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 $25.00 (equivalent to a Contingent Interest Rate of 10.00% per annum, payable at a rate of 2.50% per quarter).
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 2.50% per quarter
Interest Barrier/Trigger Value: With respect to each Index, 70.00% of its Initial Value, which is 7,020.797 for the Nasdaq-100® Technology Sector IndexSM, 1,466.6351 for the Russell 2000® Index and 3,804.101 for the S&P 500® Index
Pricing Date: August 13, 2024
Original Issue Date (Settlement Date): On or about August 16, 2024
Review Dates*: November 13, 2024, February 13, 2025, May 13, 2025, August 13, 2025, November 13, 2025 and February 13, 2026 (the “final Review Date”)
Interest Payment Dates*: November 18, 2024, February 19, 2025, May 16, 2025, August 18, 2025, November 18, 2025 and the Maturity Date
Maturity Date*: February 19, 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 final Interest Payment Date) 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 10,029.71 for the Nasdaq-100® Technology Sector IndexSM, 2,095.193 for the Russell 2000® Index and 5,434.43 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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