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Name | Symbol | Market | Type |
---|---|---|---|
JP Morgan Chase and Co | NYSE:JPM-M | NYSE | Preference Share |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.15 | 0.72% | 20.98 | 21.05 | 20.79 | 20.84 | 120,534 | 01:00:00 |
July 10, 2024
|
Registration Statement Nos. 333-270004 and 333-270004-01; Rule 424(b)(2)
|
JPMorgan Chase Financial Company LLC
Structured Investments
$645,000
Callable Contingent Interest Notes Linked to the
Lesser Performing of the Russell 2000® Index and the
S&P 500® Index due July 15, 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 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 October 16, 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 July 10, 2024 and are expected to settle on or about July 15, 2024.
●CUSIP: 48135PCM1
|
|
Price to Public (1)
|
Fees and Commissions (2)
|
Proceeds to Issuer
|
Per note
|
$1,000
|
$7
|
$993
|
Total
|
$645,000
|
$4,515
|
$640,485
|
(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 of
$7.00 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.
|
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”)
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 $6.875 (equivalent to a
Contingent Interest Rate of 8.25% per annum, payable at a rate
of 0.6875% per month).
If the closing level of either 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: 8.25% per annum, payable at a rate
of 0.6875% per month
Interest Barrier: With respect to each Index, 70.00% of its Initial
Value, which is 1,436.2278 for the Russell 2000® Index and
3,943.737 for the S&P 500® Index
Trigger Value: With respect to each Index, 60.00% of its Initial
Value, which is 1,231.0524 for the Russell 2000® Index and
3,380.346 for the S&P 500® Index
Pricing Date: July 10, 2024
Original Issue Date (Settlement Date): On or about July 15,
2024
Review Dates*: August 12, 2024, September 10, 2024, October
10, 2024, November 11, 2024, December 10, 2024, January 10,
2025, February 10, 2025, March 10, 2025, April 10, 2025, May
12, 2025, June 10, 2025, July 10, 2025, August 11, 2025,
September 10, 2025, October 10, 2025, November 10, 2025,
December 10, 2025, January 12, 2026, February 10, 2026,
March 10, 2026, April 10, 2026, May 11, 2026, June 10, 2026,
July 10, 2026, August 10, 2026, September 10, 2026, October
12, 2026, November 10, 2026, December 10, 2026, January 11,
2027, February 10, 2027, March 10, 2027, April 12, 2027, May
10, 2027, June 10, 2027 and July 12, 2027 (the “final Review
Date”)
Interest Payment Dates*: August 15, 2024, September 13,
2024, October 16, 2024, November 14, 2024, December 13,
2024, January 15, 2025, February 13, 2025, March 13, 2025,
April 15, 2025, May 15, 2025, June 13, 2025, July 15, 2025,
August 14, 2025, September 15, 2025, October 16, 2025,
November 14, 2025, December 15, 2025, January 15, 2026,
February 13, 2026, March 13, 2026, April 15, 2026, May 14,
2026, June 15, 2026, July 15, 2026, August 13, 2026,
September 15, 2026, October 15, 2026, November 16, 2026,
December 15, 2026, January 14, 2027, February 16, 2027,
March 15, 2027, April 15, 2027, May 13, 2027, June 15, 2027
and the Maturity Date
Maturity Date*: July 15, 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, if any, applicable to the final
Review Date.
If the notes have not been redeemed early and the Final Value
of either 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 × Lesser Performing Index Return)
If the notes have not been redeemed early and the Final Value
of either Index 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.
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, which was 2,051.754 for the
Russell 2000® Index and 5,633.91 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-1 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-2 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-3 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
Number of Contingent
Interest Payments
|
Total Contingent Interest
Payments
|
36
|
$247.500
|
35
|
$240.625
|
34
|
$233.750
|
33
|
$226.875
|
32
|
$220.000
|
31
|
$213.125
|
30
|
$206.250
|
29
|
$199.375
|
28
|
$192.500
|
27
|
$185.625
|
26
|
$178.750
|
25
|
$171.875
|
24
|
$165.000
|
23
|
$158.125
|
22
|
$151.250
|
21
|
$144.375
|
20
|
$137.500
|
19
|
$130.625
|
18
|
$123.750
|
17
|
$116.875
|
16
|
$110.000
|
15
|
$103.125
|
14
|
$96.250
|
13
|
$89.375
|
12
|
$82.500
|
11
|
$75.625
|
10
|
$68.750
|
9
|
$61.875
|
8
|
$55.000
|
7
|
$48.125
|
6
|
$41.250
|
5
|
$34.375
|
4
|
$27.500
|
3
|
$20.625
|
2
|
$13.750
|
1
|
$6.875
|
0
|
$0.000
|
PS-4 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
Date
|
Closing Level of Lesser
Performing Index
|
Payment (per $1,000 principal amount note)
|
First Review Date
|
95.00
|
$6.875
|
Second Review Date
|
85.00
|
$6.875
|
Third through Thirty-Fifth
Review Dates
|
Less than Interest Barrier
|
$0
|
Final Review Date
|
90.00
|
$1,006.875
|
Total Payment
|
$1,020.625 (2.0625% return)
|
Date
|
Closing Level of Lesser
Performing Index
|
Payment (per $1,000 principal amount note)
|
First Review Date
|
95.00
|
$6.875
|
Second Review Date
|
85.00
|
$6.875
|
Third through Thirty-Fifth
Review Dates
|
Less than Interest Barrier
|
$0
|
Final Review Date
|
60.00
|
$1,000.00
|
Total Payment
|
$1,013.75 (1.375% return)
|
Date
|
Closing Level of Lesser
Performing Index
|
Payment (per $1,000 principal amount note)
|
First Review Date
|
55.00
|
$0
|
Second Review Date
|
50.00
|
$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)
|
PS-5 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-6 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-7 | Structured Investments
|
|
Callable Contingent Interest 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
|
PS-8 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
Historical Performance of the S&P 500® Index
Source: Bloomberg
|
PS-9 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-10 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-11 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
PS-12 | Structured Investments
|
|
Callable Contingent Interest Notes Linked to the Lesser Performing of the
Russell 2000® Index and the S&P 500® Index
|
Exhibit 107.1
The pricing supplement to which this Exhibit is attached is a final prospectus for the related offering(s). The maximum aggregate offering price of the related offering(s) is $645,000.
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