Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Indices: The Nasdaq-100® Technology Sector IndexSM (Bloomberg ticker: NDXT), the Russell 2000® Index (Bloomberg ticker: RTY) and the S&P 500® Index (Bloomberg ticker: SPX) (each an “Index” and collectively, the “Indices”)
Contingent Interest Payments:
If the notes have not been previously redeemed early and the closing level of each Index on any Review Date is greater than or equal to its Interest Barrier, you will receive on the applicable Interest Payment Date for each $1,000 principal amount note a Contingent Interest Payment equal to $23.125 (equivalent to a Contingent Interest Rate of 9.25% per annum, payable at a rate of 2.3125% per quarter).
If the closing level of any Index on any Review Date is less than its Interest Barrier, no Contingent Interest Payment will be made with respect to that Review Date.
Contingent Interest Rate: 9.25% per annum, payable at a rate of 2.3125% per quarter
Interest Barrier/Trigger Value: With respect to each Index, 70.00% of its Initial Value, which is 7,817.936 for the Nasdaq-100® Technology Sector IndexSM, 1,530.9168 for the Russell 2000® Index and 3,941.854 for the S&P 500® Index
Pricing Date: July 15, 2024
Original Issue Date (Settlement Date): On or about July 18, 2024
Review Dates*: October 15, 2024, January 15, 2025, April 15, 2025, July 15, 2025, October 15, 2025 and January 15, 2026 (the “final Review Date”)
Interest Payment Dates*: October 18, 2024, January 21, 2025, April 21, 2025, July 18, 2025, October 20, 2025 and the Maturity Date
Maturity Date*: January 21, 2026
* Subject to postponement in the event of a market disruption event and as described under “General Terms of Notes — Postponement of a Determination Date — Notes Linked to Multiple Underlyings” and “General Terms of Notes — Postponement of a Payment Date” in the accompanying product supplement
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Early Redemption:
We, at our election, may redeem the notes early, in whole but not in part, on any of the Interest Payment Dates (other than the final Interest Payment Date) at a price, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Contingent Interest Payment, if any, applicable to the immediately preceding Review Date. If we intend to redeem your notes early, we will deliver notice to The Depository Trust Company, or DTC, at least three business days before the applicable Interest Payment Date on which the notes are redeemed early.
Payment at Maturity:
If the notes have not been redeemed early and the Final Value of each Index is greater than or equal to its Trigger Value, you will receive a cash payment at maturity, for each $1,000 principal amount note, equal to (a) $1,000 plus (b) the Contingent Interest Payment applicable to the final Review Date.
If the notes have not been redeemed early and the Final Value of any Index is less than its Trigger Value, your payment at maturity per $1,000 principal amount note will be calculated as follows:
$1,000 + ($1,000 × Least Performing Index Return)
If the notes have not been redeemed early and the Final Value of any Index is less than its Trigger Value, you will lose more than 30.00% of your principal amount at maturity and could lose all of your principal amount at maturity.
Least Performing Index: The Index with the Least Performing Index Return
Least Performing Index Return: The lowest of the Index Returns of the Indices
Index Return:
With respect to each Index,
(Final Value – Initial Value) Initial Value
Initial Value: With respect to each Index, the closing level of that Index on the Pricing Date, which was 11,168.48 for the Nasdaq-100® Technology Sector IndexSM, 2,187.024 for the Russell 2000® Index and 5,631.22 for the S&P 500® Index
Final Value: With respect to each Index, the closing level of that Index on the final Review Date
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