Issuer: JPMorgan Chase Financial Company LLC, a direct,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Underlyings: The Nasdaq-100® Technology Sector IndexSM
(Bloomberg ticker: NDXT) and the Russell 2000® Index
(Bloomberg ticker: RTY) (each an “Index” and collectively, the
“Indices”) and the Utilities Select Sector SPDR® Fund
(Bloomberg ticker: XLU) (the “Fund”) (each of the Indices and
the Fund, an “Underlying” and collectively, the “Underlyings”)
Contingent Interest Payments:
If the notes have not been automatically called 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 $7.0833 (equivalent to a
Contingent Interest Rate of 8.50% per annum, payable at a rate
of 0.70833% 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: 8.50% per annum, payable at a rate
of 0.70833% per month
Interest Barrier: With respect to each Underlying, 70.00% of its
Initial Value, which is 7,802.004 for the Nasdaq-100®
Technology Sector IndexSM, 1,503.7869 for the Russell 2000®
Index and $49.882 for the Utilities Select Sector SPDR® Fund
Trigger Value: With respect to each Underlying, 60.00% of its
Initial Value, which is 6,687.432 for the Nasdaq-100®
Technology Sector IndexSM, 1,288.9602 for the Russell 2000®
Index and $42.756 for the Utilities Select Sector SPDR® Fund
Pricing Date: July 12, 2024
Original Issue Date (Settlement Date): On or about July 17,
2024
Review Dates*: August 12, 2024, September 12, 2024, October
14, 2024, November 12, 2024, December 12, 2024, January 13,
2025, February 12, 2025, March 12, 2025, April 14, 2025, May
12, 2025, June 12, 2025, July 14, 2025, August 12, 2025,
September 12, 2025, October 13, 2025, November 12, 2025,
December 12, 2025, January 12, 2026, February 12, 2026,
March 12, 2026 and April 13, 2026 (final Review Date)
Interest Payment Dates*: August 15, 2024, September 17,
2024, October 17, 2024, November 15, 2024, December 17,
2024, January 16, 2025, February 18, 2025, March 17, 2025,
April 17, 2025, May 15, 2025, June 17, 2025, July 17, 2025,
August 15, 2025, September 17, 2025, October 16, 2025,
November 17, 2025, December 17, 2025, January 15, 2026,
February 18, 2026, March 17, 2026 and the Maturity Date
Maturity Date*: April 16, 2026
Call Settlement Date*: If the notes are automatically called on
any Review Date (other than the first, second, third, fourth, fifth
and final Review Dates), the first Interest Payment Date
immediately following that Review Date
* 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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Automatic Call:
If the closing value of each Underlying on any Review Date
(other than the first, second, third, fourth, fifth and final Review
Dates) is greater than or equal to its Initial Value, the notes will
be automatically called for a cash payment, for each $1,000
principal amount note, equal to (a) $1,000 plus (b) the
Contingent Interest Payment applicable to that Review Date,
payable on the applicable Call Settlement Date. No further
payments will be made on the notes.
Payment at Maturity:
If the notes have not been automatically called 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 automatically called 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 automatically called and the Final
Value of any Underlying is less than its Trigger Value, you will
lose more than 40.00% 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 11,145.72 for
the Nasdaq-100® Technology Sector IndexSM, 2,148.267 for the
Russell 2000® Index and $71.26 for the Utilities 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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