JPMorgan Multi-Asset Choice New York

Supplement dated March 27, 2026
to the following statutory prospectus(es):

JPMorgan Multi-Asset Choice and JPMorgan Multi-Asset Choice New York dated May 1, 2025

This supplement updates certain information contained in your statutory prospectus. Please read and retain

this supplement for future reference.

The Board of Trustees of the funds approved the merger of Legg Mason Partners Variable Equity Trust - ClearBridge Variable Appreciation Portfolio: Class I ("Target Fund 1") into Lincoln Variable Insurance Products Trust - LVIP ClearBridge Appreciation Fund: Standard Class ("Acquiring Fund 1"), as well as the merger of Legg Mason Partners Variable Equity Trust - ClearBridge Variable Dividend Strategy Portfolio: Class I ("Target Fund 2") into Lincoln Variable Insurance Products Trust - LVIP ClearBridge Dividend Strategy Fund: Standard Class ("Acquiring Fund 2"). Subject to shareholder approval, the merger will be effective on or about April 24, 2026 (the "Effective Date").

As of the Effective Date, the following changes apply to the contract:

•

Target Funds 1 and 2 will no longer be available to receive transfers or new purchase payments;

•

Target Funds 1 and 2 will transfer all or substantially all of its assets to the respective Acquiring Funds 1 and 2 in exchange for shares of the respective Acquiring Fund 1 or 2; and

•

Acquiring Funds 1 and 2 will assume all liabilities of the respective Target Fund.

Accordingly, the following changes apply to the prospectus:

(1) Appendix A is amended to add the following:

Type	Underlying Mutual Fund and Adviser/Subadviser	Current Expenses	Average Annual Total Returns (as of 12/31/2025)
Type	Underlying Mutual Fund and Adviser/Subadviser	Current Expenses	1 year	5 year	10 year
Equity	Lincoln Variable Insurance Products Trust - LVIP ClearBridge Appreciation Fund: Standard Class Investment Advisor: Lincoln Financial Investments Corporation Sub-Advisor: ClearBridge Investments, LLC	0.75%*	14.49%	12.72%	13.34%
Equity	Lincoln Variable Insurance Products Trust - LVIP ClearBridge Dividend Strategy Fund: Standard Class Investment Advisor: Lincoln Financial Investments Corporation Sub-Advisor: ClearBridge Investments, LLC	0.75%	12.62%	11.86%	12.46%

This underlying mutual fund’s current expenses reflect a temporary fee reduction.

(2) All references in the prospectus to Target Funds 1 and 2 are deleted and replaced with Acquiring Funds 1 and 2.

PROS-1148