<SEC-DOCUMENT>0001213900-25-123021.txt : 20251218
<SEC-HEADER>0001213900-25-123021.hdr.sgml : 20251218
<ACCEPTANCE-DATETIME>20251217202412
ACCESSION NUMBER:		0001213900-25-123021
CONFORMED SUBMISSION TYPE:	FWP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251218
DATE AS OF CHANGE:		20251217

SUBJECT COMPANY:	

	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:		FWP
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	333-270004
		FILM NUMBER:		251581036

	BUSINESS ADDRESS:	
		STREET 1:		383 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2122706000

	MAIL ADDRESS:	
		STREET 1:		383 MADISON 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

FILED BY:		

	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:		FWP

	BUSINESS ADDRESS:	
		STREET 1:		383 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		2122706000

	MAIL ADDRESS:	
		STREET 1:		383 MADISON 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
</SEC-HEADER>
<DOCUMENT>
<TYPE>FWP
<SEQUENCE>1
<FILENAME>ea0270171-01_fwp.htm
<DESCRIPTION>FACT SHEET
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; color: gray"><B>JPMorgan Chase Financial Company LLC</B></P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: gray">Free Writing Prospectus Filed Pursuant to
Rule 433</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: gray">Registration Statement Nos. 333-270004 and
333-270004-01</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: right; color: gray">Dated December 17, 2025</P>

<P STYLE="color: #296DC1; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0; border-bottom: #296DC1 0.5pt solid"><FONT STYLE="font-weight: normal">3yrNC6m
XLE Contingent Income Auto-Callable Securities</FONT></P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt 4.3pt"><B><I>This document provides a summary of the terms of the securities.
Investors must carefully review the accompanying preliminary pricing supplement referenced below, product supplement, underlying supplement,
prospectus supplement, prospectus and prospectus addendum and the &#8220;Risk Considerations&#8221; on the following page, prior to making
an investment decision.</I></B></P>
<div style="float: left; width: 49%">
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #296DC1">
    <TD COLSPAN="3" STYLE="padding: 3pt 5.4pt; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; font-style: normal">SUMMARY
    TERMS</FONT></TD></TR>
  <TR STYLE="background-color: #296DC1">
    <TD COLSPAN="3" STYLE="padding: 3pt 5.4pt; font-size: 10pt; color: white; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Issuer: </B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">JPMorgan Chase Financial Company LLC (&#8220;JPMorgan Financial&#8221;)</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Guarantor:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">JPMorgan Chase &amp; Co.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 5.4pt; vertical-align: top; padding-top: 1pt; padding-bottom: 1pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>ETF Shares:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 1pt; padding-bottom: 1pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">Shares of the State Street<SUP>&reg;</SUP> Energy Select Sector SPDR<SUP>&reg;</SUP> ETF (Bloomberg ticker: XLE UP Equity)</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Early redemption:</B></FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt">
    <P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 2pt 0">If, on any of the determination dates (other than the first and final
    determination dates), the closing price of one ETF Share is <B>greater than or equal to </B>the initial share price, the securities will
    be automatically redeemed for an early redemption payment on the first contingent payment date immediately following the related determination
    date. No further payments will be made on the securities once they have been redeemed.</P>
    <P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 2pt 0"><B>The securities will not be redeemed early on any contingent payment
    date if the closing price of one ETF Share is below the initial share price on the related determination date.</B></P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; font-style: normal">Early
    redemption payment:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">The early redemption payment will be an amount equal to (i) the stated principal amount plus (ii) any contingent quarterly payment otherwise due with respect to the related quarterly monitoring period.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; font-style: normal">Contingent
    quarterly payment:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt">
    <P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.1in; text-indent: -0.1in"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&middot;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-size: 7.5pt">If the closing price of one EFT Share is greater than or equal to the coupon barrier level on <B>each</B>
    day during a quarterly monitoring period, we will pay a contingent quarterly payment of at least $20.00 (at least 2.00% of the stated
    principal amount) per security on the related contingent payment date. The actual contingent quarterly payment will be provided in the
    pricing supplement. </FONT></P>
    <P STYLE="font: 8.5pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 7.35pt; text-indent: -7.35pt"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&middot;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp;
    </FONT><FONT STYLE="font-size: 7.5pt">If the closing price of one ETF Share is less than the coupon barrier level on <B>any</B> day during
    a quarterly monitoring period, no contingent quarterly payment will be payable with respect to that quarterly monitoring period. <B>It
    is possible that the closing price of one ETF Share will be below the coupon barrier level on at least one day during most or all of the
    quarterly monitoring periods so that you will receive few or no contingent quarterly payments.</B></FONT></P></TD></TR>
  <TR>
    <TD STYLE="padding-left: 5.4pt; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; font-style: normal">Determination
    dates<SUP>&#8224;</SUP>: </FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">March 19, 2026, June 22, 2026, September 21, 2026, December 21, 2026, March 19, 2027, June 21, 2027, September 20, 2027, December 20, 2027, March 20, 2028, June 20, 2028, September 19, 2028 and December 19, 2028 </FONT></TD></TR>
  <TR STYLE="background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; vertical-align: top; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; font-style: normal">Contingent
    payment dates<SUP>&#8224;</SUP>: </FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">March 24, 2026, June 25, 2026, September 24, 2026, December 24, 2026, March 24, 2027, June 24, 2027, September 23, 2027, December 23, 2027, March 23, 2028, June 23, 2028, September 22, 2028 and the maturity date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; width: 25%; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; font-style: normal">Payment
    at maturity:</FONT></TD>
    <TD STYLE="width: 30%; padding-top: 1pt; padding-left: 7.35pt; text-indent: -7.35pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&middot;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp; </FONT><FONT STYLE="font-size: 7.5pt">If the final share price is <B>greater than or equal to</B> the downside threshold level:</FONT></TD>
    <TD STYLE="width: 45%; padding-top: 1pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">(i) the stated principal amount <I>plus</I>, (ii) if the closing price of one ETF Share on each day during the final quarterly monitoring period is greater than or equal to the coupon barrier level, the contingent quarterly payment with respect to the final quarterly monitoring period.</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-left: 5.4pt; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold">&nbsp;</TD>
    <TD STYLE="padding-top: 1pt; padding-left: 7.35pt; text-indent: -7.35pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-family: Symbol; font-size: 7.5pt">&middot;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7pt">&nbsp; </FONT><FONT STYLE="font-size: 7.5pt">If the final share price is <B>less than</B> the downside threshold level:</FONT></TD>
    <TD STYLE="padding-top: 1pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">(i) the stated principal amount <I>times</I> (ii) the share performance factor.&nbsp;&nbsp;This cash payment will be less than 65% of the stated principal amount of the securities and could be zero.</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Coupon barrier level:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">75% of the initial share price </FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Downside threshold level:</FONT></TD>
    <TD COLSPAN="2" STYLE="padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">65% of the initial share price </FONT></TD></TR>
  </TABLE>
</div>
<div style="float: right; width: 49%">
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; width: 23%; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Initial share price:</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; width: 77%; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">The closing price of one ETF Share on the pricing date</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Final share price:</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">The closing price of one ETF Share on the final determination date</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Share adjustment factor: </FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">The share adjustment factor is referenced in determining the closing price of one ETF Share and is set initially at 1.0 on the pricing date. The share adjustment factor is subject to adjustment in the event of certain events affecting the ETF Shares. See &#8220;The Underlyings &#8212;&nbsp;&nbsp;Funds &#8212; Anti-Dilution Adjustments&#8221; in the accompanying product supplement.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char; color: #296DC1; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt">Share performance factor:</FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 8.5pt; layout-grid-mode: char"><FONT STYLE="font-size: 7.5pt">final share price / initial share price</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Stated principal amount:</B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">$1,000 per security</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Issue price:</B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">$1,000 per security</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Pricing date:</B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">Expected to be December 19, 2025</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Original issue date (settlement date): </B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">3 business days after the pricing date</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 7.5pt; color: #296DC1"><B>Maturity date<SUP>&#8224;</SUP>: </B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">December 22, 2028</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt; color: #296DC1"><B>CUSIP / ISIN:</B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt">48136MKT3 / US48136MKT35</FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: #DCEBF4">
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt; color: #296DC1"><B>Preliminary pricing supplement: </B></FONT></TD>
    <TD STYLE="padding-left: 5.4pt; padding-top: 2pt; padding-bottom: 2pt; font-size: 9pt"><FONT STYLE="font-size: 7.5pt"><A HREF="https://www.sec.gov/Archives/edgar/data/19617/000121390025122853/ea0270129-01_424b2.htm">http://www.sec.gov/Archives/edgar/data/19617/<BR>
000121390025122853/ea0270129-01_424b2.htm</A></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0 0 2pt"><SUP>&#8224;</SUP>Subject to postponement</P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0">The estimated value of the securities on the pricing date will be provided
in the pricing supplement and will not be less than $930.00 per $1,000 stated principal amount security. For information about the estimated
value of the securities, which likely will be lower than the price you paid for the securities, please see the hyperlink above.</P>

<P STYLE="font: 7.5pt Arial, Helvetica, Sans-Serif; margin: 0 0 4pt">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 &amp; Co., as guarantor of the securities.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif">
  <TR STYLE="background-color: #296DC1">
    <TD COLSPAN="2" STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
    <P STYLE="color: white; font: bold 8pt Arial, Helvetica, Sans-Serif; margin: 3pt 0 0; text-align: center"><FONT STYLE="font-style: normal">Hypothetical
    Payout at Maturity</FONT></P>
    <P STYLE="color: white; font: 8pt Arial, Helvetica, Sans-Serif; margin: 3pt 0; text-align: center"><FONT STYLE="font-weight: normal">(if
    the securities have not previously been redeemed) </FONT></P></TD></TR>
  <TR STYLE="background-color: #296DC1">
    <TD STYLE="width: 55%; padding: 3pt 5.4pt; text-align: center; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; font-style: normal">Change
    in ETF Shares</FONT></TD>
    <TD STYLE="width: 45%; padding: 3pt 5.4pt; text-align: center; font-size: 10pt; color: white; font-weight: bold"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; font-style: normal">Payment&nbsp;at&nbsp;Maturity&nbsp;(excluding&nbsp;any<BR>
    coupon payable at maturity)</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">50.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">40.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">30.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">20.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">10.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">5.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">0.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-10.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-20.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-25.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,020.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-25.01%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,000.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-30.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,000.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-35.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$1,000.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-35.01%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$649.90</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-40.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$600.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-50.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$500.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-60.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$400.00</FONT></TD></TR>
  <TR>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-80.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$200.00</FONT></TD></TR>
  <TR STYLE="background-color: #D9D9D9">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">-100.00%</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font-size: 12pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">$0.00</FONT></TD></TR>
  </TABLE>
</div>
<div style="clear:both"></div>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; color: gray"><B>JPMorgan Chase Financial Company LLC</B></P>

<P STYLE="color: #296DC1; font: 16pt Arial, Helvetica, Sans-Serif; margin: 0; border-bottom: #296DC1 0.5pt solid"><FONT STYLE="font-weight: normal">3yrNC6m
XLE Contingent Income Auto-Callable Securities</FONT></P>

<P STYLE="color: #296DC1; font: 14pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 3pt">ETF Shares</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-style: normal">For more information about the ETF Shares,
including historical performance information, see the accompanying preliminary pricing supplement.</FONT></P>

<P STYLE="color: #296DC1; font: 14pt Arial, Helvetica, Sans-Serif; margin: 4pt 0 3pt">Risk Considerations</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">The risks identified below are not exhaustive.
Please see &#8220;Risk Factors&#8221; in the accompanying prospectus supplement, product supplement, underlying supplement and preliminary
pricing supplement and Annex A to the accompanying prospectus addendum for additional information.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: -0.25in; color: #296DC1">Risks Relating to the Securities
Generally</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The securities do not guarantee the return of any principal and your investment in the securities may
result in a loss. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">You will not receive any contingent quarterly payment for a quarterly monitoring period if the closing
price of one ETF Share is less than the coupon barrier level on any day during that quarterly monitoring period. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The contingent quarterly payment is based on the closing prices of one ETF Share during the quarterly
monitoring periods.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The securities are subject to the credit risks of JPMorgan Financial and JPMorgan Chase &amp; Co., and
any actual or anticipated changes to our or JPMorgan Chase &amp; Co.&#8217;s credit ratings or credit spreads may adversely affect the
market value of the securities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">As a finance subsidiary, JPMorgan Financial has no independent operations and has limited assets.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Investors will not participate in any appreciation of the ETF Shares.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Early redemption risk.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Secondary trading may be limited.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The final terms and estimated valuation of the securities will be provided in the pricing supplement.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The U.S. federal income tax consequences of an investment in the securities are uncertain.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: -0.25in; color: #296DC1">Risks Relating to Conflicts
of Interest</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">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. </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Hedging and trading activities by the issuer and its affiliates could potentially affect the value of
the securities.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: -0.25in; color: #296DC1">Risks Relating to the Estimated
Value and Secondary Market Prices of the Securities</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; font-weight: normal; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The estimated value of the securities will be lower than the original issue price (price to public) of
the securities<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: normal">.</FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 9pt">The estimated value of the securities
does not represent future values of the securities and may differ from others&#8217; estimates</FONT>.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; font-weight: normal; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; font-weight: normal">The estimated value of the securities
is derived by reference to an internal funding rate.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; font-weight: normal; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; font-weight: normal">The value of the securities as published
by J.P. Morgan Securities LLC (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.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; font-weight: normal; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Secondary market prices of the securities will likely be lower than the original issue price of the securities<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-weight: normal">.
</FONT></FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; font-weight: normal; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; font-weight: normal">Secondary market prices of the securities
will be impacted by many economic and market factors.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.25in; text-indent: -0.25in; color: #296DC1">Risks Relating to the ETF
Shares</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Investing in the secruties is not equivalent to investing in the ETF Shares </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Adjustments to the ETF Shares or the underlying index could adversely affect the value of the securities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">There are risks associated with the ETF Shares.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The performance and market value of the ETF Shares, particularly during periods of market volatility,
may not correlate with the performance of the underlying index as well as the net asset value per ETF Share.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The securities are subject to risks associated with the energy sector.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">Governmental legislative and regulatory actions, including sanctions, could adversely affect your investment
in the securities.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 9.5pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings; font-size: 12pt; color: #A3C4EB">&sect;</FONT></TD><TD><FONT STYLE="font-size: 9pt">The anti-dilution protection for the ETF Shares is limited.</FONT></TD></TR></TABLE>

<P STYLE="color: #296DC1; font: 14pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 3pt">Tax Considerations</P>




<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 0 0 3pt">You should review carefully the discussion in the accompanying preliminary
pricing supplement under &#8220;Additional Information about the Securities &#8212; Tax considerations&#8221; concerning the U.S. federal
income tax consequences of an investment in the securities, and you should consult your tax adviser.</P>

<P STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; border-top: Black 0.5pt solid">SEC Legend: JPMorgan Chase Financial
Company LLC and JPMorgan Chase &amp; Co. have filed a registration statement (including a prospectus) with the SEC for any offerings to
which these materials relate. Before you invest, you should read the prospectus in that registration statement and the other documents
relating to this offering that JPMorgan Chase Financial Company LLC and JPMorgan Chase &amp; Co. has filed with the SEC for more complete
information about JPMorgan Chase Financial Company LLC and JPMorgan Chase &amp; Co. and this offering. You may get these documents without
cost by visiting EDGAR on the SEC web site at www.sec.gov. Alternatively, JPMorgan Chase Financial Company LLC and JPMorgan Chase &amp;
Co., any agent or any dealer participating in this offering will arrange to send you the prospectus and each prospectus supplement as
well as any product supplement and preliminary pricing supplement if you so request by calling toll-free 1-866-535-9248.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 10pt 0.25in">&nbsp;</P>

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