Issuer: JPMorgan Chase Financial Company LLC, an indirect, wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Index: The S&P 500® Index (Bloomberg ticker: SPX)
Contingent Interest Payments:
If the notes have not been previously redeemed early and the closing level of the Index on any Review Date is greater than or equal to the Interest Barrier, you will receive on the applicable Interest Payment Date for each $1,000 principal amount note a Contingent Interest Payment equal to $20.125 (equivalent to a Contingent Interest Rate of 8.05% per annum, payable at a rate of 2.0125% per quarter).
If the closing level of the Index on any Review Date is less than the Interest Barrier, no Contingent Interest Payment will be made with respect to that Review Date.
Contingent Interest Rate: 8.05% per annum, payable at a rate of 2.0125% per quarter
Interest Barrier: 75.00% of the Initial Value, which is 3,890.775
Trigger Value: 70.00% of the Initial Value, which is 3,631.39
Pricing Date: May 7, 2024
Original Issue Date (Settlement Date): On or about May 10, 2024
Review Dates*: August 7, 2024, November 7, 2024, February 7, 2025, May 7, 2025, August 7, 2025, November 7, 2025, February 9, 2026, May 7, 2026, August 7, 2026, November 9, 2026, February 8, 2027, May 7, 2027, August 9, 2027, November 8, 2027, February 7, 2028, May 8, 2028, August 7, 2028, November 7, 2028, February 7, 2029 and May 7, 2029 (the “final Review Date”)
Interest Payment Dates*: August 12, 2024, November 13, 2024, February 12, 2025, May 12, 2025, August 12, 2025, November 13, 2025, February 12, 2026, May 12, 2026, August 12, 2026, November 13, 2026, February 11, 2027, May 12, 2027, August 12, 2027, November 12, 2027, February 10, 2028, May 11, 2028, August 10, 2028, November 10, 2028, February 12, 2029 and the Maturity Date
Maturity Date*: May 10, 2029
*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 a Single Underlying — Notes Linked to a Single Underlying (Other Than a Commodity Index)” 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 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 is greater than or equal to the 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 is less than the Trigger Value, your payment at maturity per $1,000 principal amount note will be calculated as follows:
$1,000 + ($1,000 × Index Return)
If the notes have not been redeemed early and the Final Value is less than the 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.
Index Return:
(Final Value – Initial Value) Initial Value
Initial Value: The closing level of the Index on the Pricing Date, which was 5,187.70
Final Value: The closing level of the Index on the final Review Date
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