04/29/2024 | Press release | Distributed by Public on 04/29/2024 11:47
April 25, 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
$1,065,000
Uncapped Buffered Return Enhanced Notes Linked to
the iShares® MSCI Emerging Markets ETF due April
30, 2026
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
●The notes are designed for investors who seek an uncapped return of 1.0375 times any appreciation of the iShares® MSCI
Emerging Markets ETF, at maturity.
●Investors should be willing to forgo interest and dividend payments and be willing to lose up to 90.00% 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.
●Minimum denominations of $1,000 and integral multiples thereof
●The notes priced on April 25, 2024 and are expected to settle on or about April 30, 2024.
●CUSIP: 48134XNW1
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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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$4.50
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$995.50
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Total
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$1,065,000
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$4,792.50
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$1,060,207.50
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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 of
$4.50 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.
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Issuer: JPMorgan Chase Financial Company LLC, an indirect,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Fund: The iShares® MSCI Emerging Markets ETF (Bloomberg
ticker: EEM)
Upside Leverage Factor:1.0375
Buffer Amount: 10.00%
Pricing Date:April 25, 2024
Original Issue Date (Settlement Date):On or about April 30,
2024
Observation Date*:April 27, 2026
Maturity Date*:April 30, 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 a
Single Underlying - Notes Linked to a Single Underlying
(Other Than a Commodity Index)" 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 is greater than the Initial
Value, your payment at maturity per $1,000 principal amount
note will be calculated as follows:
$1,000 + ($1,000 × Fund Return × Upside Leverage Factor)
If the Final Value is equal to the Initial Value or is less than the
Initial Value by up to the Buffer Amount, you will receive the
principal amount of your notes at maturity.
If the Final Value is less than the 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 × (Fund Return + Buffer Amount)]
If the Final Value is less than the Initial Value by more than the
Buffer Amount, you will lose some or most of your principal
amount at maturity.
Fund Return:
(Final Value - Initial Value)
Initial Value
Initial Value:The closing price of one share of the Fund on the
Pricing Date, which was $40.70
Final Value:The closing price of one share of the Fund on the
Observation Date
Share Adjustment Factor:The Share Adjustment Factor is
referenced in determining the closing price of one share of the
Fund and is set equal to 1.0 on the Pricing Date. The Share
Adjustment Factor is subject to adjustment upon the occurrence
of certain events affecting the Fund. See "The Underlyings -
Funds - Anti-Dilution Adjustments" in the accompanying product
supplement for further information.
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PS-1 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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Final Value
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Fund 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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83.0000%
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$1,830.000
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$170.00
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70.00%
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72.6250%
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$1,726.250
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$160.00
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60.00%
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62.2500%
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$1,622.500
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$150.00
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50.00%
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51.8750%
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$1,518.750
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$140.00
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40.00%
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41.5000%
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$1,415.000
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$130.00
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30.00%
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31.1250%
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$1,311.250
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$120.00
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20.00%
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20.7500%
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$1,207.500
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$110.00
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10.00%
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10.3750%
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$1,103.750
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$105.00
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5.00%
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5.1875%
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$1,051.875
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$101.00
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1.00%
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1.0375%
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$1,010.375
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$100.00
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0.00%
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0.0000%
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$1,000.000
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$95.00
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-5.00%
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0.0000%
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$1,000.000
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$90.00
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-10.00%
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0.0000%
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$1,000.000
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$85.00
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-15.00%
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-5.0000%
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$950.000
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$80.00
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-20.00%
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-10.0000%
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$900.000
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$70.00
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-30.00%
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-20.0000%
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$800.000
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$60.00
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-40.00%
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-30.0000%
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$700.000
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$50.00
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-50.00%
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-40.0000%
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$600.000
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$40.00
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-60.00%
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-50.0000%
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$500.000
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$30.00
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-70.00%
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-60.0000%
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$400.000
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$20.00
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-80.00%
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-70.0000%
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$300.000
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$10.00
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-90.00%
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-80.0000%
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$200.000
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$0.00
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-100.00%
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-90.0000%
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$100.000
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PS-2 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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PS-3 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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PS-4 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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PS-5 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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Historical Performance of the iShares® MSCI Emerging Markets ETF
Source: Bloomberg
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PS-6 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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PS-7 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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PS-8 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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PS-9 | Structured Investments
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Uncapped Buffered Return Enhanced Notes Linked to the iShares® MSCI
Emerging Markets ETF
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