04/29/2024 | Press release | Distributed by Public on 04/29/2024 13:20
May , 2024
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Registration Statement Nos. 333-270004 and 333-270004-01; Rule 424(b)(2)
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JPMorgan Chase Financial Company LLC
Structured Investments
Uncapped Accelerated Barrier Notes Linked to the
Lesser Performing of the Dow Jones Industrial
AverageTM and the S&P 500® Index due May 7, 2029
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
●The notes are designed for investors who seek an uncapped return of at least 1.44 times any appreciation of the lesser
performing of the Dow Jones Industrial AverageTM 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 some or all 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 May 2, 2024 and are expected to settle on or about May 7, 2024.
●CUSIP: 48134X6M2
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Price to Public (1)
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Fees and Commissions (2)
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Proceeds to Issuer
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Per note
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$1,000
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$
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$
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Total
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$
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$
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$
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(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 $7.50 per $1,000 principal amount
note. See "Plan of Distribution (Conflicts of Interest)" in the accompanying product supplement.
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Issuer: JPMorgan Chase Financial Company LLC, an indirect,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Indices: The Dow Jones Industrial AverageTM (Bloomberg
ticker: INDU) and the S&P 500® Index (Bloomberg ticker: SPX)
(each an "Index" and collectively, the "Indices")
Upside Leverage Factor:At least 1.44 (to be provided in the
pricing supplement)
Barrier Amount: With respect to each Index, 70.00% of its
Initial Value
Pricing Date:On or about May 2, 2024
Original Issue Date (Settlement Date):On or about May 7,
2024
Observation Date*:May 2, 2029
Maturity Date*:May 7, 2029
* 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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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 × Upside
Leverage Factor)
If the Final Value of either Index is equal to or less than its
Initial Value but the Final Value of each Index is greater than
or equal to its Barrier Amount, you will receive the principal
amount of your notes at maturity.
If the Final Value of either Index is less than its Barrier
Amount, 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 Final Value of either Index is less than its Barrier
Amount, you will lose more than 30.00% 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
Final Value: With respect to each Index, the closing level of
that Index on the Observation Date
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PS-1 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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Final Value of the Lesser
Performing Index
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Lesser Performing Index
Return
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Total Return on the Notes
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Payment at Maturity
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180.00
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80.00%
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115.20%
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$2,152.00
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170.00
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70.00%
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100.80%
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$2,008.00
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160.00
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60.00%
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86.40%
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$1,864.00
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150.00
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50.00%
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72.00%
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$1,720.00
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140.00
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40.00%
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57.60%
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$1,576.00
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130.00
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30.00%
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43.20%
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$1,432.00
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120.00
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20.00%
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28.80%
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$1,288.00
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110.00
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10.00%
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14.40%
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$1,144.00
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105.00
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5.00%
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7.20%
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$1,072.00
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101.00
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1.00%
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1.44%
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$1,014.40
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100.00
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0.00%
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0.00%
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$1,000.00
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95.00
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-5.00%
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0.00%
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$1,000.00
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90.00
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-10.00%
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0.00%
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$1,000.00
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80.00
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-20.00%
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0.00%
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$1,000.00
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70.00
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-30.00%
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0.00%
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$1,000.00
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69.99
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-30.01%
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-30.01%
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$699.90
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60.00
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-40.00%
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-40.00%
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$600.00
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50.00
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-50.00%
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-50.00%
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$500.00
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40.00
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-60.00%
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-60.00%
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$400.00
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30.00
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-70.00%
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-70.00%
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$300.00
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20.00
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-80.00%
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-80.00%
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$200.00
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10.00
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-90.00%
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-90.00%
|
$100.00
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0.00
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-100.00%
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-100.00%
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$0.00
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PS-2 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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PS-3 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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PS-4 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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PS-5 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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Historical Performance of the Dow Jones Industrial AverageTM
Source: Bloomberg
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Historical Performance of the S&P 500® Index
Source: Bloomberg
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PS-6 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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PS-7 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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PS-8 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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PS-9 | Structured Investments
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Uncapped Accelerated Barrier Notes Linked to the Lesser Performing of the
Dow Jones Industrial AverageTM and the S&P 500® Index
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