Issuer: JPMorgan Chase Financial Company LLC, an indirect,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Underlyings: The Nasdaq-100® Technology Sector IndexSM
(Bloomberg ticker: NDXT) and the S&P 500® Index (Bloomberg
ticker: SPX) (each an “Index” and collectively, the “Indices”) and
the Technology Select Sector SPDR® Fund (Bloomberg ticker:
XLK) (the “Fund”) (each of the Indices and the Fund, an
“Underlying” and collectively, the “Underlyings”)
Contingent Interest Payments:
If the notes have not been previously redeemed early and the
closing value of each Underlying 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 $8.9583
(equivalent to a Contingent Interest Rate of 10.75% per annum,
payable at a rate of 0.89583% per month).
If the closing value of any Underlying 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: 10.75% per annum, payable at a
rate of 0.89583% per month
Interest Barrier: With respect to each Underlying, 80.00% of its
Initial Value, which is 8,443.608 for the Nasdaq-100®
Technology Sector IndexSM, 4,246.504 for the S&P 500® Index
and $171.448 for the Technology Select Sector SPDR® Fund
Trigger Value: With respect to each Underlying, 70.00% of its
Initial Value, which is 7,388.157 for the Nasdaq-100®
Technology Sector IndexSM, 3,715.691 for the S&P 500® Index
and $150.017 for the Technology Select Sector SPDR® Fund
Pricing Date: May 20, 2024
Original Issue Date (Settlement Date): On or about May 23,
2024
Review Dates*: June 20, 2024, July 22, 2024, August 20, 2024,
September 20, 2024, October 21, 2024, November 20, 2024,
December 20, 2024, January 21, 2025, February 20, 2025,
March 20, 2025, April 21, 2025, May 20, 2025, June 20, 2025,
July 21, 2025, August 20, 2025, September 22, 2025, October
20, 2025, November 20, 2025, December 22, 2025, January 20,
2026, February 20, 2026, March 20, 2026, April 20, 2026, May
20, 2026, June 22, 2026, July 20, 2026, August 20, 2026,
September 21, 2026, October 20, 2026, November 20, 2026,
December 21, 2026, January 20, 2027, February 22, 2027,
March 22, 2027, April 20, 2027 and May 20, 2027 (the “final
Review Date”)
Interest Payment Dates*: June 25, 2024, July 25, 2024, August
23, 2024, September 25, 2024, October 24, 2024, November
25, 2024, December 26, 2024, January 24, 2025, February 25,
2025, March 25, 2025, April 24, 2025, May 23, 2025, June 25,
2025, July 24, 2025, August 25, 2025, September 25, 2025,
October 23, 2025, November 25, 2025, December 26, 2025,
January 23, 2026, February 25, 2026, March 25, 2026, April 23,
2026, May 26, 2026, June 25, 2026, July 23, 2026, August 25,
2026, September 24, 2026, October 23, 2026, November 25,
2026, December 24, 2026, January 25, 2027, February 25,
2027, March 25, 2027, April 23, 2027 and the Maturity Date
Maturity Date*: May 25, 2027
*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
first through eleventh and final Interest Payment Dates) 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 Underlying 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, if any, applicable to the final
Review Date.
If the notes have not been redeemed early and the Final Value
of any Underlying 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 Underlying Return)
If the notes have not been redeemed early and the Final Value
of any Underlying 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 Underlying: The Underlying with the Least
Performing Underlying Return
Least Performing Underlying Return: The lowest of the
Underlying Returns of the Underlyings
Underlying Return:
With respect to each Underlying,
(Final Value – Initial Value)
Initial Value
Initial Value: With respect to each Underlying, the closing value
of that Underlying on the Pricing Date, which was 10,554.51 for
the Nasdaq-100® Technology Sector IndexSM, 5,308.13 for the
S&P 500® Index and $214.31 for the Technology Select Sector
SPDR® Fund
Final Value: With respect to each Underlying, the closing value
of that Underlying on the final Review Date
Share Adjustment Factor: The Share Adjustment Factor is
referenced in determining the closing value of the Fund and is
set equal to 1.0 on the Pricing Date. The Share Adjustment
Factor is subject to adjustment upon the occurrence of certain
events affecting the Fund. See “The Underlyings – Funds –
Anti-Dilution Adjustments” in the accompanying product
supplement for further information.
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