JPMorgan Chase & Co. 424B Filings

JPMorgan Chase & Co. provides an index supplement for notes linked to the proprietary J.P. Morgan Kronos+ SM Index, including hypothetical backtested and actual historical monthly and annual returns from July 7, 1954 through June 30, 2026. The index was established on December 22, 2020 and is calculated using the current methodology, with performance figures before that date derived from hypothetical backtests. The index level reflects an annual fee of 0.95% and may also incorporate a notional financing cost based on the Effective Federal Funds Rate. Disclosures emphasize that past and backtested performance are not indicative of future results, that backtests have inherent limitations, and that alternative simulations could yield materially different outcomes. Key risks include the sponsor’s ability to adjust the index, strategy-specific risks (turn-of-month, option expiry momentum, mean reversion), potential periods when the index is uninvested in its constituent, and the index’s limited operating history. The notes are not bank deposits, are not insured by the FDIC or any governmental agency, and are not obligations of, or guaranteed by, a bank.

J.P. Morgan describes the J.P. Morgan Tactical Blend Index, which underlies notes offered under an existing prospectus suite, and provides a long history of hypothetical backtested and more recent actual monthly and annual returns and allocation weights among currency, bond and equity basket constituents.

Backtested performance uses alternative or proxy data for certain constituents prior to specific launch and liquidity dates, then hypothetical performance based on actual constituents through March 29, 2023, and actual index performance from March 30, 2023 to June 30, 2026. The index is calculated on an excess return basis over the US Fed Funds Effective Rate and is reduced by a 0.85% per annum daily deduction.

Risk disclosures highlight that results are hypothetical for long periods, the index has a limited live history, may be significantly uninvested, may be heavily influenced by its equity constituent, seeks but may not achieve target volatility or risk-parity, and uses a momentum-based rebalancing methodology. The notes linked to the index are not bank deposits, are not insured by the FDIC or any government agency, and are not approved or disapproved by the SEC or state regulators.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the common stock of Sandisk Corporation, due July 26, 2029. The notes pay a Contingent Interest Rate of at least 39.50% per annum, credited monthly when Sandisk’s share price on a Review Date is at or above 60.00% of the Initial Value, and any missed coupons are paid later if the barrier is subsequently met. The notes may be automatically called starting on January 22, 2027 if Sandisk’s share price on a Review Date (other than the first through fifth and final Review Dates) is at or above the Initial Value, returning $1,000 plus due coupons. If not called and the Final Value is at or above 50.00% of the Initial Value, principal is repaid at maturity plus any due contingent interest; if below 50.00%, repayment is reduced one-for-one with the stock decline, potentially to zero. The notes are unsecured obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., with an indicative estimated value of about $920 per $1,000 note, not less than $880 when set, and will not be listed on any exchange.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $1,000 Enhanced Jump Securities with Auto-Callable Feature linked to the worst performing of Bloom Energy, GE Vernova and Vertiv Holdings Class A common stocks. The notes pay no coupons and may auto-redeem on any of 12 observation dates through July 10, 2028 if each stock closes at or above its initial price, returning the $1,000 principal plus an early redemption amount targeting at least approximately 89.00% per annum (from at least $1,890 on the first determination date up to at least $2,705.8333 on the twelfth). If not called and, at maturity, each stock is at or above 50% of its initial price (its downside threshold), investors receive a maturity redemption payment corresponding to at least approximately 89.00% per annum, or at least $2,780.00 per $1,000. If any stock finishes below its downside threshold, the payoff equals $1,000 times the worst stock’s performance factor, resulting in less than 50% of principal and possibly zero. The estimated value, if priced on the indicated date, is $893.40 per $1,000, and will not be less than $880.00.

JPMorgan provides a performance update for the J.P. Morgan Kronos+ SM Index, which offers dynamic uninvested, fully invested or 2x leveraged exposure to the S&P 500® Price Index using turn-of-month, options-expiry momentum and month-end mean reversion strategies. The index does not reflect dividend reinvestment and is reduced by a 0.95% per annum fee and, when leveraged, a notional financing cost tied to the Effective Federal Funds Rate.

The index was established on December 22, 2020, with historical data from June 2016 to December 2020 based on hypothetical backtesting of S&P 500® performance. Over the 10-year period through June 2026, the Kronos+ index shows a Sharpe Ratio of 0.76, 10-year annualized volatility of 25.60% and a 10-year annualized return of 19.42%, compared with the S&P 500® Sharpe Ratio of 0.75, volatility of 18.10% and return of 13.58%. Annual returns range from 100.70% in 2020 to -37.08% in 2022. The disclosure emphasizes that past and backtested performance are not indicative of future results and highlights multiple risks, including strategy-specific risks, JPMorgan affiliate roles, index fee and financing costs, and the synthetic, notional nature of the index.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable accelerated barrier notes linked to the S&P 500® Futures Excess Return Index, maturing on July 22, 2032. Each note has a $1,000 denomination, with an estimated value of approximately $976.70 per $1,000 at launch and a minimum estimated value of $900.00 per $1,000.

The notes may be automatically called on July 23, 2027 if the Index is at or above a Call Value, paying $1,000 plus a Call Premium Amount of at least $204.50 per note. If not called, at maturity investors receive 2.00 times any Index appreciation above the Initial Value, principal back if the Final Value is at or above a Barrier Amount equal to 65.00% of the Initial Value, and a 1:1 loss of principal if the Final Value is below the Barrier Amount. The notes pay no interest, are unsecured and unsubordinated, and expose holders to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. They are not listed, may have limited liquidity, and secondary prices are expected to be below the issue price.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering callable notes maturing on July 15, 2031. The notes pay quarterly interest in arrears at a variable rate tied to the 10-Year Constant Maturity Treasury Rate (the Reference Rate). For each Interest Period, the rate equals the Interest Factor (at least 6.40% per annum, finalized on the trade date) multiplied by the fraction of days in the period when the Reference Rate is less than or equal to a 5.50% Reference Rate Barrier; on days above the barrier, interest accrues at 0.00%.

Interest is paid on the 15th of January, April, July and October of each year, beginning October 15, 2026. The issuer may redeem the notes in whole, but not in part, on the 15th of January, April, July and October from July 15, 2027 through April 15, 2031 at par plus accrued interest. If not called, investors receive principal plus any accrued interest at maturity. The estimated value is approximately $973 per $1,000 note, and will not be less than $960 per $1,000 when set, reflecting embedded costs and hedging. There is significant tax and valuation complexity, including potential treatment as variable rate or contingent payment debt instruments.

J.P. Morgan provides an update on the J.P. Morgan Large-Cap Dynamic Blend 3 Index, showing hypothetical backtested monthly and annual returns from July 25, 1990 through March 22, 2021 and actual index performance from March 23, 2021 through June 30, 2026. The index, established on March 23, 2021, targets a volatility of 3.0% and is calculated on an excess return basis that reflects a 0.95% per annum daily fee deduction. It uses notional exposures to equity and bond futures-based Portfolio Constituents, which themselves were established on December 22, 2020.

The disclosure highlights numerous risks, including limited operating history, dynamic daily rebalancing, periods when the index may be partially uninvested, correlation risks between Portfolio Constituents, futures-specific risks (margin, roll returns, trading disruptions) and credit risk of JPMorgan Financial and JPMorgan Chase & Co. It emphasizes that historical and backtested performance, which may rely on proxy data and modeling assumptions, is hypothetical and not indicative of future results, and stresses that suitability must be assessed for each investor.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Medium-Term Notes, Series A, Capped Buffered Enhanced Participation Basket-Linked Notes due August 2, 2028. Each note has a $1,000 principal amount, bears no interest, and is linked to an unequally weighted basket of five equity indices: EURO STOXX 50® (40%), TOPIX® (25%), FTSE® 100 (17%), Swiss Market Index (11%) and S&P/ASX 200 (7%).

The initial basket level is set to 100. At maturity, investors receive $1,000 plus 1.5 times any positive basket return, capped at a maximum settlement amount expected between $1,375.90 and $1,441.00 per $1,000. A 10% downside buffer applies: if the basket falls up to 10%, principal is returned; below that, losses are magnified by a buffer rate of about 1.1111, and investors can lose their entire investment.

The notes are not listed, have no early redemption, and any payment depends on the credit of both JPMorgan Financial and JPMorgan Chase & Co. The original issue price is 100% of principal, but the estimated value is expected between $964.20 and $974.20 per $1,000, reflecting embedded costs and hedging. Secondary market values may be lower and are influenced by internal funding rates and market factors.

The J.P. Morgan Dynamic Blend Index allocates between an Equity Constituent (J.P. Morgan US Large Cap Equities Futures Index) and a Bond Constituent (J.P. Morgan 2Y US Treasury Futures Index) using a rules-based process that targets 3.0% volatility. The index is calculated on an excess-return basis and is subject to a 0.95% per annum daily deduction, so performance reflects this ongoing fee.

The index began on March 23, 2021, with backtested data shown from June 2016 and actual performance from March 23, 2021 through June 30, 2026. Comparative hypothetical portfolios (Domestic and Global 20/80 equity/bond mixes) are provided solely as reference benchmarks, with all of their returns also shown on an excess-return basis. Over the 10-year period presented, the index shows an annualized return of 0.50% with annualized volatility of 3.10%, corresponding to a Sharpe Ratio of 0.16.

The materials stress that past and especially hypothetical backtested performance are not indicative of future results. Numerous risks are highlighted, including index sponsor conflicts (JPMS can adjust methodologies), limited operating history, derivative and fixed-income risks, correlation risks between constituents, potential uninvested index portions earning no return, and the credit risk of JPMorgan Financial and JPMorgan Chase & Co. The notes linked to the index are unsecured, are not bank deposits, and are not FDIC insured.

JPMorgan Chase Financial Company LLC is offering $5,440,000 of Series A Medium-Term Digital Equity Notes due August 11, 2027, linked to the S&P 500 Index and fully and unconditionally guaranteed by JPMorgan Chase & Co. Each note has a $1,000 principal amount, is issued at 100.00% of principal with no underwriting commission, and does not bear interest.

The payoff depends on the S&P 500 performance from the trade date on July 8, 2026 to the determination date on August 9, 2027. The initial underlier level is 7,482.71. If the final index level is at least 90.00% of the initial level (the threshold level), investors receive a fixed threshold settlement amount of $1,106.10 per $1,000 note, corresponding to a capped return at 110.61% of principal. If the index falls more than 10%, principal is lost on a leveraged basis at a buffer rate of approximately 1.1111% for each additional 1% decline, down to zero, so investors can lose their entire investment. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co., will not be listed, have no redemption feature, and have an estimated value at pricing of $996.60 per $1,000 note, reflecting structuring and hedging costs. U.S. tax treatment is based on treating the notes as prepaid financial contracts, with acknowledged uncertainty and potential future regulatory changes.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing Auto Callable Contingent Interest Notes linked to the common stock of Amazon.com, Inc. Each note has a $1,000 principal amount and offers quarterly contingent interest payments of $29.425 per $1,000, but only if Amazon’s share price on the relevant Review Date is at or above the Interest Barrier.

The Stock Strike Price is $245.98, with an Interest Barrier and Buffer Threshold of $184.485 (75.00% of the strike). The notes may be automatically called on any non-final Review Date if Amazon’s closing price is at or above the Stock Strike Price, in which case investors receive $1,000 plus the applicable contingent interest and any unpaid prior contingent interest.

If the notes are not called and a Buffer Event occurs at maturity (Final Stock Price below the Buffer Threshold), investors lose 1.33333% of principal for every 1% decline beyond the 25.00% buffer, according to $1,000 + [$1,000 × (Stock Return + 25.00%) × 1.33333]. The notes price at $1,000 with dealer fees of $10 per note and total proceeds of $737,550 on $745,000 of issuance; the initial estimated value is $984.10 per $1,000.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Trigger Autocallable Contingent Yield Notes linked to the Class A common stock of Palantir Technologies Inc. The Notes have a $10 principal amount, an expected term of about one year, and pay quarterly contingent coupons at a rate expected to be at least 18.00% per annum if Palantir’s share price on an Observation Date is at or above a specified Coupon Barrier.

The Initial Value is the closing price of one share of Palantir on July 9, 2026, set at $129.04. The Downside Threshold and Coupon Barrier are both $64.52, equal to 50.00% of the Initial Value. The Notes are automatically called, returning principal plus the applicable coupon, if on any quarterly Observation Date the share price is at or above the Initial Value. If the Notes are not called and the Final Value is below the Downside Threshold, investors receive $10 × (1 + Underlying Return), resulting in a loss proportionate to the share price decline, up to a complete loss of principal.

The price to the public is $10 per Note, including selling commissions of $0.15 per Note to UBS Financial Services Inc., for net proceeds of $9.85 per Note to the issuer. The estimated value, based on JPMorgan’s internal models, would be approximately $9.771 per $10 Note if priced on the described date and will not be less than $9.40 per $10 at pricing. Payments depend on the credit of both JPMorgan Chase Financial Company LLC and JPMorgan Chase & Co., and the Notes will not be listed on any securities exchange.

JPMorgan Chase Financial Company LLC is offering unsecured Callable Contingent Interest Notes due June 22, 2028, linked to the least performing of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay monthly Contingent Interest at a rate of at least 9.25% per annum (at least 0.77083% per month) only when the closing level of each index on a Review Date is at or above 70.00% of its Initial Value (the Interest Barrier). The issuer may redeem the notes early, in whole, on any Interest Payment Date from October 21, 2026 (excluding the first, second and final dates), paying $1,000 plus the applicable Contingent Interest.

If not redeemed early, at maturity investors receive $1,000 plus the final Contingent Interest if the Final Value of each index is at or above its 80.00% Buffer Threshold. If any index ends below this level, principal is reduced by 1% for each 1% decline beyond the 20.00% Buffer Amount, up to an 80.00% loss of principal. The estimated value is currently about $981.50 per $1,000 note and will not be less than $900.00 when set. Payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., and the notes will not be listed.

JPMorgan Chase Financial Company LLC is offering Auto Callable Buffered Equity Notes linked to the S&P 500® Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about July 15, 2026, settle on or about July 20, 2026 and mature on July 18, 2031, in minimum denominations of $1,000.

The notes may be automatically called on July 21, 2027 if the S&P 500® closing level is at or above a specified Call Value, paying $1,000 plus a Call Premium Amount of at least $80.00 per note, with no further payments. If not called, at maturity investors receive uncapped, unleveraged upside equal to the Index Return when the Final Value exceeds the Initial Value, return of principal if the Index is flat or down by up to the 30.00% Buffer Amount, and a loss of 1% of principal for each 1% Index decline beyond that buffer, up to a 70.00% maximum loss.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Financial and are subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. If priced on the date of the example, the estimated value would be approximately $974.30 per $1,000 note, and when finally set will not be less than $900.00 per $1,000 note; this is below the issue price because it reflects selling commissions, hedging costs and an internal funding rate. The S&P 500® closing level on July 8, 2026 was 7,482.71.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing structured Review Notes linked to the MerQube US Tech+ Vol Advantage Index, with automatic call features through July 21, 2031.

The notes may be automatically called on scheduled Review Dates starting July 20, 2027 if the Index is at or above 100% of its Initial Value, paying $1,000 plus a Call Premium Amount that starts at at least 25.300% of principal and increases over time. If not called and the Final Index Value is at or above 50% of the Initial Value, holders receive principal at maturity; if it is below 50%, repayment is $1,000 plus $1,000 multiplied by the Index return, exposing investors to losses greater than 50% and up to total loss of principal.

The Index includes a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ-based exposure, which will generally drag performance and cause it to trail an otherwise similar index without such deductions. The minimum denomination is $1,000, and an indicative estimated value is approximately $936.40 per $1,000 principal, not less than $900. The notes pay no interest or dividends and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co.; they will not be listed, and liquidity may be limited.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Uncapped Dual Directional Accelerated Barrier Notes linked to the worst performer of the Nasdaq-100 Index®, the Russell 2000® Index and the S&P 500® Index, maturing on July 27, 2028.

Each $1,000 note provides at maturity: (1) if all indices finish above their initial levels, an uncapped gain equal to 1.26 times the return of the least performing index; (2) if any index is at or below its initial level but all are at or above 70.00% of their initial levels (the Barrier Amount), a positive, uncapped payoff equal to the absolute percentage loss of the least performing index, up to 30.00% (maximum $1,300 per $1,000 note); and (3) if any index ends below its 70.00% barrier, a dollar-for-dollar loss in line with the decline of the least performing index, down to a total loss of principal.

The notes pay no interest or dividends, are not FDIC insured, and carry the credit risk of JPMorgan Financial and JPMorgan Chase & Co. If priced today, the estimated value would be about $980.10 per $1,000 note and will not be less than $900.00 per $1,000 at pricing, reflecting embedded fees, hedging costs and dealer compensation.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $900,000 of Auto Callable Contingent Interest Notes linked to the common stock of Broadcom Inc. These $1,000-denomination notes pay a contingent quarterly interest of $40.175 per $1,000 only if Broadcom’s share price on the relevant Review Date is at or above the Interest Barrier of $250.2765, equal to 67.50% of the Stock Strike Price of $370.78. The notes may be automatically called on any non-final Review Date if Broadcom closes at or above the Stock Strike Price, returning $1,000 plus the applicable contingent interest and any unpaid prior contingent interest. At maturity on July 23, 2027, if not called and no Buffer Event has occurred (Final Stock Price at or above the Buffer Threshold of $250.2765), investors receive $1,000 plus the final contingent interest and any unpaid amounts. If a Buffer Event occurs, principal is reduced using a downside leverage factor of 1.48148, so investors lose some or all principal. The price to public is $1,000 per note; underwriting fees are $10 per note and proceeds to the issuer are $990. The estimated value at pricing was $983.60 per $1,000 note.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $8,805,000 of Auto Callable Contingent Interest Notes linked individually to the S&P 500 Index, Nasdaq‑100 Index and iShares Russell 2000 ETF, maturing on April 12, 2027. The notes pay a monthly Contingent Interest Payment of $9.7083 per $1,000 (a rate of 8.7375% over the term) only if on a Review Date each underlying is at or above 82.50% of its Strike Value, and may be automatically called as early as August 7, 2026 if each underlying is at or above its Strike Value. Principal is protected only by a 17.50% buffer; below that level at maturity, losses increase at a 1.21212x Downside Leverage Factor based on the worst-performing underlying, and investors can lose some or all principal. The notes are unsecured, unsubordinated obligations subject to the credit risk of both the issuer and guarantor, carry no dividends or fixed interest, are not exchange-listed, and were sold at $1,000 per note with an estimated value of $988.10.

JPMorgan Chase Financial Company LLC is issuing $100,000 of unsecured, auto callable contingent interest notes linked to the least performing of the S&P 500 Index, iShares Russell 2000 ETF and State Street Health Care Select Sector SPDR ETF, fully and unconditionally guaranteed by JPMorgan Chase & Co.

The notes pay a Contingent Interest Rate of 6.75% over the term (0.75% per month, $7.50 per $1,000) only on Review Dates when each underlying closes at or above its Interest Barrier of 83.00% of its Strike Value, and may pay no interest at all. They are automatically called on any non‑final Review Date from August 7, 2026 onward if each underlying is at or above its Strike Value, returning $1,000 plus that period’s interest.

If not called and the final value of any underlying is below its Buffer Threshold (83% of Strike), maturity payment is reduced using a 17% buffer and a Downside Leverage Factor of 1.20482, so investors can lose some or all principal. The estimated value is $989.20 per $1,000 note, reflecting structuring and hedging costs. The notes are not listed, are subject to JPMorgan credit risk and carry complex tax and sector‑specific risks.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering Auto Callable Contingent Interest Notes linked individually to the common stock of Advanced Micro Devices, NVIDIA and Tesla, maturing on January 21, 2028, in $1,000 minimum denominations.

The notes pay a monthly Contingent Interest Coupon at a rate of at least 31.00% per annum (2.58333% per month) only when the closing price of one share of each reference stock is at or above 60.00% of its Initial Value (the Interest Barrier) on the relevant review date; missed coupons can be paid later if conditions are met. Starting with the October 16, 2026 review date, the notes are automatically called if each stock is at or above its Initial Value, returning $1,000 plus due coupons.

If the notes are not called, principal repayment at maturity depends on the least performing stock. If each final stock value is at or above its Trigger Value (50.00% of Initial Value), investors receive full principal plus any due coupons; if any final value is below its Trigger Value, repayment is $1,000 plus $1,000 times the Least Performing Stock Return, leading to loss of more than half, and possibly all, principal. The estimated value is approximately $974.40 per $1,000 note today and will not be less than $900.00 per $1,000 at pricing. The notes are unsecured obligations subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co. and will not be listed or pay dividends on the underlying stocks.

JPMorgan provides an index supplement describing the MerQube US Tech+ Vol Advantage Index, used as the reference for certain structured notes. The index shows hypothetical backtested monthly and annual returns from January 7, 2005 through June 21, 2021 and actual index performance from June 22, 2021 through June 30, 2026. Annual returns in this period range from losses such as -47.20% in 2008 to gains such as 84.72% in 2016 and 77.22% in 2013. The index level includes a 6.0% per annum daily deduction and a notional financing cost. It was established on June 22, 2021, and on February 9, 2024, the Invesco QQQ Trust, Series 1 replaced E‑Mini Nasdaq‑100 futures as the underlying asset. The text emphasizes that all backtested results are hypothetical, subject to significant limitations, and that past and backtested performance are not indicative of future results, highlighting numerous risks including leverage, volatility drag, and potential index adjustments.

J.P. Morgan provides a performance update for the MerQube US Tech+ Vol Advantage Index, a rules-based index used with certain structured notes. The index offers dynamic exposure to an underlying asset, currently an unfunded position in the Invesco QQQ Trust, Series 1, targeting a level of implied volatility with exposure ranging from 0% to a maximum of 500% of the underlying.

The index is subject to a 6.0% per annum daily deduction, and the underlying asset’s performance is further reduced by a daily notional financing cost. Historical information combines hypothetical backtested levels before June 22, 2021 with actual levels thereafter, with extensive warnings that backtested and past performance are not indicative of future results. Key risks highlighted include leverage, volatility drag, potential for the index to be significantly uninvested, the change of underlying from E‑Mini Nasdaq‑100 futures to QQQ in February 2024, and the possibility that the index and QQQ may not match their reference benchmarks. The notes linked to the index are unsecured investments, not bank deposits or FDIC‑insured, and may not be suitable for all investors.

JPMorgan Chase Financial Company LLC is offering unsecured, unsubordinated Auto Callable Contingent Interest Notes linked to the MerQube US Tech+ Vol Advantage Index, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about July 16, 2026, settle on or about July 21, 2026 and mature on July 21, 2031, in minimum denominations of $1,000.

Investors may receive a Contingent Interest Payment on each monthly Interest Review Date only if the Index closing level is at least 60.00% of the Initial Value, the Interest Barrier. The notes are automatically called on any quarterly Autocall Review Date if the Index is at or above the Initial Value, with the earliest possible call on January 19, 2027; upon an automatic call, investors receive $1,000 per note plus the relevant contingent interest and no further payments.

If the notes are not called and the Final Value is below the Trigger Value, set at 60.00% of the Initial Value, principal is exposed one-for-one to Index losses and investors can lose a significant portion or all of their investment. The Index itself is subject to a 6.0% per annum daily deduction and a daily notional financing cost (SOFR plus 0.50% per annum) on its QQQ Fund exposure, uses up to 500% leverage to target 35% implied volatility, and will generally underperform an identical index without such deductions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing structured notes due July 25, 2031 linked to the least performing of the Dow Jones Industrial Average, Russell 2000 Index and S&P 500 Index. The notes may be automatically called on annual review dates starting July 26, 2027 if each index is at or above its Call Value (100% of its Initial Value), paying $1,000 plus a Call Premium Amount of at least 9.50%, rising to at least 47.50% on the final review date.

If not called, principal is protected at maturity only if the Final Value of each index is at or above its Barrier Amount, set at 70.00% of its Initial Value; otherwise repayment is $1,000 plus $1,000 times the return of the Least Performing Index, creating downside exposure that can result in a total loss of principal. The notes pay no interest or dividends and are unsecured obligations subject to the credit risk of both issuers. The indicative estimated value is approximately $933.30 per $1,000 note and will not be less than $900.00, reflecting selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is issuing callable structured notes linked to the MerQube US Tech+ Vol Advantage Index, maturing on July 25, 2031, in minimum denominations of $1,000.

The notes can be automatically called on any of 17 Review Dates starting July 27, 2027 if the Index is at or above the Call Value (100% of the Initial Value). Investors then receive $1,000 plus a Call Premium Amount that starts at 19.60% of principal on the first Review Date and rises in steps up to 98.00% on the final Review Date.

If never called, principal is protected only by a 15.00% Buffer Amount. If the Final Value is below the Initial Value by more than 15%, the payoff equals $1,000 + [$1,000 × (Index Return + 15%)], so investors may lose up to 85.00% of principal.

The Index embeds a 6.0% per annum daily deduction and a daily notional financing cost on its QQQ Fund exposure, and can use leverage up to 500%. These structural charges are described as a material drag on index performance. The estimated value is indicated at $905.20 per $1,000 note, and will not be less than $900.00 when set, highlighting embedded fees and hedging costs.

JPMorgan Chase Financial Company LLC is offering Digital Barrier Notes linked to the lesser performing of the S&P 500 Index and the Dow Jones Industrial Average, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are expected to price on or about July 14, 2026 and mature on July 14, 2031.

For each $1,000 note, if on the observation date the final level of each index is at least 70% of its strike value, investors receive $1,000 plus a fixed Contingent Digital Return of at least 46%. If either index finishes below its 70% barrier, the payout is $1,000 plus the return of the lesser performing index, so investors lose 1% of principal for each 1% decline of that index and can lose their entire investment.

The notes pay no interest, provide no dividends, are unsecured and unsubordinated obligations of JPMorgan Financial and are not listed on any exchange, so secondary liquidity may be limited. The estimated value is about $980 per $1,000 at launch and will not be less than $950, reflecting selling commissions, hedging costs and issuer funding assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering structured Digital Barrier Notes linked to the least performing of the Dow Jones Industrial Average, the Russell 2000 Index and the Nasdaq-100 Index, maturing on August 19, 2027. The notes pay no interest or dividends and expose holders to issuer and guarantor credit risk. At maturity, investors receive a fixed return of at least 17.50% per $1,000 note if the final level of each index is at or above its initial level. If any index finishes below its initial level but at or above 60.00% of its initial level (the Barrier Amount), investors receive only their principal. If any index closes below its 60.00% barrier, repayment is fully exposed to the downside of the least performing index, and investors can lose more than 40.00% and up to all of their principal. The estimated value, if priced on the described date, would be approximately $986.40 per $1,000 note and will not be less than $900.00, reflecting selling commissions of up to $7.25 and hedging and structuring costs.

JPMorgan Chase Financial Company LLC is offering auto callable contingent interest notes linked to Vertiv Holdings Co Class A common stock, fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes pay a monthly Contingent Interest Payment only if Vertiv’s share price on a Review Date is at or above an Interest Barrier equal to 50.00% of the Initial Value; missed coupons can be paid later if conditions are met.

The notes may be automatically called on specified Review Dates starting on January 22, 2027 if Vertiv’s share price is at or above the Initial Value, returning $1,000 principal plus the applicable coupon and any unpaid coupons, with no further payments. If not called and the Final Value is at or above a Trigger Value equal to 50.00% of the Initial Value, investors receive $1,000 plus all due and unpaid coupons; if the Final Value is below the Trigger Value, repayment is $1,000 plus $1,000 × Stock Return, exposing investors to losses up to 100% of principal.

The notes have minimum denominations of $1,000. A hypothetical Contingent Interest Rate of 22.00% per annum (1.83333% per month) is used in payout examples, and the estimated value is expected to be approximately $970.00 per $1,000 principal amount, not less than $950.00. Investors face issuer and guarantor credit risk, no dividends on Vertiv shares, limited liquidity, and complex U.S. tax treatment.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $404,000 of Uncapped Accelerated Barrier Notes linked to the lesser performer of Microsoft and Mastercard stock, maturing on July 12, 2029. The notes provide 2.60x leveraged upside if both stocks finish above their initial values, principal repayment if each stays at or above 70% of its Initial Value, and 1:1 downside exposure below that barrier based on the lesser-performing stock, with the potential for a total loss of principal. The notes pay no interest or dividends, are unsecured and unsubordinated obligations subject to the credit risk of both JPMorgan Financial and JPMorgan Chase & Co., and will not be listed on an exchange. The estimated value at pricing was $973.10 per $1,000 note, below the $1,000 issue price due to selling, structuring and hedging costs.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Structured Investments Review Notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100 Index® and the Russell 2000® Index, maturing on July 22, 2030.

The notes may be automatically called on annual Review Dates starting July 22, 2027 if each Index is at or above its Call Value of 100% of its Initial Value. In that case, investors receive $1,000 plus a Call Premium Amount of at least 13.20%, 26.40%, 39.60% or 52.80% of $1,000 for the first through final Review Dates, respectively, and no further payments.

If not called, and on the final Review Date each Index finishes at or above its Barrier Amount of 70% of its Initial Value, investors receive principal back at maturity. If any Index is below its Barrier Amount, the payoff is $1,000 plus $1,000 times the Least Performing Index Return, exposing investors to losses greater than 30% and potentially a total loss. The notes pay no interest or dividends, are not bank deposits, and carry the credit risk of both JPMorgan Financial and JPMorgan Chase & Co. The indicative estimated value is about $943.40 per $1,000 note and will not be less than $900.00 when set.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured auto callable contingent interest notes linked to the common stock of KLA Corporation. Each note has a $1,000 principal amount (minimum investment $10,000) and may pay a Contingent Interest Payment of at least $51.60 per $1,000 on each Interest Payment Date if KLA’s share price on the relevant Review Date is at or above the Interest Barrier of $114.76, equal to 50.00% of the Stock Strike Price of $229.52.

The notes are automatically called, returning $1,000 plus the applicable Contingent Interest Payment, if KLA’s share price on the first Review Date on October 9, 2026 is at or above the Stock Strike Price. If not called, and no Trigger Event has occurred (Final Stock Price below $114.76), investors receive $1,000 plus the final Contingent Interest Payment and any unpaid first coupon at maturity on January 14, 2027.

If a Trigger Event occurs and the notes are not called, principal is exposed to leveraged downside: investors lose 2.00% of principal for every 1% that the Final Stock Price is more than 50.00% below the Stock Strike Price, potentially losing all principal. The indicative estimated value is about $987.50 per $1,000 initially, with a minimum of $970.00 when finalized, reflecting structuring and distribution costs. All payments are subject to the credit risk of JPMorgan Financial and JPMorgan Chase & Co.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Capped Buffered Equity Notes linked to the PHLX Semiconductor Sector Index. Each $1,000 note provides unleveraged upside to the Index, subject to a Maximum Return of at least 38.00%, implying a maximum payment at maturity of at least $1,380.00 per $1,000 note.

The notes feature a 15.00% Buffer Amount, returning principal at maturity if the Index is flat or down by up to 15.00% from the Index Strike Level of 13,151.909 set on July 9, 2026. If the Index falls by more than 15.00%, principal losses increase at a Downside Leverage Factor of 1.17647, so investors may lose some or all of their investment at maturity on January 14, 2027, based on the January 11, 2027 valuation.

The notes pay no interest or dividends, are unsecured and unsubordinated obligations of JPMorgan Chase Financial, and all payments depend on the credit of both the issuer and guarantor. The estimated value would be approximately $994.80 per $1,000 note if priced on the described date and will not be less than $980.00 per $1,000 note, reflecting embedded costs and hedging assumptions.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured, unsubordinated callable contingent interest notes linked to the least performing of the Dow Jones Industrial Average®, the Nasdaq-100® Technology Sector and the Russell 2000® Index, maturing on July 19, 2029. The notes pay a monthly Contingent Interest Payment only if on a Review Date the closing level of each index is at or above its Interest Barrier, set at 75% of its Initial Value; otherwise no interest is paid for that period. If not called earlier, principal is protected only if on the final Review Date the level of each index is at or above its Trigger Value, 70% of its Initial Value; otherwise repayment is reduced in proportion to the decline of the least performing index, potentially to zero. The issuer may redeem the notes early on specified interest payment dates (earliest October 20, 2026), returning principal plus any due interest, ending further payments. The indicative Contingent Interest Rate is at least 13.65% per annum (1.1375% per month). The estimated value is about $965 per $1,000 note, and will not be less than $900, reflecting embedded fees, hedging costs and an internal funding rate. Investors face index, credit, liquidity, sector, small‑cap, non‑U.S. securities and tax risks.

JPMorgan Chase Financial Company LLC, guaranteed by JPMorgan Chase & Co., is offering Capped Dual Directional Contingent Buffered Equity Notes linked to the Nasdaq-100 Index. These notes provide equity-linked returns at maturity rather than periodic interest.

If the Index ends above the strike level, investors receive principal plus the index return, capped at a Maximum Upside Return of at least 12.56% per $1,000 note. If the Index ends below the strike but within a 25.00% Contingent Buffer Amount, investors earn the Absolute Index Return, up to a maximum payment of $1,250.00 per $1,000 note when the index decline does not exceed 25.00%. If the Index declines by more than 25.00%, repayment is fully exposed to losses, and investors may lose all principal.

The note is expected to price on or about July 10, 2026, with an original issue date on or about July 15, 2026, a valuation date of July 22, 2027, and maturity on July 27, 2027. An indicative estimated value is approximately $984.00 per $1,000 note and will not be less than $970.00 per $1,000 when finalized, reflecting embedded costs and dealer margins.

JPMorgan Chase & Co. provides an index supplement describing the J.P. Morgan Multi-Asset Index, which underlies certain structured notes. The document presents detailed hypothetical backtested monthly and annual returns from February 22, 1994 through November 17, 2022 and actual index performance from November 18, 2022 through June 30, 2026, along with the index’s historical asset-class weights.

The Index is an "excess return" benchmark composed of notional futures-based exposures across U.S. and non-U.S. equities, fixed income, commodities and FX, rebalanced under a rules-based momentum strategy and subject to a 1.00% per annum daily deduction. J.P. Morgan Securities LLC sponsors and calculates the Index and may adjust it under defined circumstances. The text emphasizes that all backtested results and past allocations—hypothetical or actual—are illustrative only and not indicative of future results, and it lists numerous risks, including strategy change risk, concentration in bond constituents, correlation and volatility regime risk, futures and roll risk, non-U.S. market and currency risk, and potential short-position and margin-impact risks. Notes linked to the Index are unsecured, not bank deposits, not FDIC insured and not guaranteed by any bank.

JPMorgan Chase & Co. provides an updated performance snapshot for the S&P® Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER, which aims to track the S&P® Global 100 Index while targeting 5% annualized volatility. The index deducts a notional financing cost based on the Effective Federal Funds Rate and a daily index fee equal to 0.50% per year, and is calculated on an excess return basis.

The update compares hypothetical and actual performance from June 2016 to June 2026 against two notional 30/70 stock-bond portfolios, showing a 10-year annualized return of 2.58% and 10-year annualized volatility of 4.21% for the index, with a Sharpe Ratio of 0.61. It highlights that much of the history is backtested before the index’s establishment on September 18, 2023, and stresses that past and backtested performance are not indicative of future results.

Key risks include the impact of the ongoing 0.50% annual index deduction and notional financing cost, potential failure to meet the 5% target volatility, dynamic rebalancing that may limit upside or magnify downside, and the possibility that the index may be significantly uninvested. The text also notes that JPMorgan Chase & Co. is one of the companies in the underlying S&P® Global 100 Index and directs investors to broader risk factor disclosures in related offering documents.

JPMorgan provides a July 2026 performance and risk update for the S&P 500® Daily Risk Control 5% Index, a volatility-target strategy that allocates between the S&P 500 and a cash component to target 5% volatility. Volatility is based on exponentially weighted historical returns, and the index is calculated on an excess return basis with a notional financing cost deduction.

From June 2016 through June 2026, the S&P 500 Daily Risk Control 5% Excess Return Index shows a Sharpe Ratio of 0.81, 10-year annualized volatility of 5.06%, and 10-year annualized return of 4.08%. Over one year, its return is 4.77%. This compares with the Domestic 30/70 Portfolio (ER), which has a Sharpe Ratio of 0.46, 10-year volatility of 6.41% and 10-year annualized return of 2.94%, and the Global 30/70 Portfolio (ER), with a Sharpe Ratio of 0.21, 10-year volatility of 6.22% and 10-year annualized return of 1.33%.

The update highlights that all portfolio performance data is partly hypothetical and that past and backtested performance are not indicative of future results. Key risks include the possibility that the index may not meet its 5% volatility target, may be significantly uninvested, and reflects a notional financing cost, with a recently changed methodology for that cost.

JPMorgan Chase & Co. provides an index supplement describing the S&P Global 100 PR 5% Daily Risk Control 0.5% Deduction Index (USD) ER, including hypothetical backtested and actual historical monthly and annual returns.

Backtested index performance uses constituent data from November 20, 1996 through September 17, 2023, while actual performance covers September 18, 2023 through June 30, 2026. The index level reflects a 0.50% per annum index deduction and a notional financing cost, both deducted daily.

Key risks highlighted include that the index may not outperform or underperform its underlying index, may not approximate its 5% target volatility, and may be significantly uninvested so that part of the index earns no return. JPMorgan Chase & Co. is one of the companies in the underlying index. All historical and backtested performance and allocations are emphasized as not indicative of future results.

JPMorgan Chase & Co. provides an index supplement describing the S&P 500^® Daily Risk Control 10% Index, including hypothetical backtested returns from December 31, 1998 through May 12, 2009 and actual index performance from May 13, 2009 through June 30, 2026. The index targets 10% volatility by adjusting daily exposure to the S&P 500, and its level reflects a deduction for a notional financing cost.

The material emphasizes that historical and backtested returns are hypothetical, based on current index methodology and, at times, proxy constituents. It highlights risks such as the index potentially failing to approximate its 10% volatility target, being significantly uninvested so part of it earns no return, and daily exposure adjustments that can limit upside or magnify downside moves relative to the underlying S&P 500. It also notes JPMorgan is one of the companies in the underlying index and that the methodology for calculating notional financing cost was recently changed, urging investors to review broader risk factor disclosures and stressing that past and backtested performance are not indicative of future results.

JPMorgan provides a July 2026 performance update for the S&P 500 Daily Risk Control 10% Index, which dynamically shifts between S&P 500 exposure and a cash component to target 10% volatility. The index is calculated on an excess return basis and was established on May 13, 2009.

From June 2016 through June 2026, the index shows a 10-year annualized return of 7.95% with 10-year annualized volatility of 10.09%, producing a Sharpe Ratio of 0.79. Over the same 10-year period, a Domestic 30/70 Portfolio (30% S&P 500, 70% U.S. Aggregate bonds, excess return) had a 10-year annualized return of 8.40% and volatility of 12.70% (Sharpe Ratio 0.66), while a Global 30/70 Portfolio (30% MSCI ACWI, 70% global investment-grade bonds, excess return) had a 10-year annualized return of 6.17% and volatility of 10.59% (Sharpe Ratio 0.58).

The update includes detailed monthly and annual returns for 2017 through mid‑2026 and notes that all Domestic and Global 30/70 portfolio performance is hypothetical. It highlights selected risks, including that the index may not meet its 10% volatility target, may underperform the underlying S&P 500, can be significantly uninvested, and reflects a deduction for a notional financing cost. Past and backtested performance are explicitly stated as not indicative of future results.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering $500,000 of unsecured Contingent Interest Notes linked to the least performing of the S&P 500 Index, Dow Jones Industrial Average and Russell 2000 Index, maturing on July 13, 2028.

The notes pay a monthly Contingent Interest Payment of $7.25 per $1,000 (an annualized 8.70%) for each Review Date on which the closing level of every index is at or above 70% of its Initial Value; otherwise no interest is paid for that period. At maturity, if each index is at or above its 70% Trigger Value, holders receive principal plus the final contingent interest; if any index is below its Trigger Value, repayment is reduced by the full percentage decline of the worst-performing index, exposing investors to losses greater than 30% and up to a total loss of principal.

The notes are not principal-protected, will not be listed, and their value and payments depend on the credit of JPMorgan Financial and JPMorgan Chase & Co., as well as equity market performance. The estimated value at pricing was $990.90 per $1,000 note, below the $1,000 public issue price due to embedded selling, structuring and hedging costs.

JPMorgan Chase & Co. provides an index supplement detailing hypothetical backtested and actual historical monthly and annual returns for the S&P 500 Daily Risk Control 5% Index. Backtested performance covers January 4, 1999 to September 9, 2009, and actual index performance runs from September 10, 2009 to June 30, 2026.

The material emphasizes that past and backtested results are not indicative of future performance and explains that some backtests use proxy constituents. It highlights key risks, including that the index may not approximate its 5% target volatility, can be significantly uninvested, and reflects deductions for a notional financing cost, whose calculation methodology was recently changed. JPMorgan notes it is one of the companies in the underlying index and stresses that investment suitability must be assessed individually.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering unsecured Auto Callable Contingent Interest Notes linked individually to the Nasdaq-100 Index, the Russell 2000 Index and the S&P 500 Index, maturing on June 22, 2028, in minimum denominations of $1,000.

Holders receive a Contingent Interest Payment for each Review Date on which the closing level of each Index is at or above 70.00% of its Initial Value (the Interest Barrier). Starting with the sixth applicable Review Date, the notes are automatically called if the closing level of each Index is at or above its Initial Value, paying $1,000 plus the contingent interest for that date and ending further payments.

If the notes are not called and, on the final Review Date, any Index is below its Trigger Value (70.00% of Initial Value), repayment of principal is reduced 1% for each 1% decline of the Least Performing Index, down to a total loss of principal. The notes do not pay fixed interest, do not provide any upside participation in the Indices, and offer no dividends or listing. The estimated value is indicated as approximately $959.70 per $1,000 note if priced on the described date and will not be less than $900.00 per $1,000 note, reflecting embedded selling and hedging costs. Payments are subject to the credit risk of both the issuer and guarantor.

JPMorgan provides an index supplement describing the MerQube US Small-Cap Vol Advantage Index, used for notes registered under Rule 424(b)(3). The index combines futures exposure and volatility targeting, with historical figures split between hypothetical backtested performance from January 7, 2005 to June 17, 2022 and actual index performance from June 21, 2022 to June 30, 2026.

The index was established on June 21, 2022 and includes a 6.0% per annum daily deduction, making it an excess return index that does not reflect interest on notional cash. Disclosures highlight risks such as leverage, volatility drag, small-cap equity exposure, potential underperformance versus its target volatility, and the possibility that the index may be significantly uninvested or affected by futures term structure and margin changes.

J.P. Morgan Securities LLC coordinated with MerQube in developing the index rules and licenses the index for use in notes but is not obligated to consider investors’ interests when making index-related judgments. The material stresses that backtested results are hypothetical, subject to modeling limitations and hindsight bias, and that past and simulated performance are not indicative of future results.

JPMorgan provides a performance update for the MerQube US Small-Cap Vol Advantage Index, a rules-based index offering dynamic exposure to E-Mini Russell 2000 futures while targeting 35% volatility. The index can adjust its futures exposure between 0% and 500% and applies a 6.0% per annum daily deduction to its level.

The index was established on June 21, 2022, with hypothetical backtested data shown from June 2016 alongside actual performance through June 2026. Over the past 10 years, the index shows annualized volatility of 31.50% and an annualized return of -0.07%, compared with the Russell 2000 at 22.26% volatility and 10.13% return. The 1-year return for the index is 42.25% versus 39.05% for the Russell 2000.

The update highlights that all pre‑June 2022 results are hypothetical backtests and stresses that both historical and backtested performance are not indicative of future results. It also outlines numerous risks, including leverage, volatility drag, small-cap exposure, futures market risks, and the potential impact of index and methodology adjustments by MerQube and J.P. Morgan.

JPMorgan Chase Financial Company LLC, fully guaranteed by JPMorgan Chase & Co., is offering auto callable contingent interest notes linked to the MerQube US Large-Cap Vol Advantage Index, maturing on October 18, 2030, in minimum denominations of $1,000. The notes pay a Contingent Interest Payment on each Review Date only if the Index closes at or above 70.00% of its Initial Value (the Interest Barrier), with any previously unpaid interest catching up when this condition is met. Beginning on July 15, 2027, the notes are automatically called if, on certain Review Dates, the Index is at or above its Initial Value, returning $1,000 plus the relevant interest and all unpaid contingent interest.

If the notes are not called and, on the final Review Date, the Index is at or above 60.00% of the Initial Value (the Trigger Value), investors receive $1,000 plus any due interest; if it is below 60.00%, repayment is reduced dollar-for-dollar with the Index decline, down to zero. The Index employs up to 500% futures exposure, targets 35% implied volatility, and is reduced by a 6.0% per annum daily deduction, which drags performance. If priced today, the estimated value would be $937.60 per $1,000 note and, when set, will not be less than $900. Investors face the risk of losing a significant portion or all principal, receiving no interest, exposure to leverage and futures-related effects, and the credit risk of both JPMorgan Financial and JPMorgan Chase & Co.

The MerQube US Large-Cap Vol Advantage Index is a rules-based index providing dynamic exposure to E‑Mini S&P 500^® futures while targeting 35% volatility. Exposure to the futures can range from 0% to 500%, and the index level reflects a 6.0% per annum daily deduction, reducing long-term returns.

From June 2016 to June 2026, the index showed a 10-year annualized return of 15.54% with annualized volatility of 29.75%, compared with the S&P 500 Index’s 13.58% return and 18.10% volatility over the same period. One-year return was 23.82% versus 20.86% for the S&P 500. Results combine hypothetical backtested performance before February 11, 2022 and actual performance thereafter.

The disclosure highlights extensive risks, including use of significant leverage, volatility drag, potential periods of being significantly uninvested, and the “excess return” structure that excludes any interest on notional cash. It stresses that historical and backtested results are hypothetical, have inherent limitations, and are not indicative of future results, and that notes linked to the index are unsecured, not bank deposits, and not FDIC insured.

JPMorgan Chase & Co. provides an index supplement for the J.P. Morgan Total Return^SM Index, used in registered offerings under Registration Statement Nos. 333-293684 and 333-293684-01. The material presents hypothetical backtested and actual historical monthly and annual returns from May 3, 2004 through June 30, 2026, together with corresponding historical portfolio weights.

The Index allocates among fixed-income and preferred-stock Basket Constituents, including U.S. Treasuries, investment-grade and high-yield credit, emerging markets debt, mortgage-backed securities, TIPS, floating-rate notes and preferred stock ETFs, subject to monthly rebalancing and weighting constraints. A historical volatility threshold of 5% is referenced. Before many ETFs existed or were liquid, performance was backtested using proxy bond indices with explicit annual expense haircuts.

The document stresses that both historical and backtested results and allocations are illustrative only and not indicative of future performance. It highlights risks from the momentum-based strategy, correlations among constituents, fixed-income and high-yield credit exposures, substitution of constituents after extraordinary events, the notional nature of the Index, potential conflicts as JPMS acts as Index Sponsor, and the credit risk of JPMorgan Financial and JPMorgan Chase & Co. on securities linked to the Index.