Form 424B2 - Prospectus [Rule 424(b)(2)]

August 2, 2024  Registration Statement Nos. 333-270004 and 333-270004-01; Rule 424(b)(2)

Pricing supplement to product supplement no. 4-I dated April 13, 2023, underlying supplement no. 1-I dated April 13, 2023, the prospectus and 

prospectus supplement, each dated April 13, 2023, and the prospectus addendum dated June 3, 2024 

JPMorgan Chase Financial Company LLC 

Structured Investments 

$710,000 

Callable Contingent Interest Notes Linked to the Least 

Performing of the Nasdaq-100

®

 Technology Sector 

Index

SM

, the Russell 2000

®

 Index and the S&P 500

®

Index due August 5, 2027 

Fully and Unconditionally Guaranteed by JPMorgan Chase & Co. 

●  The notes are designed for investors who seek a Contingent Interest Payment with respect to each Review Date for which 

the closing level of each of the Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the S&P 500

®

 Index, 

which we refer to as the Indices, is greater than or equal to 70.00% of its Initial Value, which we refer to as an Interest 

Barrier. 

●  The notes may be redeemed early, in whole but not in part, at our option on any of the Interest Payment Dates (other than 

the first, second and final Interest Payment Dates). 

●  The earliest date on which the notes may be redeemed early is November 7, 2024. 

●  Investors should be willing to accept the risk of losing some or all of their principal and the risk that no Contingent Interest 

Payment may be made with respect to some or all Review Dates. 

●  Investors should also be willing to forgo fixed interest and dividend payments, in exchange for the opportunity to receive 

Contingent Interest Payments. 

●  The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC, which we refer to as 

JPMorgan Financial, the payment on which is fully and unconditionally guaranteed by JPMorgan Chase & Co. Any 

payment on the notes is subject to the credit risk of JPMorgan Financial, as issuer of the notes, and the credit risk 

of JPMorgan Chase & Co., as guarantor of the notes. 

●  Payments on the notes are not linked to a basket composed of the Indices. Payments on the notes are linked to the 

performance of each of the Indices individually, as described below. 

●  Minimum denominations of $1,000 and integral multiples thereof 

●  The notes priced on August 2, 2024 and are expected to settle on or about August 7, 2024. 

●  CUSIP: 48135PSL6 

Investing in the notes involves a number of risks. See “Risk Factors” beginning on page S-2 of the accompanying 

prospectus supplement, Annex A to the accompanying prospectus addendum, “Risk Factors” beginning on page PS-11 of 

the accompanying product supplement and “Selected Risk Considerations” beginning on page PS-5 of this pricing 

supplement. 

Neither the Securities and Exchange Commission (the “SEC”) nor any state securities commission has approved or disapproved of 

the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement, 

underlying supplement, prospectus supplement, prospectus and prospectus addendum. Any representation to the contrary is a 

criminal offense. 

  Price to Public (1)  Fees and Commissions (2)  Proceeds to Issuer 

Per note  $1,000  $9.50  $990.50 

Total  $710,000  $6,745  $703,255 

(1) See “Supplemental Use of Proceeds” in this pricing supplement for information about the components of the price to public of the notes.

(2) J.P. Morgan Securities LLC, which we refer to as JPMS, acting as agent for JPMorgan Financial, will pay all of the sellin

g commissions 

of $9.50 per $1,000 principal amount note it receives from us to other 

affiliated or unaffiliated dealers. See “Plan of Distribution (Conflicts of 

Interest)” in the accompanying product supplement.

The estimated value of the notes, when the terms of the notes were set, was $962.70 per $1,000 principal amount note. See 

“The Estimated Value of the Notes” in this pricing supplement for additional information. 

The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency 

and are not obligations of, or guaranteed by, a bank. 

PS-1| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Key Terms 

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  Index

SM

(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 $8.5417 (equivalent to a 

Contingent Interest Rate of 10.25% per annum, payable at a 

rate of 0.85417% 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:  10.25%  per annum,  payable  at a 

rate of 0.85417% per month 

Interest  Barrier/Trigger  Value:  With  respect  to  each  Index, 

70.00% of its Initial Value, which is 6,637.057 for the Nasdaq-

100

®

  Technology  Sector  Index

SM

,  1,476.517  for  the  Russell 

2000

®

 Index and 3,742.592 for the S&P 500

®

 Index 

Pricing Date: August 2, 2024 

Original Issue Date (Settlement Date): On or about August 7, 

2024

Review  Dates*:  September  3,  2024,  October  2,  2024, 

November  4,  2024,  December  2,  2024,  January  2,  2025, 

February 3, 2025, March 3, 2025, April 2, 2025, May 2, 2025, 

June  2,  2025,  July  2,  2025,  August  4,  2025,  September  2, 

2025, October 2, 2025, November 3, 2025, December 2, 2025, 

January  2,  2026,  February  2,  2026,  March  2,  2026,  April  2, 

2026, May 4, 2026, June 2, 2026, July 2, 2026, August 3, 2026, 

September  2,  2026,  October  2,  2026,  November  2,  2026, 

December 2, 2026, January 4, 2027, February 2, 2027, March 

2, 2027, April 2, 2027, May 3, 2027, June 2, 2027, July 2, 2027 

and August 2, 2027 (the “final Review Date”) 

Interest  Payment  Dates*:  September  6,  2024,  October  7, 

2024, November 7, 2024, December 5, 2024, January 7, 2025, 

February 6, 2025, March 6, 2025, April 7, 2025, May 7, 2025, 

June  5,  2025,  July  8,  2025,  August  7,  2025,  September  5, 

2025, October 7, 2025, November 6, 2025, December 5, 2025, 

January  7,  2026,  February  5,  2026,  March  5,  2026,  April  8, 

2026, May 7, 2026, June 5, 2026, July 8, 2026, August 6, 2026, 

September  8,  2026,  October  7,  2026,  November  5,  2026, 

December 7, 2026, January 7, 2027, February 5, 2027, March 

5, 2027, April 7, 2027, May 6, 2027, June 7, 2027, July 8, 2027 

and the Maturity Date 

Maturity Date*: August 5, 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  

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 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 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 9,481.51 for the 

Nasdaq-100

®

 Technology Sector Index

SM

, 2,109.310 for the 

Russell 2000

®

 Index and 5,346.56 for the S&P 500

®

 Index 

Final  Value: With respect to each Index, the closing  level of 

that Index on the final Review Date 

PS-2| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Supplemental Terms of the Notes 

Any value of any underlier, and any values derived therefrom, included in this pricing supplement may be corrected, in the event of 

manifest error or inconsistency, by amendment of this pricing supplement and the corresponding terms of the notes. Notwithstanding 

anything to the contrary in the indenture governing the notes, that amendment will become effective without consent of the holders of 

the notes or any other party. 

How the Notes Work 

Payments in Connection with the First and Second Review Dates 

First and Second Review Dates 

Compare the closing level of each Index to its Interest Barrier on each Review Date. 

The closing level of each Index is greater than or 

equal to its Interest Barrier. 

You will receive a Contingent Interest Payment on the 

applicable Interest Payment Date. 

Proceed to the next Review Date. 

The closing level of any Index is less than its Interest 

Barrier. 

No Contingent Interest Payment will be made with respect to 

the applicable Review Date. 

Proceed to the next Review Date. 

Payments in Connection with Review Dates (Other than the First, Second and Final Review Dates) 

 Review Dates (Other than the First, Second and Final Review Dates) 

Compare the closing level of each Index to its Interest Barrier on each Review Date until the final Review Date or any early 

redemption.

Early Redemption 

No Early Redemption 

The closing level of each 

Index is greater than or 

equal to its Interest 

Barrier. 

You will receive (a) $1,000 plus (b) a 

Contingent Interest Payment on the 

applicable Interest Payment Date. 

No further payments will be made on the 

notes. 

You will receive a Contingent Interest 

Payment on the applicable Interest 

Payment Date. 

Proceed to the next Review Date. 

The closing level of any 

Index is less than its 

Interest Barrier. 

You will receive $1,000 on the applicable 

Interest Payment Date. 

No further payments will be made on the 

notes. 

No Contingent Interest Payment will be 

made with respect to the applicable 

Review Date. 

Proceed to the next Review Date. 

PS-3| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Payment at Maturity If the Notes Have Not Been Redeemed Early 

Review Dates 

Preceding the Final 

Review Date 

Final Review Date 

Payment at Maturity 

The notes have not 

been redeemed early 

prior to the final Review 

Date. 

The Final Value of each Index is greater 

than or equal to its Trigger Value. 

You will receive (a) $1,000 plus (b) the 

Contingent Interest Payment applicable 

to the final Review Date. 

Proceed to maturity 

The Final Value of any Index is less than its 

Trigger Value. 

You will receive: 

$1,000 + ($1,000 × Least Performing 

Index Return) 

Under these circumstances, you will 

lose some or all of your principal 

amount at maturity. 

PS-4| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Total Contingent Interest Payments 

The table below illustrates the hypothetical total Contingent Interest Payments per $1,000 principal amount note over the term of the 

notes based on the Contingent Interest Rate of 10.25% per annum, depending on how many Contingent Interest Payments are made 

prior to early redemption or maturity.  

Number of Contingent 

Interest Payments 

Total Contingent Interest 

Payments 

36  $307.5000 

35  $298.9583 

34  $290.4167 

33  $281.8750 

32  $273.3333 

31  $264.7917 

30  $256.2500 

29  $247.7083 

28  $239.1667 

27  $230.6250 

26  $222.0833 

25  $213.5417 

24  $205.0000 

23  $196.4583 

22  $187.9167 

21  $179.3750 

20  $170.8333 

19  $162.2917 

18  $153.7500 

17  $145.2083 

16  $136.6667 

15  $128.1250 

14  $119.5833 

13  $111.0417 

12  $102.5000 

11  $93.9583 

10  $85.4167 

9  $76.8750 

8  $68.3333 

7  $59.7917 

6  $51.2500 

5  $42.7083 

4  $34.1667 

3  $25.6250 

2  $17.0833 

1  $8.5417 

0  $0.0000 

Hypothetical Payout Examples 

The following examples illustrate payments on the notes linked to three hypothetical Indices, assuming a range of performances for the 

hypothetical Least Performing Index on the Review Dates. 

The hypothetical payments set forth below assume the following: 

●  the notes have not been redeemed early; 

●  an Initial Value for the Least Performing Index of 100.00; 

●  an Interest Barrier and a Trigger Value for the Least Performing Index of 70.00 (equal to 70.00% of its hypothetical Initial 

Value); and 

●  a Contingent Interest Rate of 10.25% per annum (payable at a rate of 0.85417% per month). 

PS-5| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

The hypothetical Initial Value of the Least Performing Index of 100.00 has been chosen for illustrative purposes only and does not 

represent the actual Initial Value of any Index. 

The actual Initial Value of each Index is the closing level of that Index on the Pricing Date and is specified under “Key Terms - Initial 

Value” in this pricing supplement. For historical data regarding the actual closing levels of each Index, please see the historical 

information set forth under “The Indices” in this pricing supplement. 

Each hypothetical payment set forth below is for illustrative purposes only and may not be the actual payment applicable to a purchaser 

of the notes. The numbers appearing in the following examples have been rounded for ease of analysis. 

Example 1 — Notes have NOT been redeemed early and the Final Value of the Least Performing Index is greater 

than or equal to its Trigger Value. 

Date 

Closing Level of Least 

Performing Index 

Payment (per $1,000 principal amount note) 

First Review Date  95.00  $8.5417 

Second Review Date  85.00  $8.5417 

Third through Thirty-Fifth 

Review Dates 

Less than Interest 

Barrier 

$0

Final Review Date  90.00  $1,008.5417 

  Total Payment  $1,025.625 (2.5625% return) 

Because the notes have not been redeemed early and the Final Value of the Least Performing Index is greater than or equal to its 

Trigger Value, the payment at maturity, for each $1,000 principal amount note, will be $1,008.5417 (or $1,000 plus the Contingent 

Interest Payment applicable to the final Review Date). When added to the Contingent Interest Payments received with respect to the 

prior Review Dates, the total amount paid, for each $1,000 principal amount note, is $1,025.625. 

Example 2 — Notes have NOT been redeemed early and the Final Value of the Least Performing Index is less than 

its Trigger Value. 

Date 

Closing Level of Least 

Performing Index 

Payment (per $1,000 principal amount note) 

First Review Date  45.00  $0 

Second Review Date  65.00  $0 

Third through Thirty-Fifth 

Review Dates 

Less than Interest 

Barrier 

$0

Final Review Date  40.00  $400.00 

  Total Payment   $400.00 (-60.00% return) 

Because the notes have not been redeemed early, the Final Value of the Least Performing Index is less than its Trigger Value and the 

Least Performing Index Return is -60.00%, the payment at maturity will be $400.00 per $1,000 principal amount note, calculated as 

follows: 

$1,000 + [$1,000 × (-60.00%)] = $400.00 

The hypothetical returns and hypothetical payments on the notes shown above apply only if you hold the notes for their entire term. 

These hypotheticals do not reflect the fees or expenses that would be associated with any sale in the secondary market. If these fees 

and expenses were included, the hypothetical returns and hypothetical payments shown above would likely be lower. 

Selected Risk Considerations 

An investment in the notes involves significant risks. These risks are explained in more detail in the “Risk Factors” sections of the 

accompanying prospectus supplement and product supplement and in Annex A to the accompanying prospectus addendum. 

●  YOUR INVESTMENT IN THE NOTES MAY RESULT IN A LOSS — 

The notes do not guarantee any return of principal. If the notes have not been redeemed early and the Final Value of any Index is 

less than its Trigger Value, you will lose 1% of the principal amount of your notes for every 1% that the Final Value of the Least 

Performing Index is less than its Initial Value. Accordingly, under these circumstances, you will lose more than 30.00% of your 

principal amount at maturity and could lose all of your principal amount at maturity. 

PS-6| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

●  THE NOTES DO NOT GUARANTEE THE PAYMENT OF INTEREST AND MAY NOT PAY ANY INTEREST AT ALL — 

If the notes have not been redeemed early, we will make a Contingent Interest Payment with respect to a Review Date only if the 

closing level of each Index on that Review Date is greater than or equal to its Interest Barrier. If the closing level of any Index on 

that Review Date is less than its Interest Barrier, no Contingent Interest Payment will be made with respect to that Review Date. 

Accordingly, if the closing level of any Index on each Review Date is less than its Interest Barrier, you will not receive any interest 

payments over the term of the notes. 

●  CREDIT RISKS OF JPMORGAN FINANCIAL AND JPMORGAN CHASE & CO. — 

Investors are dependent on our and JPMorgan Chase & Co.’s ability to pay all amounts due on the notes. Any actual or potential 

change in our or JPMorgan Chase & Co.’s creditworthiness or credit spreads, as determined by the market for taking that credit 

risk, is likely to adversely affect the value of the notes. If we and JPMorgan Chase & Co. were to default on our payment 

obligations, you may not receive any amounts owed to you under the notes and you could lose your entire investment. 

●  AS A FINANCE SUBSIDIARY, JPMORGAN FINANCIAL HAS NO INDEPENDENT OPERATIONS AND HAS LIMITED ASSETS 

—

As a finance subsidiary of JPMorgan Chase & Co., we have no independent operations beyond the issuance and administration of 

our securities and the collection of intercompany obligations.  Aside from the initial capital contribution from JPMorgan Chase & 

Co., substantially all of our assets relate to obligations of JPMorgan Chase & Co. to make payments under loans made by us to 

JPMorgan Chase & Co. or under other intercompany agreements.  As a result, we are dependent upon payments from JPMorgan 

Chase & Co. to meet our obligations under the notes.  We are not a key operating subsidiary of JPMorgan Chase & Co. and in a 

bankruptcy or resolution of JPMorgan Chase & Co. we are not expected to have sufficient resources to meet our obligations in 

respect of the notes as they come due.  If JPMorgan Chase & Co. does not make payments to us and we are unable to make 

payments on the notes, you may have to seek payment under the related guarantee by JPMorgan Chase & Co., and that 

guarantee will rank pari passu with all other unsecured and unsubordinated obligations of JPMorgan Chase & Co.  For more 

information, see the accompanying prospectus addendum. 

●  THE APPRECIATION POTENTIAL OF THE NOTES IS LIMITED TO THE SUM OF ANY CONTINGENT INTEREST PAYMENTS 

THAT MAY BE PAID OVER THE TERM OF THE NOTES, 

regardless of any appreciation of any Index, which may be significant. You will not participate in any appreciation of any Index. 

●  POTENTIAL CONFLICTS — 

We and our affiliates play a variety of roles in connection with the notes. In performing these duties, our and JPMorgan Chase & 

Co.’s economic interests are potentially adverse to your interests as an investor in the notes. It is possible that hedging or trading 

activities of ours or our affiliates in connection with the notes could result in substantial returns for us or our affiliates while the 

value of the notes declines. Please refer to “Risk Factors — Risks Relating to Conflicts of Interest” in the accompanying product 

supplement. 

●  JPMORGAN CHASE & CO. IS CURRENTLY ONE OF THE COMPANIES THAT MAKE UP THE S&P 500

®

 INDEX,    

but JPMorgan Chase & Co. will not have any obligation to consider your interests in taking any corporate action that might affect 

the level of the S&P 500

®

 Index. 

●  AN INVESTMENT IN THE NOTES IS SUBJECT TO RISKS ASSOCIATED WITH SMALL CAPITALIZATION STOCKS WITH 

RESPECT TO THE RUSSELL 2000

®

 INDEX — 

Small capitalization companies may be less able to withstand adverse economic, market, trade and competitive conditions relative 

to larger companies. Small capitalization companies are less likely to pay dividends on their stocks, and the presence of a dividend 

payment could be a factor that limits downward stock price pressure under adverse market conditions. 

●  NON-U.S. SECURITIES RISK WITH RESPECT TO THE NASDAQ-100

®

 TECHNOLOGY SECTOR INDEX

SM

—

The non-U.S. equity securities included in the Nasdaq-100

®

 Technology Sector Index

SM

 have been issued by non-U.S. companies. 

Investments in securities linked to the value of such non-U.S. equity securities involve risks associated with the home countries 

and/or the securities markets in the home countries of the issuers of those non-U.S. equity securities. Also, with respect to equity 

securities that are not listed in the U.S., there is generally less publicly available information about companies in some of these 

jurisdictions than there is about U.S. companies that are subject to the reporting requirements of the SEC. 

●  RISKS ASSOCIATED WITH THE TECHNOLOGY SECTOR WITH RESPECT TO THE NASDAQ-100

®

 TECHNOLOGY SECTOR 

INDEX

SM

—

All or substantially all of the equity securities included in the Nasdaq-100

®

 Technology Sector Index

SM

 are issued by companies 

whose primary line of business is directly associated with the technology sector. As a result, the value of the notes may be subject 

to greater volatility and be more adversely affected by a single economic, political or regulatory occurrence affecting this sector 

than a different investment linked to securities of a more broadly diversified group of issuers. The value of stocks of technology 

companies and companies that rely heavily on technology is particularly vulnerable to rapid changes in technology product cycles, 

rapid product obsolescence, government regulation and competition, both domestically and internationally, including competition 

from foreign competitors with lower production costs. Stocks of technology companies and companies that rely heavily on 

technology, especially those of smaller, less-seasoned companies, tend to be more volatile than the overall market. Technology 

companies are heavily dependent on patent and intellectual property rights, the loss or impairment of which may adversely affect 

profitability. Additionally, companies in the technology sector may face dramatic and often unpredictable changes in growth rates 

and competition for the services of qualified personnel. These factors could affect the technology sector and could affect the value 

of the equity securities included in the Nasdaq-100

®

 Technology Sector Index

SM

 and the level of the Nasdaq-100

®

 Technology 

Sector Index

SM

 during the term of the notes, which may adversely affect the value of your notes. 

●  YOU ARE EXPOSED TO THE RISK OF DECLINE IN THE LEVEL OF EACH INDEX — 

Payments on the notes are not linked to a basket composed of the Indices and are contingent upon the performance of each 

individual Index. Poor performance by any of the Indices over the term of the notes may negatively affect whether you will receive a 

Contingent Interest Payment on any Interest Payment Date and your payment at maturity and will not be offset or mitigated by 

positive performance by any other Index. 

PS-7| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

●  YOUR PAYMENT AT MATURITY WILL BE DETERMINED BY THE LEAST PERFORMING INDEX. 

●  THE BENEFIT PROVIDED BY THE TRIGGER VALUE MAY TERMINATE ON THE FINAL REVIEW DATE — 

If the Final Value of any Index is less than its Trigger Value and the notes have not been redeemed early, the benefit provided by 

the Trigger Value will terminate and you will be fully exposed to any depreciation of the Least Performing Index. 

●  THE OPTIONAL EARLY REDEMPTION FEATURE MAY FORCE A POTENTIAL EARLY EXIT — 

If we elect to redeem your notes early, the term of the notes may be reduced to as short as approximately three months and you 

will not receive any Contingent Interest Payments after the applicable Interest Payment Date. There is no guarantee that you would 

be able to reinvest the proceeds from an investment in the notes at a comparable return and/or with a comparable interest rate for 

a similar level of risk. Even in cases where we elect to redeem your notes before maturity, you are not entitled to any fees and 

commissions described on the front cover of this pricing supplement. 

●  YOU WILL NOT RECEIVE DIVIDENDS ON THE SECURITIES INCLUDED IN ANY INDEX OR HAVE ANY RIGHTS WITH 

RESPECT TO THOSE SECURITIES. 

●  THE RISK OF THE CLOSING LEVEL OF AN INDEX FALLING BELOW ITS INTEREST BARRIER OR TRIGGER VALUE IS 

GREATER IF THE LEVEL OF THAT INDEX IS VOLATILE. 

●  LACK OF LIQUIDITY — 

The notes will not be listed on any securities exchange. Accordingly, the price at which you may be able to trade your notes is likely 

to depend on the price, if any, at which JPMS is willing to buy the notes. You may not be able to sell your notes. The notes are not 

designed to be short-term trading instruments. Accordingly, you should be able and willing to hold your notes to maturity. 

●  THE ESTIMATED VALUE OF THE NOTES IS LOWER THAN THE ORIGINAL ISSUE PRICE (PRICE TO PUBLIC) OF THE 

NOTES —  

The estimated value of the notes is only an estimate determined by reference to several factors. The original issue price of the 

notes exceeds the estimated value of the notes because costs associated with selling, structuring and hedging the notes are 

included in the original issue price of the notes. These costs include the selling commissions, the projected profits, if any, that our 

affiliates expect to realize for assuming risks inherent in hedging our obligations under the notes and the estimated cost of hedging 

our obligations under the notes. See “The Estimated Value of the Notes” in this pricing supplement. 

●  THE ESTIMATED VALUE OF THE NOTES DOES NOT REPRESENT FUTURE VALUES OF THE NOTES AND MAY DIFFER 

FROM OTHERS’ ESTIMATES — 

See “The Estimated Value of the Notes” in this pricing supplement. 

●  THE ESTIMATED VALUE OF THE NOTES IS DERIVED BY REFERENCE TO AN INTERNAL FUNDING RATE — 

The internal funding rate used in the determination of the estimated value of the notes may differ from the market-implied funding 

rate for vanilla fixed income instruments of a similar maturity issued by JPMorgan Chase & Co. or its affiliates.  Any difference may 

be based on, among other things, our and our affiliates’ view of the funding value of the notes as well as the higher issuance, 

operational and ongoing liability management costs of the notes in comparison to those costs for the conventional fixed income 

instruments of JPMorgan Chase & Co.  This internal funding rate is based on certain market inputs and assumptions, which may 

prove to be incorrect, and is intended to approximate the prevailing market replacement funding rate for the notes.  The use of an 

internal funding rate and any potential changes to that rate may have an adverse effect on the terms of the notes and any 

secondary market prices of the notes. See “The Estimated Value of the Notes” in this pricing supplement. 

●  THE VALUE OF THE NOTES AS PUBLISHED BY JPMS (AND WHICH MAY BE REFLECTED ON CUSTOMER ACCOUNT 

STATEMENTS) MAY BE HIGHER THAN THE THEN-CURRENT ESTIMATED VALUE OF THE NOTES FOR A LIMITED TIME 

PERIOD — 

We generally expect that some of the costs included in the original issue price of the notes will be partially paid back to you in 

connection with any repurchases of your notes by JPMS in an amount that will decline to zero over an initial predetermined period. 

See “Secondary Market Prices of the Notes” in this pricing supplement for additional information relating to this initial period. 

Accordingly, the estimated value of your notes during this initial period may be lower than the value of the notes as published by 

JPMS (and which may be shown on your customer account statements). 

●  SECONDARY MARKET PRICES OF THE NOTES WILL LIKELY BE LOWER THAN THE ORIGINAL ISSUE PRICE OF THE 

NOTES —   

Any secondary market prices of the notes will likely be lower than the original issue price of the notes because, among other 

things, secondary market prices take into account our internal secondary market funding rates for structured debt issuances and, 

also, because secondary market prices may exclude selling commissions, projected hedging profits, if any, and estimated hedging 

costs that are included in the original issue price of the notes. As a result, the price, if any, at which JPMS will be willing to buy the 

notes from you in secondary market transactions, if at all, is likely to be lower than the original issue price. Any sale by you prior to 

the Maturity Date could result in a substantial loss to you. 

●  SECONDARY MARKET PRICES OF THE NOTES WILL BE IMPACTED BY MANY ECONOMIC AND MARKET FACTORS —   

The secondary market price of the notes during their term will be impacted by a number of economic and market factors, which 

may either offset or magnify each other, aside from the selling commissions, projected hedging profits, if any, estimated hedging 

costs and the levels of the Indices. Additionally, independent pricing vendors and/or third party broker-dealers may publish a price 

for the notes, which may also be reflected on customer account statements. This price may be different (higher or lower) than the 

price of the notes, if any, at which JPMS may be willing to purchase your notes in the secondary market. See “Risk Factors — 

Risks Relating to the Estimated Value and Secondary Market Prices of the Notes — Secondary market prices of the notes will be 

impacted by many economic and market factors” in the accompanying product supplement. 

PS-8| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

The Indices 

The Nasdaq-100

®

 Technology Sector Index

SM

 is an equal-weighted, price-return index designed to measure the performance of the 

technology companies in the Nasdaq-100 Index

®

.  For additional information about the Nasdaq-100

®

 Technology Sector Index

SM

, see 

Annex A in this pricing supplement. 

The Russell 2000

®

 Index consists of the middle 2,000 companies included in the Russell 3000E

TM

 Index and, as a result of the index 

calculation methodology, consists of the smallest 2,000 companies included in the Russell 3000

®

 Index. The Russell 2000

®

 Index is 

designed to track the performance of the small capitalization segment of the U.S. equity market. For additional information about the 

Russell 2000

®

 Index, see “Equity Index Descriptions — The Russell Indices” in the accompanying underlying supplement. 

The S&P 500

®

 Index consists of stocks of 500 companies selected to provide a performance benchmark for the U.S. equity markets. 

For additional information about the S&P 500

®

 Index, see “Equity Index Descriptions — The S&P U.S. Indices” in the accompanying 

underlying supplement. 

Historical Information 

The following graphs set forth the historical performance of each Index based on the weekly historical closing levels from January 4, 

2019 through August 2, 2024. The closing level of the Nasdaq-100

®

 Technology Sector Index

SM

 on August 2, 2024 was 9,481.51. The 

closing level of the Russell 2000

®

 Index on August 2, 2024 was 2,109.310. The closing level of the S&P 500

®

 Index on August 2, 2024 

was 5,346.56. We obtained the closing levels above and below from the Bloomberg Professional

®

 service (“Bloomberg”), without 

independent verification.  

The historical closing levels of each Index should not be taken as an indication of future performance, and no assurance can be given 

as to the closing level of any Index on any Review Date. There can be no assurance that the performance of the Indices will result in 

the return of any of your principal amount or the payment of any interest. 

Historical Performance of the Nasdaq-100

®

 Technology Sector Index

SM

Source: Bloomberg 

PS-9| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Historical Performance of the Russell 2000

®

 Index 

Source: Bloomberg 

Historical Performance of the S&P 500

®

 Index 

Source: Bloomberg 

Tax Treatment 

You should review carefully the section entitled “Material U.S. Federal Income Tax Consequences” in the accompanying product 

supplement no. 4-I. In determining our reporting responsibilities we intend to treat (i) the notes for U.S. federal income tax purposes as 

prepaid forward contracts with associated contingent coupons and (ii) any Contingent Interest Payments as ordinary income, as 

described in the section entitled “Material U.S. Federal Income Tax Consequences — Tax Consequences to U.S. Holders — Notes 

Treated as Prepaid Forward Contracts with Associated Contingent Coupons” in the accompanying product supplement. Based on the 

advice of Davis Polk & Wardwell LLP, our special tax counsel, we believe that this is a reasonable treatment, but that there are other 

reasonable treatments that the IRS or a court may adopt, in which case the timing and character of any income or loss on the notes 

could be materially affected. In addition, in 2007 Treasury and the IRS released a notice requesting comments on the U.S. federal 

income tax treatment of “prepaid forward contracts” and similar instruments. The notice focuses in particular on whether to require 

investors in these instruments to accrue income over the term of their investment. It also asks for comments on a number of related 

topics, including the character of income or loss with respect to these instruments and the relevance of factors such as the nature of the 

PS-10| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

underlying property to which the instruments are linked. While the notice requests comments on appropriate transition rules and 

effective dates, any Treasury regulations or other guidance promulgated after consideration of these issues could materially affect the 

tax consequences of an investment in the notes, possibly with retroactive effect. The discussions above and in the accompanying 

product supplement do not address the consequences to taxpayers subject to special tax accounting rules under Section 451(b) of the 

Code. You should consult your tax adviser regarding the U.S. federal income tax consequences of an investment in the notes, including 

possible alternative treatments and the issues presented by the notice described above. 

Non-U.S. Holders — Tax Considerations.  The U.S. federal income tax treatment of Contingent Interest Payments is uncertain, and 

although we believe it is reasonable to take a position that Contingent Interest Payments are not subject to U.S. withholding tax (at 

least if an applicable Form W-8 is provided), it is expected that withholding agents will (and we, if we are the withholding agent, intend 

to) withhold on any Contingent Interest Payment paid to a Non-U.S. Holder generally at a rate of 30% or at a reduced rate specified by 

an applicable income tax treaty under an “other income” or similar provision. We will not be required to pay any additional amounts with 

respect to amounts withheld. In order to claim an exemption from, or a reduction in, the 30% withholding tax, a Non-U.S. Holder of the 

notes must comply with certification requirements to establish that it is not a U.S. person and is eligible for such an exemption or 

reduction under an applicable tax treaty. If you are a Non-U.S. Holder, you should consult your tax adviser regarding the tax treatment 

of the notes, including the possibility of obtaining a refund of any withholding tax and the certification requirement described above. 

Section 871(m) of the Code and Treasury regulations promulgated thereunder (“Section 871(m)”) generally impose a 30% withholding 

tax (unless an income tax treaty applies) on dividend equivalents paid or deemed paid to Non-U.S. Holders with respect to certain 

financial instruments linked to U.S. equities or indices that include U.S. equities. Section 871(m) provides certain exceptions to this 

withholding regime, including for instruments linked to certain broad-based indices that meet requirements set forth in the applicable 

Treasury regulations. Additionally, a recent IRS notice excludes from the scope of Section 871(m) instruments issued prior to January 

1, 2027 that do not have a delta of one with respect to underlying securities that could pay U.S.-source dividends for U.S. federal 

income tax purposes (each an “Underlying Security”). Based on certain determinations made by us, our special tax counsel is of the 

opinion that Section 871(m) should not apply to the notes with regard to Non-U.S. Holders. Our determination is not binding on the IRS, 

and the IRS may disagree with this determination. Section 871(m) is complex and its application may depend on your particular 

circumstances, including whether you enter into other transactions with respect to an Underlying Security. You should consult your tax 

adviser regarding the potential application of Section 871(m) to the notes. 

In the event of any withholding on the notes, we will not be required to pay any additional amounts with respect to amounts so withheld. 

The Estimated Value of the Notes 

The estimated value of the notes set forth on the cover of this pricing supplement is equal to the sum of the values of the following 

hypothetical components: (1) a fixed-income debt component with the same maturity as the notes, valued using the internal funding 

rate described below, and (2) the derivative or derivatives underlying the economic terms of the notes. The estimated value of the notes 

does not represent a minimum price at which JPMS would be willing to buy your notes in any secondary market (if any exists) at any 

time. The internal funding rate used in the determination of the estimated value of the notes may differ from the market-implied funding 

rate for vanilla fixed income instruments of a similar maturity issued by JPMorgan Chase & Co. or its affiliates.  Any difference may be 

based on, among other things, our and our affiliates’ view of the funding value of the notes as well as the higher issuance, operational 

and ongoing liability management costs of the notes in comparison to those costs for the conventional fixed income instruments of 

JPMorgan Chase & Co. This internal funding rate is based on certain market inputs and assumptions, which may prove to be incorrect, 

and is intended to approximate the prevailing market replacement funding rate for the notes.  The use of an internal funding rate and 

any potential changes to that rate may have an adverse effect on the terms of the notes and any secondary market prices of the notes.  

For additional information, see “Selected Risk Considerations — The Estimated Value of the Notes Is Derived by Reference to an 

Internal Funding Rate” in this pricing supplement. 

The value of the derivative or derivatives underlying the economic terms of the notes is derived from internal pricing models of our 

affiliates. These models are dependent on inputs such as the traded market prices of comparable derivative instruments and on various 

other inputs, some of which are market-observable, and which can include volatility, dividend rates, interest rates and other factors, as 

well as assumptions about future market events and/or environments. Accordingly, the estimated value of the notes is determined when 

the terms of the notes are set based on market conditions and other relevant factors and assumptions existing at that time. 

The estimated value of the notes does not represent future values of the notes and may differ from others’ estimates. Different pricing 

models and assumptions could provide valuations for the notes that are greater than or less than the estimated value of the notes. In 

addition, market conditions and other relevant factors in the future may change, and any assumptions may prove to be incorrect. On 

future dates, the value of the notes could change significantly based on, among other things, changes in market conditions, our or 

JPMorgan Chase & Co.’s creditworthiness, interest rate movements and other relevant factors, which may impact the price, if any, at 

which JPMS would be willing to buy notes from you in secondary market transactions. 

PS-11| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

The estimated value of the notes is lower than the original issue price of the notes because costs associated with selling, structuring 

and hedging the notes are included in the original issue price of the notes. These costs include the selling commissions paid to JPMS 

and other affiliated or unaffiliated dealers, the projected profits, if any, that our affiliates expect to realize for assuming risks inherent in 

hedging our obligations under the notes and the estimated cost of hedging our obligations under the notes. Because hedging our 

obligations entails risk and may be influenced by market forces beyond our control, this hedging may result in a profit that is more or 

less than expected, or it may result in a loss. A portion of the profits, if any, realized in hedging our obligations under the notes may be 

allowed to other affiliated or unaffiliated dealers, and we or one or more of our affiliates will retain any remaining hedging profits. See 

“Selected Risk Considerations — The Estimated Value of the Notes Is Lower Than the Original Issue Price (Price to Public) of the 

Notes” in this pricing supplement. 

Secondary Market Prices of the Notes 

For information about factors that will impact any secondary market prices of the notes, see “Risk Factors — Risks Relating to the 

Estimated Value and Secondary Market Prices of the Notes — Secondary market prices of the notes will be impacted by many 

economic and market factors” in the accompanying product supplement. In addition, we generally expect that some of the costs 

included in the original issue price of the notes will be partially paid back to you in connection with any repurchases of your notes by 

JPMS in an amount that will decline to zero over an initial predetermined period. These costs can include selling commissions, 

projected hedging profits, if any, and, in some circumstances, estimated hedging costs and our internal secondary market funding rates 

for structured debt issuances. This initial predetermined time period is intended to be the shorter of six months and one-half of the 

stated term of the notes. The length of any such initial period reflects the structure of the notes, whether our affiliates expect to earn a 

profit in connection with our hedging activities, the estimated costs of hedging the notes and when these costs are incurred, as 

determined by our affiliates. See “Selected Risk Considerations — The Value of the Notes as Published by JPMS (and Which May Be 

Reflected on Customer Account Statements) May Be Higher Than the Then-Current Estimated Value of the Notes for a Limited Time 

Period” in this pricing supplement. 

Supplemental Use of Proceeds 

The notes are offered to meet investor demand for products that reflect the risk-return profile and market exposure provided by the 

notes. See “How the Notes Work” and “Hypothetical Payout Examples” in this pricing supplement for an illustration of the risk-return 

profile of the notes and “The Indices” in this pricing supplement for a description of the market exposure provided by the notes. 

The original issue price of the notes is equal to the estimated value of the notes plus the selling commissions paid to JPMS and other 

affiliated or unaffiliated dealers, plus (minus) the projected profits (losses) that our affiliates expect to realize for assuming risks inherent 

in hedging our obligations under the notes, plus the estimated cost of hedging our obligations under the notes. 

Validity of the Notes and the Guarantee 

In the opinion of Davis Polk & Wardwell LLP, as special products counsel to JPMorgan Financial and JPMorgan Chase & Co., when the 

notes offered by this pricing supplement have been issued by JPMorgan Financial pursuant to the indenture, the trustee and/or paying 

agent has made, in accordance with the instructions from JPMorgan Financial, the appropriate entries or notations in its records relating 

to the master global note that represents such notes (the “master note”), and such notes have been delivered against payment as 

contemplated herein, such notes will be valid and binding obligations of JPMorgan Financial and the related guarantee will constitute a 

valid and binding obligation of JPMorgan Chase & Co., enforceable in accordance with their terms, subject to applicable bankruptcy, 

insolvency and similar laws affecting creditors’ rights generally, concepts of reasonableness and equitable principles of general 

applicability (including, without limitation, concepts of good faith, fair dealing and the lack of bad faith), provided that such counsel 

expresses no opinion as to (i) the effect of fraudulent conveyance, fraudulent transfer or similar provision of applicable law on the 

conclusions expressed above or (ii) any provision of the indenture that purports to avoid the effect of fraudulent conveyance, fraudulent 

transfer or similar provision of applicable law by limiting the amount of JPMorgan Chase & Co.’s obligation under the related guarantee. 

This opinion is given as of the date hereof and is limited to the laws of the State of New York, the General Corporation Law of the State 

of Delaware and the Delaware Limited Liability Company Act. In addition, this opinion is subject to customary assumptions about the 

trustee’s authorization, execution and delivery of the indenture and its authentication of the master note and the validity, binding nature 

and enforceability of the indenture with respect to the trustee, all as stated in the letter of such counsel dated February 24, 2023, which 

was filed as an exhibit to the Registration Statement on Form S-3 by JPMorgan Financial and JPMorgan Chase & Co. on February 24, 

2023. 

PS-12| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Additional Terms Specific to the Notes 

You should read this pricing supplement together with the accompanying prospectus, as supplemented by the accompanying 

prospectus supplement relating to our Series A medium-term notes of which these notes are a part, the accompanying prospectus 

addendum and the more detailed information contained in the accompanying product supplement and the accompanying underlying 

supplement. This pricing supplement, together with the documents listed below, contains the terms of the notes and supersedes all 

other prior or contemporaneous oral statements as well as any other written materials including preliminary or indicative pricing terms, 

correspondence, trade ideas, structures for implementation, sample structures, fact sheets, brochures or other educational materials of 

ours. You should carefully consider, among other things, the matters set forth in the “Risk Factors” sections of the accompanying 

prospectus supplement and the accompanying product supplement and in Annex A to the accompanying prospectus addendum, as the 

notes involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting and 

other advisers before you invest in the notes. 

You may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, by reviewing 

our filings for the relevant date on the SEC website): 

●  Product supplement no. 4-I dated April 13, 2023: 

http://www.sec.gov/Archives/edgar/data/19617/000121390023029539/ea152803_424b2.pdf 

●  Underlying supplement no. 1-I dated April 13, 2023: 

http://www.sec.gov/Archives/edgar/data/19617/000121390023029543/ea151873_424b2.pdf 

●  Prospectus supplement and prospectus, each dated April 13, 2023: 

http://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf 

●  Prospectus addendum dated June 3, 2024: 

http://www.sec.gov/Archives/edgar/data/1665650/000095010324007599/dp211753_424b3.htm 

Our Central Index Key, or CIK, on the SEC website is 1665650, and JPMorgan Chase & Co.’s CIK is 19617. As used in this pricing 

supplement, “we,” “us” and “our” refer to JPMorgan Financial. 

PS-13| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

Annex A 

The Nasdaq-100

®

 Technology Sector Index

SM

All information contained in this pricing supplement regarding the Nasdaq-100

®

 Technology Sector Index

SM

, including, without limitation, 

its make-up, method of calculation and changes in its components, has been derived from publicly available information, without 

independent verification.  This information reflects the policies of, and is subject to change by, The Nasdaq Stock Market, Inc. 

(“Nasdaq”).  The Nasdaq-100

®

 Technology Sector Index

SM

 was developed by Nasdaq and is calculated, maintained and published by 

The Nasdaq OMX Group, Inc. (“Nasdaq OMX”).  Neither Nasdaq nor Nasdaq OMX has any obligation to continue to publish, and may 

discontinue publication of, the Nasdaq-100

®

 Technology Sector Index

SM

.

The Nasdaq-100

®

 Technology Sector Index

SM

 began on February 22, 2006 at a base value of 1,000.00.  The Nasdaq-100

®

 Technology 

Sector Index

SM

 is reported by Bloomberg, L.P. under the ticker symbol “NDXT.” 

The Nasdaq-100

®

 Technology Sector Index

SM

 is an equal-weighted, price-return index designed to measure the performance of the 

technology companies in the Nasdaq-100 Index

®

.

Security Eligibility Criteria 

The Nasdaq-100

®

 Technology Sector Index

SM

 contains securities of the Nasdaq-100 Index

®

 which are classified as Technology 

according to the Industry Classification Benchmark (“ICB”).  The eligibility for the Nasdaq-100

®

 Technology Sector Index

SM

is

determined in a 2-step process and the security has to meet both criteria in order to become eligible for the Nasdaq-100

®

 Technology 

Sector Index

SM

.  For additional information about the Nasdaq-100 Index

®

, including the methodology for inclusion in the Nasdaq-100 

Index

®

, see “Equity Index Descriptions — The Nasdaq-100 Index

®

” in the accompanying underlying supplement. 

Parent Index 

The security must be included in the Nasdaq-100 Index

®

, which includes 100 of the largest domestic and international non-financial 

companies listed on the Nasdaq. 

Industry or Sector Eligibility 

The company must be classified as a Technology Company (any company classified under the Technology Industry) according to ICB.   

Constituent Selection 

All securities that meet the applicable Security Eligibility Criteria described above are included in the Nasdaq-100

®

 Technology Sector 

Index

SM

.

Constituent Weighting 

The Nasdaq-100

®

 Technology Sector Index

SM

 employs an equal weighting methodology such that each company’s Index market value 

is rebalanced quarterly to an equal-dollar value corresponding to an equal percent weight of the Nasdaq-100

®

 Technology Sector 

Index

SM

’s aggregate market value.  Index Shares are calculated by dividing this equal-dollar market value for each Index Security by 

the corresponding Last Sale Price of the security at the close of trading on the third Friday in March, June, September, and December.  

In the case of multiple share classes of a company being included in the Nasdaq-100

®

 Technology Sector Index

SM

, the equal-weighted 

market value will be divided equally among the securities of that company. 

Index Calculation 

The Nasdaq-100

®

 Technology Sector Index

SM

 is an equal weighted, price return index.  The Nasdaq-100

®

 Technology Sector Index

SM

is calculated without regard to ordinary dividends, however, it does reflect special dividends.  The formula is as follows: 

(1)  “Index Market Value” shall be calculated as follows: 

  “Index Security” shall mean a security that has been selected for membership in the Nasdaq-100

®

 Technology Sector Index

SM

,

having met all applicable eligibility requirements. 

n = Number of Index Securities included in the Nasdaq-100

®

 Technology Sector Index

SM

qi = Number of shares of Index Security i applied in the Nasdaq-100

®

 Technology Sector Index

SM

.

pi = Price in quote currency of Index Security i. Depending on the time of the calculation, the price can be either of the following: 

PS-14| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

  a.  The Start of Day (SOD) price which is the previous index calculation day’s (t-1) closing price for Index Security i adjusted 

for corporate action(s) occurring prior to market open on date t, if any, for the SOD calculation only; 

  b.  The intraday price which reflects the current trading price received from the Nasdaq during the index calculation day; 

  c.  The End of Day (EOD) price refers to the Last Sale Price, which refers to the last regular-way trade reported on Nasdaq; 

or

  d.  The Volume Weighted Average Price (VWAP) 

  t = current index calculation day 

t-1 = current index calculation day 

(2)  “PR Index Divisor” should be calculated as follows: 

The Index Divisor serves the purpose of scaling an Index Market Value to lower order of magnitude, which is recommended for 

reporting purposes. The Index Divisor is adjusted to ensure that changes in an Index Security’s price or shares either by corporate 

actions or index participation which occur outside of trading hours do not affect the index value. An Index Divisor change occurs after 

the close of the Nasdaq-100

®

 Technology Sector Index

SM

.

Index Maintenance 

Deletion Policy 

If a component of the Nasdaq-100

®

 Technology Sector Index

SM

 is removed from the Nasdaq-100 Index

®

 for any reason, it is also 

removed from the Nasdaq-100

®

 Technology Sector Index

SM

 at the same time. 

Replacement Policy 

When a component of the Nasdaq-100 Index

®

 that is classified as Technology according to ICB is removed from the Nasdaq-100 

Index, it is also removed from the Nasdaq-100 Technology Sector Index. As such, if the replacement company being added to the 

Nasdaq-100 Index

®

 is classified as Technology according to ICB, it is added to the Nasdaq-100

®

 Technology Sector Index

SM

 and will 

assume the weight of the removed company on the Index effective date.  

When a component of the Nasdaq-100 Index

®

 that is not classified as Technology according to ICB is removed and the replacement 

company being added to the Nasdaq-100 Index is classified as Technology according to ICB, the replacement company is considered 

for addition to the Nasdaq-100 Technology Sector Index at the next quarterly Rebalance. When a component of the Nasdaq-100 Index 

that is classified as Technology according to ICB is removed from the Nasdaq-100 Index and the replacement company being added to 

the Nasdaq-100 Index

®

 is not classified as Technology according to ICB, the company is removed from the Nasdaq-100

®

 Technology 

Sector Index

SM

 and the divisor of the Nasdaq-100

®

 Technology Sector Index

SM

 is adjusted to ensure Index continuity. 

Additions Policy 

If a security is added to the Nasdaq-100 Index

®

 for any reason, it may be added to the Nasdaq-100

®

 Technology Sector Index

SM

 at the 

same time. 

Corporate Actions 

In the interim periods between scheduled index reconstitution and rebalance events, individual Index securities may be the subject to a 

variety of corporate actions and events that require maintenance and adjustments to the Index.  

In certain cases, corporate actions and events are handled according to the weighting scheme or other index construction techniques 

employed. Wherever alternate methods are described, the Index will follow the “Non-Market Cap Corporate Action Method.” 

Index Share Adjustments 

Other than as a direct result of corporate actions, the Nasdaq-100

®

 Technology Sector Index

SM

 does not normally experience share 

adjustments between scheduled index rebalance and reconstitution events. 

License Agreement 

JPMorgan Chase & Co. or its affiliate intends to enter into a non-exclusive license agreement with Nasdaq providing for the license to it 

and certain of its affiliates or subsidiaries, including JPMorgan Financial, with a non-exclusive license and, for a fee, with the right to use 

the Nasdaq-100

®

 Technology Sector Index

SM

 in connection with certain securities, including the notes.  

The license agreement with Nasdaq provides that the following language must be stated in this pricing supplement:  

PS-15| Structured Investments 

Callable Contingent Interest Notes Linked to the Least Performing of the 

Nasdaq-100

®

 Technology Sector Index

SM

, the Russell 2000

®

 Index and the 

S&P 500

®

 Index 

The notes are not sponsored, endorsed, sold or promoted by Nasdaq Inc. or its affiliates (Nasdaq, with its affiliates, are referred to as 

the “Corporations”).  The Corporations have not passed on the legality or suitability of, or the accuracy or adequacy of descriptions and 

disclosures relating to, the notes.  The Corporations make no representation or warranty, express or implied, to the owners of the notes 

or any member of the public regarding the advisability of investing in securities generally or in the notes particularly, or the ability of the 

Nasdaq-100

®

 Technology Sector Index

SM

 to track general stock market performance.  The Corporations’ only relationship to the Issuer, 

the Guarantor (if applicable) and their affiliates is in the licensing of Nasdaq

®

, Nasdaq-100

®

 and Nasdaq-100 Index

®

 registered 

trademarks, service marks and certain trade names of the Corporations and the use of the Nasdaq-100

®

 Technology Sector Index

SM

which is determined, composed and calculated by Nasdaq without regard to the Issuer or the Guarantor (if applicable) or the notes.  

Nasdaq has no obligation to take the needs of the Issuer or the Guarantor (if applicable) or the owners of the notes into consideration in 

determining, composing or calculating the Nasdaq-100

®

 Technology Sector Index

SM

.  The Corporations are not responsible for and 

have not participated in the determination of the timing of, prices at, or quantities of the notes to be issued or in the determination or 

calculation of the equation by which the notes are to be converted into cash.  The Corporations have no liability in connection with the 

administration, marketing or trading of the notes.  

THE CORPORATIONS DO NOT GUARANTEE THE ACCURACY AND/OR UNINTERRUPTED CALCULATION OF THE NASDAQ-

100

®

 TECHNOLOGY SECTOR INDEX

SM

 OR ANY DATA INCLUDED THEREIN.  THE CORPORATIONS MAKE NO WARRANTY, 

EXPRESS OR IMPLIED, AS TO RESULTS TO BE OBTAINED BY THE ISSUER, THE GUARANTOR (IF APPLICABLE), OWNERS 

OF THE NOTES, OR ANY OTHER PERSON OR ENTITY FROM THE USE OF THE NASDAQ-100

®

 TECHNOLOGY SECTOR 

INDEX

SM

 OR ANY DATA INCLUDED THEREIN.  THE CORPORATIONS MAKE NO EXPRESS OR IMPLIED WARRANTIES, AND 

EXPRESSLY DISCLAIM ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE 

WITH RESPECT TO THE NASDAQ-100

®

 TECHNOLOGY SECTOR INDEX

SM

 OR ANY DATA INCLUDED THEREIN.  WITHOUT 

LIMITING ANY OF THE FOREGOING, IN NO EVENT SHALL THE CORPORATIONS HAVE ANY LIABILITY FOR ANY LOST 

PROFITS OR SPECIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES, EVEN IF NOTIFIED OF THE 

POSSIBILITY OF SUCH DAMAGES. 

Calculation of Filing Fee Tables
S-3
JPMORGAN CHASE & CO

Narrative Disclosure

The maximum aggregate offering price of the securities to which the prospectus relates is $710,000. The prospectus is a final prospectus for the related offering.

Submission	Aug. 06, 2024
Submission [Line Items]
Central Index Key	0000019617
Registrant Name	JPMORGAN CHASE & CO
Registration File Number	333-270004
Form Type	S-3
Submission Type	424B2
Fee Exhibit Type	EX-FILING FEES