Bankers Trust Company) |
| **Calculation agent:** | JPMS |
| **The estimated value of the securities:** | The estimated value of the securities 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 securities, valued using the internal funding rate described below, and (2) the derivative or derivatives underlying the economic terms of the securities. The estimated value of the securities does not represent a minimum price at which JPMS would be willing to buy your securities in any secondary market (if any exists) at any time. The internal funding rate used in the determination of the estimated value of the securities 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 securities as well as the higher issuance, operational and ongoing liability management costs of the securities 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 securities. The use of an internal funding rate and any potential changes to that rate may have an adverse effect on the terms of the securities and any secondary market prices of the securities. For additional information, see "Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Securities — The estimated value of the securities 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 securities 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 securities 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 Securities — The estimated value of the securities does not represent future values of the securities and may differ from others' estimates" in this document.<br> The estimated value of the securities is lower than the original issue price of the securities because costs associated with selling, structuring and hedging the securities are included in the original issue price of the securities. 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 securities, the estimated cost of hedging our obligations under the securities 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 securities 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 Securities — The estimated value of the securities is lower than the original issue price (price to public) of the securities" in this document. |
| **Secondary market prices of the securities:** | For information about factors that will impact any secondary market prices of the securities, see "Risk Factors — Risks Relating to the Estimated Value and Secondary Market Prices of the Securities — Secondary market prices of the securities will be impacted by many |

---

April 2026 Page 17

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

---

| | |
|:---|:---|
|  | 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 securities will be partially paid back to you in connection with any repurchases of your securities by JPMS in an amount that will decline to 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 securities. The length of any such initial period reflects the structure of the securities, whether our affiliates expect to earn a profit in connection with our hedging activities, the estimated costs of hedging the securities 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 Securities — The value of the securities as published by JPMS (and which may be reflected on customer account statements) may be higher than the then-current estimated value of the securities for a limited time period." |
| **Tax considerations:** | You should review carefully the section entitled "United States Federal Taxation" in the accompanying prospectus supplement. The following discussion, when read in combination with that section, constitutes the full opinion of our special tax counsel, Davis Polk & Wardwell LLP, regarding the material U.S. federal income tax consequences of owning and disposing of the securities.<br> Based on current market conditions, in the opinion of our special tax counsel, it is reasonable to treat your securities as "open transactions" that are not debt instruments for U.S. federal income tax purposes, as more fully described in "United States Federal Taxation — Tax Consequences to U.S. Holders — Program Securities Treated as Prepaid Financial Contracts That are Open Transactions" in the accompanying prospectus supplement. Assuming this treatment is respected, the gain or loss on your securities should be treated as long-term capital gain or loss if you hold your securities 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 may not respect this treatment of the securities, in which case the timing and character of any income or loss on the securities could be materially and adversely affected. In addition, in 2007 Treasury and the IRS released a notice requesting comments on the U.S. federal income tax treatment of "prepaid forward contracts" and similar instruments. The notice focuses in particular on whether to require investors in these instruments to accrue income over the term of their investment. It also asks for comments on a number of related topics, including the character of income or loss with respect to these instruments; the relevance of factors such as the nature of the underlying property to which the instruments are linked; the degree, if any, to which income (including any mandated accruals) realized by non-U.S. investors should be subject to withholding tax; and whether these instruments are or should be subject to the "constructive ownership" regime, which very generally can operate to recharacterize certain long-term capital gain as ordinary income and impose a notional interest charge. While the notice requests comments on appropriate transition rules and effective dates, any Treasury regulations or other guidance promulgated after consideration of these issues could materially and adversely affect the tax consequences of an investment in the securities, possibly with retroactive effect. You should consult your tax adviser regarding the U.S. federal income tax consequences of an investment in the securities, including possible alternative treatments and the issues presented by this notice.<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 securities 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 securities. |
| **Supplemental use of proceeds and hedging:** | The securities are offered to meet investor demand for products that reflect the risk-return profile and market exposure provided by the securities. See "How the Enhanced Trigger Jump Securities Work" and "Hypothetical Examples" in this document for an illustration of the risk-return profile of the securities and "S&P 500<sup>®</sup> Index Overview" and "Russell 2000<sup>®</sup> Index Overview" in this document for a description of the market exposure provided by the securities.<br> The original issue price of the securities is equal to the estimated value of the securities 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 |

---

April 2026 Page 18

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

---

| | |
|:---|:---|
|  | for assuming risks inherent in hedging our obligations under the securities, plus the estimated cost of hedging our obligations under the securities, 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 securities 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 security.<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 securities 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 securities and the guarantee:** | In the opinion of Davis Polk & Wardwell LLP, as special products counsel to JPMorgan Financial and JPMorgan Chase & Co., when the securities 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 securities (the "master note"), and such securities have been delivered against payment as contemplated herein, such securities 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 securities to the extent determined to constitute unearned interest. This opinion is given as of the date hereof and is limited to the laws of the State of New York, the General Corporation Law of the State of Delaware and the Delaware Limited Liability Company Act, except that such counsel expresses no opinion as to (i) any law, rule or regulation that is applicable to JPMorgan Financial or JPMorgan Chase & Co., the indenture, the securities, the related guarantee (together with the indenture and the securities, 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. |

---

April 2026 Page 19

JPMorgan Chase Financial Company LLC

Enhanced Trigger Jump Securities Based on the Worse Performing of the S&P 500<sup>®</sup> Index and Russell 2000<sup>®</sup> Index due August 4, 2027

**Principal at Risk Securities**

---

| | |
|:---|:---|
| **Where you can find more information:** | 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 securities 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 securities 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 securities 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 securities.<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. |

---

April 2026 Page 20

## Ex-Filing

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

---

| |
|:---|
| &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**  |

---

The maximum aggregate offering price of the securities to which the prospectus relates is $10,817,000. The prospectus is a final prospectus for the related offering.