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Name | Symbol | Market | Type |
---|---|---|---|
JP Morgan Alerian MLP | AMEX:AMJ | AMEX | Bond |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 28.30 | 0 | 01:00:00 |
June , 2024
|
Registration Statement Nos. 333-270004 and 333-270004-01; Rule 424(b)(2)
|
JPMorgan Chase Financial Company LLC
Structured Investments
Capped Dual Directional Buffered Equity Notes Linked
to the Lesser Performing of the Russell 2000® Index
and the S&P 500® Index due January 2, 2026
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
●The notes are designed for investors who seek a capped, unleveraged exposure to any appreciation (with a Maximum Upside
Return of at least 31.90%), or a capped, unleveraged return equal to the absolute value of any depreciation (up to the Buffer
Amount of 15.00%), of the lesser performing of the Russell 2000® Index and the S&P 500® Index, which we refer to as the
Indices, at maturity.
●Investors should be willing to forgo interest and dividend payments and be willing to lose up to 85.00% of their principal
amount at maturity.
●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 are expected to price on or about June 28, 2024 and are expected to settle on or about July 3, 2024.
●CUSIP: 48135N3D6
|
|
Price to Public (1)
|
Fees and Commissions (2)
|
Proceeds to Issuer
|
Per note
|
$1,000
|
$
|
$
|
Total
|
$
|
$
|
$
|
(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 selling commissions it
receives from us to other affiliated or unaffiliated dealers. In no event will these selling commissions exceed $7.25 per $1,000 principal amount
note. See “Plan of Distribution (Conflicts of Interest)” in the accompanying product supplement.
|
Issuer: JPMorgan Chase Financial Company LLC, a direct,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Indices: The Russell 2000® Index (Bloomberg ticker: RTY)
and the S&P 500® Index (Bloomberg ticker: SPX) (each an
“Index” and collectively, the “Indices”)
Maximum Upside Return: At least 31.90% (corresponding to
a maximum payment at maturity of at least $1,319.00 per
$1,000 principal amount note if the Lesser Performing Index
Return is positive) (to be provided in the pricing supplement)
Buffer Amount: 15.00%
Pricing Date: On or about June 28, 2024
Original Issue Date (Settlement Date): On or about July 3,
2024
Observation Date*: December 29, 2025
Maturity Date*: January 2, 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
|
Payment at Maturity:
If the Final Value of each Index is greater than its Initial Value,
your payment at maturity per $1,000 principal amount note will
be calculated as follows:
$1,000 + ($1,000 × Lesser Performing Index Return), subject
to the Maximum Upside Return
If (i) the Final Value of one Index is greater than its Initial
Value and the Final Value of the other Index is equal to its
Initial Value or is less than its Initial Value by up to the Buffer
Amount or (ii) the Final Value of each Index is equal to its
Initial Value or is less than its Initial Value by up to the Buffer
Amount, your payment at maturity per $1,000 principal
amount note will be calculated as follows:
$1,000 + ($1,000 × Absolute Index Return of the Lesser
Performing Index)
This payout formula results in an effective cap of 15.00% on
your return at maturity if the Lesser Performing Index Return
is negative. Under these limited circumstances, your
maximum payment at maturity is $1,150.00 per $1,000
principal amount note.
If the Final Value of either Index is less than its Initial Value by
more than the Buffer Amount, your payment at maturity per
$1,000 principal amount note will be calculated as follows:
$1,000 + [$1,000 × (Lesser Performing Index Return + Buffer
Amount)]
If the Final Value of either Index is less than its Initial Value by
more than the Buffer Amount, you will lose some or most of
your principal amount at maturity.
Absolute Index Return: With respect to each Index, the
absolute value of its Index Return. For example, if the Index
Return of an Index is -5%, its Absolute Index Return will equal
5%.
Lesser Performing Index: The Index with the Lesser
Performing Index Return
Lesser Performing Index Return: The lower 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
Final Value: With respect to each Index, the closing level of
that Index on the Observation Date
|
PS-1 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
Final Value of
the Lesser
Performing
Index
|
Lesser
Performing
Index Return
|
Absolute Index Return of
the Lesser Performing
Index
|
Total Return on the
Notes
|
Payment at Maturity
|
180.00
|
80.00%
|
N/A
|
31.90%
|
$1,319.00
|
165.00
|
65.00%
|
N/A
|
31.90%
|
$1,319.00
|
150.00
|
50.00%
|
N/A
|
31.90%
|
$1,319.00
|
140.00
|
40.00%
|
N/A
|
31.90%
|
$1,319.00
|
131.90
|
31.90%
|
N/A
|
31.90%
|
$1,319.00
|
130.00
|
30.00%
|
N/A
|
30.00%
|
$1,300.00
|
120.00
|
20.00%
|
N/A
|
20.00%
|
$1,200.00
|
110.00
|
10.00%
|
N/A
|
10.00%
|
$1,100.00
|
105.00
|
5.00%
|
N/A
|
5.00%
|
$1,050.00
|
101.00
|
1.00%
|
N/A
|
1.00%
|
$1,010.00
|
100.00
|
0.00%
|
0.00%
|
0.00%
|
$1,000.00
|
95.00
|
-5.00%
|
5.00%
|
5.00%
|
$1,050.00
|
90.00
|
-10.00%
|
10.00%
|
10.00%
|
$1,100.00
|
85.00
|
-15.00%
|
15.00%
|
15.00%
|
$1,150.00
|
80.00
|
-20.00%
|
N/A
|
-5.00%
|
$950.00
|
70.00
|
-30.00%
|
N/A
|
-15.00%
|
$850.00
|
60.00
|
-40.00%
|
N/A
|
-25.00%
|
$750.00
|
50.00
|
-50.00%
|
N/A
|
-35.00%
|
$650.00
|
40.00
|
-60.00%
|
N/A
|
-45.00%
|
$550.00
|
30.00
|
-70.00%
|
N/A
|
-55.00%
|
$450.00
|
20.00
|
-80.00%
|
N/A
|
-65.00%
|
$350.00
|
10.00
|
-90.00%
|
N/A
|
-75.00%
|
$250.00
|
0.00
|
-100.00%
|
N/A
|
-85.00%
|
$150.00
|
PS-2 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-3 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-4 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-5 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of 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
|
PS-6 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-7 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-8 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-9 | Structured Investments
|
|
Capped Dual Directional Buffered Equity Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
1 Year JP Morgan Alerian MLP Chart |
1 Month JP Morgan Alerian MLP Chart |
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