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 $8.3333 (equivalent to a Contingent Interest Rate of 10.00% per annum, payable at a rate of 0.83333% per month).
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: 10.00% per annum, payable at a rate of 0.83333% per month
Interest Barrier: With respect to each Index, 75.00% of its Initial Value, which is 8,017.47 for the Nasdaq-100® Technology Sector IndexSM, 1,516.75875 for the Russell 2000® Index and 4,101.975 for the S&P 500® Index
Trigger Value: With respect to each Index, 70.00% of its Initial Value, which is 7,482.972 for the Nasdaq-100® Technology Sector IndexSM, 1,415.6415 for the Russell 2000® Index and 3,828.51 for the S&P 500® Index
Pricing Date: June 25, 2024
Original Issue Date (Settlement Date): On or about June 28, 2024
Review Dates*: July 25, 2024, August 26, 2024, September 25, 2024, October 25, 2024, November 25, 2024, December 26, 2024, January 27, 2025, February 25, 2025, March 25, 2025, April 25, 2025, May 27, 2025, June 25, 2025, July 25, 2025, August 25, 2025, September 25, 2025, October 27, 2025, November 25, 2025, December 26, 2025, January 26, 2026, February 25, 2026, March 25, 2026, April 27, 2026, May 26, 2026 and June 25, 2026 (the “final Review Date”)
Interest Payment Dates*: July 30, 2024, August 29, 2024, September 30, 2024, October 30, 2024, November 29, 2024, December 31, 2024, January 30, 2025, February 28, 2025, March 28, 2025, April 30, 2025, May 30, 2025, June 30, 2025, July 30, 2025, August 28, 2025, September 30, 2025, October 30, 2025, December 1, 2025, December 31, 2025, January 29, 2026, March 2, 2026, March 30, 2026, April 30, 2026, May 29, 2026 and the Maturity Date
Maturity Date*: June 30, 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 first, second, third, fourth, fifth 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 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, if any, 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 10,689.96 for the Nasdaq-100® Technology Sector IndexSM, 2,022.345 for the Russell 2000® Index and 5,469.30 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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