Issuer: JPMorgan Chase Financial Company LLC, a direct,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Underlyings: The Nasdaq-100
®
Technology Sector Index
SM
(Bloomberg ticker: NDXT) (the “Index”) and the SPDR
®
S&P
®
Regional Banking ETF (Bloomberg ticker: KRE) and the Utilities
Select Sector SPDR
®
Fund (Bloomberg ticker: XLU) (each a
“Fund” and collectively, the “Funds”) (each of the Index and the
Funds, an “Underlying” and collectively, the “Underlyings”)
Contingent Interest Payments:
If the notes have not been automatically called and the closing
value of each Underlying 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 at least $10.00
(equivalent to a Contingent Interest Rate of at least 12.00% per
annum, payable at a rate of at least 1.00% per month) (to be
provided in the pricing supplement).
If the closing value of any Underlying 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: At least 12.00% per annum, payable
at a rate of at least 1.00% per month (to be provided in the
pricing supplement)
Interest Barrier: With respect to each Underlying, 70.00% of its
Initial Value
Trigger Value: With respect to each Underlying, 60.00% of its
Initial Value
Pricing Date: On or about July 26, 2024
Original Issue Date (Settlement Date): On or about July 31,
2024
Review Dates*: August 26, 2024, September 26, 2024,
October 28, 2024, November 26, 2024, December 26, 2024,
January 27, 2025, February 26, 2025, March 26, 2025, April 28,
2025, May 27, 2025, June 26, 2025, July 28, 2025, August 26,
2025, September 26, 2025, October 27, 2025, November 26,
2025, December 26, 2025, January 26, 2026, February 26,
2026, March 26, 2026, April 27, 2026, May 26, 2026 and June
26, 2026 (final Review Date)
Interest Payment Dates*: August 29, 2024, October 1, 2024,
October 31, 2024, December 2, 2024, December 31, 2024,
January 30, 2025, March 3, 2025, March 31, 2025, May 1,
2025, May 30, 2025, July 1, 2025, July 31, 2025, August 29,
2025, October 1, 2025, October 30, 2025, December 2, 2025,
December 31, 2025, January 29, 2026, March 3, 2026, March
31, 2026, April 30, 2026, May 29, 2026 and the Maturity Date
Maturity Date*: July 1, 2026
Call Settlement Date*: If the notes are automatically called on
any Review Date (other than the first, second and final Review
Dates), the first Interest Payment Date immediately following
that Review Date
* 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
Automatic Call:
If the closing value of each Underlying on any Review Date
(other than the first, second and final Review Dates) is greater
than or equal to its Initial Value, the notes will be automatically
called for a cash payment, for each $1,000 principal amount
note, equal to (a) $1,000 plus (b) the Contingent Interest
Payment applicable to that Review Date, payable on the
applicable Call Settlement Date. No further payments will be
made on the notes.
Payment at Maturity:
If the notes have not been automatically called and the Final
Value of each Underlying 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 automatically called and the Final
Value of any Underlying 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 Underlying Return)
If the notes have not been automatically called and the Final
Value of any Underlying 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.
Least Performing Underlying: The Underlying with the Least
Performing Underlying Return
Least Performing Underlying Return: The lowest of the
Underlying Returns of the Underlyings
Underlying Return: With respect to each Underlying,
(Final Value – Initial Value)
Initial Value
Initial Value: With respect to each Underlying, the closing value
of that Underlying on the Pricing Date
Final Value: With respect to each Underlying, the closing value
of that Underlying on the final Review Date
Share Adjustment Factor: With respect to each Fund, the
Share Adjustment Factor is referenced in determining the
closing value of that Fund and is set equal to 1.0 on the Pricing
Date. The Share Adjustment Factor of each Fund is subject to
adjustment upon the occurrence of certain events affecting that
Fund. See “The Underlyings – Funds – Anti-Dilution
Adjustments” in the accompanying product supplement for
further information.