JPMorgan Chase Financial Company LLC filed a 424B2 pricing supplement dated July 30, 2026, disclosing the terms of $1,352,000 in Uncapped Dual Directional Buffered Return Enhanced Notes linked to the least performing of the Dow Jones Industrial Average , the Russell 2000 Index , and the S&P 500 Index, due February 3, 2028.

Key Highlights

  • Total offering size: $1,352,000, priced at $1,000 per note with minimum denominations of $1,000
  • Upside Leverage : 1.19 times the return of the least performing index if all three indexes finish above their initial values
  • Buffer amount: 10.00%, providing limited downside protection up to that threshold
  • Estimated value at pricing: $966.80 per $1,000 principal amount note, according to the filing
  • Selling commissions: $19.00 per $1,000 principal amount note, totaling $25,688, paid by J.P. Morgan Securities LLC to affiliated or unaffiliated dealers
  • Maturity date: February 3, 2028, with an observation date of January 31, 2028
  • Principal at risk: Investors may lose up to 90.00% of their principal amount at maturity, according to the filing

Structure and Payout Terms of the JPMorgan Dual Directional Buffered Notes

According to the pricing supplement, JPMorgan Chase Financial Company LLC ( Nasdaq : JPM parent guarantor) is the issuer of these structured notes, which are fully and unconditionally guaranteed by JPMorgan Chase & Co. The notes are unsecured and unsubordinated obligations of JPMorgan Financial, and any payment on them is subject to the Credit risk of both the issuer and the guarantor. The notes priced on July 30, 2026, and are expected to settle on or about August 4, 2026, under CUSIP 46661CLE4. The filing also references ticker VYLD in connection with underlying index data cross-references included in the accompanying supplement materials for this structured product series.

The filing describes three distinct payout scenarios at maturity. If all three indexes finish above their initial closing levels recorded on the pricing date (52,208.06 for the Dow Jones Industrial Average, 2,946.101 for the Russell 2000 Index, and 7,437.63 for the S&P 500 Index), the investor receives $1,000 plus $1,000 multiplied by the least performing index return multiplied by the 1.19 upside leverage Factor . If the least performing index declines but stays within the 10.00% buffer, the investor receives the absolute value of that decline as a positive return, capped at $1,100.00 per $1,000 principal amount note. If the least performing index falls by more than the 10.00% buffer amount, the investor loses principal on a one-for-one basis beyond that threshold, with a maximum loss of 90.00% of principal.

The filing states that proceeds to the issuer total $1,326,312 after fees and commissions. The estimated value of $966.80 per note was established when the terms were set, which the filing notes is less than the $1,000 price to public. The notes are not bank deposits and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency. The filing contains forward-looking statements and hypothetical payout illustrations that are the company's own and are subject to its cautionary language.

What Was Disclosed

This 424B2 pricing supplement disclosed the full economic terms, payout mechanics, fee structure, initial index values, and risk considerations for $1,352,000 in structured notes issued by JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co., maturing February 3, 2028. Verified against source; unverifiable items removed.