Issuer: JPMorgan Chase Financial Company LLC, a direct, wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Indices: The NASDAQ-100 Index® (Bloomberg ticker: NDX), 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 $9.25 (equivalent to a Contingent Interest Rate of 11.10% per annum, payable at a rate of 0.925% 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: 11.10% per annum, payable at a rate of 0.925% per month
Interest Barrier: With respect to each Index, 70.00% of its Initial Value, which is 12,979.421 for the NASDAQ-100 Index®, 1,443.4574 for the Russell 2000® Index and 3,741.073 for the S&P 500® Index
Trigger Value: With respect to each Index, 65.00% of its Initial Value, which is 12,052.3195 for the NASDAQ-100 Index®, 1,340.3533 for the Russell 2000® Index and 3,473.8535 for the S&P 500® Index
Pricing Date: August 12, 2024
Original Issue Date (Settlement Date): On or about August 15, 2024
Review Dates*: 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 and February 12, 2026 (the “final Review Date”)
Interest Payment Dates*: 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 and the Maturity Date
Maturity Date*: February 18, 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 35.00% 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 18,542.03 for the NASDAQ-100 Index®, 2,062.082 for the Russell 2000® Index and 5,344.39 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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