JPMorgan (NYSE: JPM) outlines complex risks in Kronos+ Index-linked notes

Rhea-AI Filing Summary

JPMorgan is offering notes linked to the J.P. Morgan Kronos+ SM Index under an effective shelf registration. The index combines hypothetical backtested performance, using the S&P 500 Price Return Index from July 7, 1954 to December 21, 2020, and actual index performance from December 22, 2020 to July 31, 2026. The materials stress that historical and backtested returns are not indicative of future results and that all simulations are illustrative with inherent limitations.

The index deducts a 0.95% per annum fee and may include a notional financing cost based on the Effective Federal Funds Rate. It employs turn-of-month, option expiry momentum and mean reversion strategies that are applied only during portions of each month, and the index may at times be uninvested in its constituent. J.P. Morgan Securities LLC acts as sponsor and calculation agent and can adjust the index, while JPMorgan Chase & Co. is itself a constituent, creating potential conflicts. The index was established on December 22, 2020 and is composed of notional assets and liabilities, not an actual portfolio. The notes are not bank deposits, not FDIC insured and not obligations of, or guaranteed by, a bank, and regulators have not approved or disapproved them.

Filing Explained

The August 2026 filing updates index materials but sets no note size, price, issuance, or proceeds, leaving the offering’s economics unsized.

This 424B3 is an index supplement and monthly update for notes linked to the J.P. Morgan Kronos+ SM Index, not a completed note transaction; it presents index materials and describes the information as being for discussion purposes only.

The filing does not state a note size, offering price, sale, issuance, or proceeds amount, so it does not establish the offering’s present economics or a new obligation to existing common holders.

A prospectus supplement states final terms for a specific takedown, while this document supplies index information and refers readers to the accompanying offering documents; it also says those offering documents govern if information conflicts.

The relevant pricing supplement or other offering document would be the named place to check for final note terms, including the size and price of any specific takedown.

Key Figures

Index fee: 0.95% per annum Index inception date: December 22, 2020 Backtest start date: July 7, 1954 +3 more

6 metrics

Index fee 0.95% per annum Annual fee deducted in calculating the J.P. Morgan Kronos+ SM Index level

Index inception date December 22, 2020 Date the J.P. Morgan Kronos+ SM Index was established

Backtest start date July 7, 1954 Start of S&P 500 Price Return Index data used for hypothetical backtested performance

Backtest end / actual start December 21–22, 2020 Backtested period ends December 21, 2020; actual index data starts December 22, 2020

Performance data through July 31, 2026 Latest date for actual J.P. Morgan Kronos+ SM Index performance shown

Registration Statement Nos. 333-293684 and 333-293684-1 Shelf registration numbers under which the notes are offered

Key Terms

hypothetical backtested performance, turn-of-month strategy, option expiry momentum strategy, mean reversion strategy, +2 more

6 terms

hypothetical backtested performance financial

"Historical performance measures for the Index represent hypothetical backtested performance"

turn-of-month strategy financial

"There are risks associated with the Index’s turn-of-month strategy."

option expiry momentum strategy financial

"There are risks associated with the Index’s option expiry momentum strategy."

mean reversion strategy financial

"There are risks associated with the Index’s mean reversion strategy."

Effective Federal Funds Rate financial

"a notional financing cost based on the Etfective Federal Funds Rate."

The effective federal funds rate is the average interest rate banks pay each other for overnight loans of reserve balances held at the central bank, calculated from actual transactions across the market. It matters to investors because it acts as a benchmark that helps set borrowing costs, loan and bond rates, and company financing expenses—like a thermostat for the price of short-term money that influences stock and bond valuations.

notional assets and liabilities financial

"The Index comprises notional assets and liabilities."

Offering Details

other

Offering

Offering Type other

FAQ

What is the J.P. Morgan Kronos+ SM Index described in JPM’s 424B3 filing?

The Kronos+ SM Index is a rules-based index sponsored by J.P. Morgan Securities LLC, with hypothetical backtested data from 1954–2020 and actual performance from December 22, 2020 to July 31, 2026, used as the underlying for issued notes.

How does JPM’s Kronos+ SM Index use hypothetical backtested performance?

Backtested results use S&P 500 Price Return Index data from July 7, 1954 to December 21, 2020, applying the current index methodology. The filing emphasizes that these hypothetical simulations have inherent limitations and are not indicative of future performance of notes linked to the index.

What fees apply to notes linked to JPM’s Kronos+ SM Index (JPM)?

The index level reflects deduction of a 0.95% per annum fee and, in some cases, a notional financing cost based on the Effective Federal Funds Rate. These embedded costs can reduce index levels and therefore the potential payouts on the linked notes.

What key risks are highlighted for investors in JPM’s Kronos+ SM Index notes?

Risks include J.P. Morgan Securities LLC acting as sponsor and calculation agent, the index’s complex turn-of-month, option expiry momentum, and mean reversion strategies, possible periods when it is uninvested, and sensitivity to the Effective Federal Funds Rate and methodology changes.

Are JPM’s Kronos+ SM Index-linked notes insured or approved by regulators?

No. The notes are not bank deposits, are not insured by the FDIC or any government agency, and are not obligations of, or guaranteed by, a bank. The SEC and state securities regulators have not approved or disapproved the notes or their offering documents.

When was the J.P. Morgan Kronos+ SM Index launched and what is its structure?

The index was established on December 22, 2020. It comprises notional assets and liabilities, meaning there is no actual portfolio of assets associated with it, and no person has a direct ownership interest in any underlying portfolio.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/08/2026 - 02:14 PM Accepted by SEC EDGAR 08/07/2026 - 05:30 PM Learn about SEC filing dates

Index supplement to the prospectus dated April 17, 2026, the prospectus supplement dated April 17, 2026, the product supplement no. 3 - I dated April 17, 2026 and the underlying supplement no. 6 - I dated April 17, 2026 Please refer to the “Selected Risks” and “Disclaimer” on the following page . Historical performance measures for the Index represent hypothetical backtested performance using the actual performance of the S&P 500 ® Price Return Index from July 7 , 1954 through December 21 , 2020 and the actual performance of the Index from December 22 , 2020 through July 31 , 2026 . Please see “Use of hypothetical backtested returns” at the end of this presentation for further information related to backtesting including a discussion of certain limitation of backtesting and simulated returns . Except as noted above and in the section entitled “Use of hypothetical backtested returns” at the end of this document, the hypothetical monthly and annual returns set forth above were determined using the methodology currently used to calculate the Index . PAST PERFORMANCE AND BACKTESTED PERFORMANCE ARE NOT INDICATIVE OF FUTURE RESULTS . Investing in the notes linked to the Index involves a number of risks . See “Selected Risks” on page 3 of this document, “Risk Factors” in the prospectus supplement and the relevant product supplement and underlying supplement and “Selected Risk Considerations” in the relevant pricing supplement . Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this document or the accompanying product supplement, underlying supplement, prospectus supplement or prospectus . Any representation to the contrary is a criminal otfense . The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank . Registration Statement Nos. 333 - 293684 and 333 - 293684 - 1 Dated August 10, 2026 Rule 424(b)(3) AUGUST 2026 J.P. Morgan Kronos+ SM Index Hypothetical and Actual Historical Monthly and Annual Returns  Backtested  Actual Year Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan 22.09% 8.28% 7.86% - 3.51% 9.79% - 3.15% 1.89% 1954 30.28% - 0.54% 8.52% - 8.74% 5.90% - 2.49% 6.02% 11.40% - 1.56% 7.59% 0.57% 1.66% 0.16% 1955 25.91% 7.06% 0.55% 0.93% - 5.11% - 4.71% 7.92% 4.53% - 5.93% 1.67% 11.80% 6.13% 0.11% 1956 1.75% - 3.48% 5.87% 4.60% - 6.09% - 5.33% 4.23% - 1.83% 7.10% 5.47% 4.58% - 8.22% - 3.49% 1957 49.12% 4.22% 4.71% 3.25% 3.90% - 0.01% 6.56% 3.02% 1.25% - 0.93% 8.18% - 0.14% 7.10% 1958 22.48% 3.95% 2.33% 3.61% - 1.13% - 0.60% 3.20% - 1.06% 0.94% 8.18% 1.70% - 1.77% 1.51% 1959 - 4.66% 4.44% 6.81% - 3.60% - 6.43% 2.69% - 0.48% 2.96% 3.08% 1.88% - 5.59% 0.27% - 9.44% 1960 43.21% 0.40% 6.01% 4.15% - 0.98% 5.67% 2.91% - 1.09% 5.16% - 1.24% 6.30% 2.83% 6.84% 1961 - 13.29% 3.03% 12.39% 2.38% - 5.99% 4.27% 8.15% - 7.51% - 12.18% - 13.06% - 0.71% 4.05% - 5.44% 1962 24.85% 2.24% - 3.66% 1.42% 0.40% 6.51% 4.37% - 3.61% 0.73% 6.31% 3.21% - 0.60% 5.73% 1963 17.79% - 0.75% 0.59% 1.67% 4.49% - 3.73% 4.97% - 1.91% 2.79% 3.18% 0.87% 0.58% 4.14% 1964 6.20% - 0.11% - 2.12% 2.98% 5.40% 1.40% 3.40% - 8.54% - 0.57% 4.08% - 3.48% 0.49% 3.98% 1965 - 18.97% - 0.68% - 1.84% - 0.81% - 2.24% - 5.19% 3.31% - 1.92% - 11.01% 5.39% - 6.39% 1.08% 0.55% 1966 24.48% 3.16% - 2.09% - 4.16% 5.49% - 0.86% 5.49% 3.52% - 9.44% 3.60% 6.95% 0.38% 11.78% 1967 3.76% - 7.90% 2.53% 4.23% 6.30% - 0.18% - 0.62% 2.89% 1.22% 8.48% 3.47% - 6.55% - 8.48% 1968 - 19.76% - 3.53% - 2.30% 4.64% - 6.94% 5.15% - 5.82% - 3.88% 1.20% 1.76% 1.34% - 8.70% - 3.62% 1969 - 9.53% 6.14% 10.19% 0.17% 2.71% - 0.45% 0.59% - 0.52% - 2.33% - 14.67% 3.58% 2.77% - 14.94% 1970 19.57% 14.39% 4.80% - 2.19% 2.16% 1.44% - 8.19% 0.90% - 5.92% 4.52% 4.41% - 0.66% 4.15% 1971 15.93% 2.20% 6.91% - 2.30% 0.37% 7.60% 0.15% - 5.44% - 3.30% 2.87% 2.16% 2.69% 1.75% 1972 - 13.50% 4.56% - 14.84% - 2.60% 5.70% - 2.14% 0.14% - 5.32% 6.43% - 4.55% 6.33% - 7.30% 1.55% 1973 - 44.58% - 3.53% - 8.23% 14.14% - 24.02% - 4.12% - 17.61% 1.87% 0.50% - 6.86% - 1.14% - 2.62% - 0.44% 1974 18.61% - 2.16% 0.59% 12.59% - 9.82% 0.15% - 13.40% 6.96% 3.84% 3.47% - 0.01% 11.07% 7.23% 1975 18.69% 3.51% - 5.33% - 3.20% 8.03% - 2.39% - 3.39% 5.64% - 2.08% - 0.92% 2.28% - 1.32% 18.77% 1976 - 7.70% 0.94% 0.15% - 3.16% 2.55% - 3.34% - 1.68% 6.49% 2.06% 0.93% - 0.34% - 3.03% - 8.74% 1977 - 4.21% 1.68% 0.80% - 10.90% - 2.39% 7.22% 3.45% - 2.23% 1.60% 9.13% 3.61% - 4.89% - 9.31% 1978 12.83% 2.80% 1.77% - 2.75% - 1.01% 6.43% 2.80% 4.35% - 7.21% 1.69% 7.79% - 9.24% 6.31% 1979 28.81% - 10.31% 9.99% 7.98% 10.59% 1.50% 12.33% 0.55% 1.52% 0.80% - 11.04% 0.17% 4.58% 1980 - 18.86% - 3.80% 8.63% 5.72% - 6.28% - 11.36% 0.25% - 4.09% - 3.20% - 6.82% 4.24% 4.99% - 6.85% 1981 15.32% 1.00% 10.07% 21.75% 2.14% 1.98% - 0.42% - 0.42% - 6.17% 7.29% - 8.60% - 8.23% - 2.32% 1982 32.70% 0.67% 1.01% 0.24% 5.71% 0.18% - 1.78% 10.42% - 2.74% 8.02% 7.64% - 1.09% 1.35% 1983 6.16% 1.07% - 0.06% 0.65% - 2.75% 18.85% 0.76% 7.12% - 11.07% - 0.34% - 0.80% - 4.83% 0.04% 1984 33.58% 4.79% 7.33% 5.14% - 5.53% - 1.88% 0.97% 3.54% 9.04% - 2.71% 1.45% 1.50% 6.71% 1985 13.87% - 0.41% 7.80% 6.37% - 12.28% 7.44% - 10.72% 2.87% 2.43% - 3.54% 3.68% 7.81% 4.30% 1986 73.35% 3.72% - 13.14% 8.78% - 3.80% 7.10% 3.13% 8.88% 4.30% 3.79% 9.50% 5.54% 22.22% 1987 51.74% 3.76% 0.40% 5.98% 6.02% - 1.17% 1.12% 5.19% 4.37% 0.16% 0.57% 4.26% 12.50% 1988 23.89% 2.94% 0.42% - 3.10% - 1.73% 1.11% 9.64% - 2.30% 4.84% 5.57% 5.47% - 5.03% 4.83% 1989 - 1.80% 4.96% 8.28% - 0.28% - 2.50% - 8.59% - 3.61% - 3.72% 11.96% - 6.98% 4.36% 1.84% - 5.35% 1990 8.02% 5.23% - 8.98% - 0.02% - 3.30% - 2.39% 4.42% - 8.50% 6.74% - 0.28% 6.88% 12.63% - 2.38% 1991 - 3.67% 3.48% 2.87% - 3.02% 2.23% - 5.20% 0.57% - 0.06% 0.34% 2.41% - 5.40% 0.51% - 1.94% 1992 2.87% 1.79% - 2.28% 3.98% - 2.82% 2.57% - 2.18% 0.91% - 0.06% - 4.48% 1.60% 5.48% - 1.19% 1993 - 15.20% - 0.85% - 8.71% 0.09% - 3.00% 0.84% 2.42% - 5.85% 1.57% 3.80% - 2.03% - 6.04% 2.26% 1994 39.31% 0.53% 5.42% - 0.39% 6.84% - 0.20% 2.62% 5.29% 3.66% 3.74% 1.38% 4.45% 0.59% 1995 30.38% - 7.81% 9.37% 6.48% 6.55% 7.10% - 5.59% 0.87% 2.71% 3.26% 0.19% - 0.92% 6.14% 1996 41.06% 3.20% 5.59% 0.73% 10.73% - 9.59% 8.58% 3.46% 8.08% 5.43% - 7.05% - 1.46% 9.49% 1997

AUGUST 2026 | J.P. Morgan Kronos+ SM Index Please refer to the “Selected Risks” and “Disclaimer” on the following page . Historical performance measures for the Index represent hypothetical backtested performance using the actual performance of the S&P 500 ® Price Return Index from July 7 , 1954 through December 21 , 2020 and the actual performance of the Index from December 22 , 2020 through July 31 , 2026 . Please see “Use of hypothetical backtested returns” at the end of this presentation for further information related to backtesting including a discussion of certain limitation of backtesting and simulated returns . Except as noted above and in the section entitled “Use of hypothetical backtested returns” at the end of this document, the hypothetical monthly and annual returns set forth above were determined using the methodology currently used to calculate the Index . PAST PERFORMANCE AND BACKTESTED PERFORMANCE ARE NOT INDICATIVE OF FUTURE RESULTS . Investing in the notes linked to the Index involves a number of risks . See “Selected Risks” on page 3 of this document, “Risk Factors” in the prospectus supplement and the relevant product supplement and underlying supplement and “Selected Risk Considerations” in the relevant pricing supplement . Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this document or the accompanying product supplement, underlying supplement, prospectus supplement or prospectus . Any representation to the contrary is a criminal otfense . The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank . Year Dec Nov Oct Sep Aug Jul Jun May Apr Mar Feb Jan 0.15% 0.11% 10.41% - 1.24% 7.56% - 26.57% 2.29% 0.10% - 4.36% 7.54% 4.77% 9.44% - 3.81% 1998 18.02% 5.23% 2.18% 13.69% - 3.00% - 2.09% - 1.11% 4.03% - 2.34% 2.37% - 0.15% - 8.02% 7.62% 1999 - 1.81% 2.84% - 7.52% - 1.89% - 4.89% 9.07% - 0.18% 5.83% - 8.90% - 3.47% 20.52% 5.02% - 13.72% 2000 13.97% 1.81% 15.12% 4.34% - 4.70% - 11.04% - 0.50% 1.18% 10.00% 10.20% 0.20% - 10.44% 0.37% 2001 - 0.97% - 11.65% 8.09% 10.29% - 12.59% 5.87% 13.92% - 8.44% - 0.98% - 9.09% 9.82% - 3.48% 2.10% 2002 29.64% 6.13% 1.08% 7.38% 1.92% 0.89% 2.13% 1.70% 1.09% 12.28% 1.06% - 1.23% - 7.00% 2003 24.87% 3.43% 5.60% 5.08% 2.12% - 2.30% - 3.88% 1.80% 4.35% - 2.30% 3.33% - 0.24% 6.03% 2004 16.90% 0.69% 6.46% - 4.66% 2.90% - 0.90% 3.15% 2.37% 5.28% 1.42% - 1.10% 1.52% - 0.91% 2005 19.45% 2.51% 3.36% 5.22% 0.73% 2.23% 0.83% - 0.08% - 0.25% 2.47% 1.21% - 2.19% 2.07% 2006 16.79% 1.38% 0.95% 2.00% 1.30% 0.72% 3.33% - 6.42% 6.78% 5.81% - 0.36% 0.07% 0.65% 2007 - 53.92% - 6.74% - 3.96% - 19.81% - 14.75% 1.58% - 7.83% - 9.01% 4.99% 2.71% - 8.54% - 8.56% - 2.04% 2008 49.67% 2.47% 6.75% 4.71% 5.06% 7.40% 7.72% - 2.67% 12.09% 11.52% 6.45% - 15.65% - 1.61% 2009 45.44% 10.61% 5.30% 6.40% 13.69% - 6.71% 11.04% - 6.07% - 7.78% 4.05% 8.23% 0.79% 1.34% 2010 20.60% 1.08% 9.36% 8.63% - 6.36% - 3.38% 2.50% - 3.29% - 2.41% 5.30% 0.23% 6.76% 1.85% 2011 23.81% 0.83% 2.25% 0.73% 6.37% 3.39% - 2.92% 2.15% - 7.75% 1.48% 1.42% 6.91% 7.70% 2012 58.28% - 2.24% 3.67% 6.19% 4.78% - 1.19% 8.19% 3.95% 4.68% 2.56% 4.96% 3.77% 8.03% 2013 2.84% - 5.90% 2.99% 3.85% - 1.08% 0.74% 0.15% 4.10% 2.33% - 1.83% 1.70% 3.44% - 6.92% 2014 8.12% - 0.05% 2.32% 11.09% - 7.09% 2.56% 1.54% - 2.95% 2.25% 0.64% - 1.37% 8.50% - 7.97% 2015 11.30% 2.63% 1.96% - 3.61% - 0.49% - 0.15% 4.06% 1.47% 2.81% - 1.20% 11.75% - 3.60% - 3.88% 2016 27.52% 1.03% 2.37% 3.00% 1.59% 2.84% 2.18% 1.39% 1.70% 0.45% 1.38% 4.76% 1.93% 2017 13.22% - 5.33% 8.69% - 6.85% 0.63% 2.71% 4.49% 4.23% 4.79% 2.51% - 0.52% - 10.54% 9.78% 2018 35.14% 2.38% 4.54% - 0.30% 3.40% - 5.13% 1.65% 12.78% - 10.79% 4.35% 4.49% 4.85% 10.41% 2019 100.70% 4.68% 15.65% - 0.03% - 1.23% 7.97% 7.96% 7.50% 2.76% 12.43% 15.04% - 1.79% 2.66% 2020 42.26% 4.21% 2.53% 11.44% - 5.00% 3.64% 0.16% 1.17% 2.81% 7.23% 0.83% 4.87% 2.72% 2021 - 37.08% - 15.24% 0.99% 9.93% - 12.49% - 5.51% 11.93% - 8.85% 9.19% - 15.88% - 5.84% 0.01% - 8.36% 2022 32.11% 4.12% 13.92% - 0.14% - 7.54% - 2.00% 1.68% 9.49% - 4.67% 2.59% 8.62% - 2.65% 6.91% 2023 10.58% - 4.94% 6.00% - 1.27% - 2.00% - 6.59% 2.68% 4.17% 9.65% - 5.18% 3.00% 5.72% 0.26% 2024 2.08% 0.40% - 0.12% - 0.59% 5.81% 0.15% 3.22% 2.16% 7.30% - 2.40% - 12.80% - 0.61% 0.96% 2025 7.46% - 0.70% - 2.10% 6.03% 13.95% - 4.92% - 2.68% - 1.13% 2026

AUGUST 2026 | J.P. Morgan Kronos+ SM Index Selected Risks  Our affiliate, J.P. Morgan Securities LLC (“JPMS”), is the sponsor and calculation agent of the Index and may adjust the Index in a way that atfects its level.  The level of the Index will include the deduction of a fee of 0.95% per annum and, in some circumstances, a notional financing cost based on the Etfective Federal Funds Rate.  JPMorgan Chase & Co. is currently one of the companies that make up the Constituent.  There are risks associated with the Index’s turn - of - month strategy.  There are risks associated with the Index’s option expiry momentum strategy.  There are risks associated with the Index’s mean reversion strategy.  The Index’s strategies are applied during only a portion of each month.  The Index may be adversely atfected by an overlap between its turn - of - the - month strategy and its month - end mean reversion strategy.  The Index may be uninvested in the Constituent.  The Constituent of the Index may be replaced by a substitute index in certain extraordinary events.  The notional cash return will be negatively atfected if the underlying interest rate is negative.  The Index, which was established on December 22, 2020, has a limited operating history and may perform in unanticipated ways.  The Index comprises notional assets and liabilities. There is no actual portfolio of assets to which any person is entitled or in which any person has any ownership interest.  The Index may not be successful or outperform any alternative strategy that may be employed of the Constituents.  The Etfective Federal Funds Rate is atfected by a number of factors and may be volatile.  The method pursuant to which the Etfective Federal Funds Rate is determined may change, and any such change may adversely atfect the value of notes linked to the Index. The risks identified above are not exhaustive. You should also review carefully the related “Risk Factors” section in the prospectus supplement and the relevant product supplement and underlying supplement and the “Selected Risk Considerations” in the relevant pricing supplement. Disclaimer Important Information The information contained in this document is for discussion purposes only . Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether historical or hypothetical, will be achieved . All information herein is subject to change without notice, however, J . P . Morgan undertakes no duty to update this information . In the event of any inconsistency between the information presented herein and any otfering document, the otfering document shall govern . Use of hypothetical backtested returns Any backtested historical performance and weighting information included herein is hypothetical . The constituent may not have traded in the manner shown in the hypothetical backtest of the Index included herein, and no representation is being made that the Index will achieve similar performance . There are frequently significant ditferences between hypothetical backtested performance and actual subsequent performance . The results obtained from backtesting information should not be considered indicative of the actual results that might be obtained from an investment in notes referencing the Index . J . P . Morgan provides no assurance or guarantee that notes linked to the Index will operate or would have operated in the past in a manner consistent with these materials . The hypothetical historical levels presented herein have not been verified by an independent third party, and such hypothetical historical levels have inherent limitations . Alternative simulations, techniques, modeling or assumptions might produce significantly ditferent results and prove to be more appropriate . Actual results will vary, perhaps materially, from the hypothetical backtested returns and allocations presented in this document . HISTORICAL AND BACKTESTED PERFORMANCE AND ALLOCATIONS ARE NOT INDICATIVE OF FUTURE RESULTS . Investment suitability must be determined individually for each investor, and investments linked to the Index may not be suitable for all investors . This material is not a product of J . P . Morgan Research Departments . Copyright © 2026 JPMorgan Chase & Co . All rights reserved . For additional regulatory disclosures, please consult : www . jpmorgan . com/disclosures . Information contained on this website is not incorporated by reference in, and should not be considered part of, this document . This monthly update document replaces and supersedes all prior written materials of this type previously provided with respect to the Index .