06/01/2023 | Press release | Distributed by Public on 06/01/2023 13:57
May 30, 2023
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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
$2,221,000
Uncapped Buffered Return Enhanced Notes Linked to
the Least Performing of the Dow Jones Industrial
Average™, the Russell 2000® Index and the S&P 500®
Index due June 4, 2027
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
●The notes are designed for investors who seek an uncapped return of 1.47 times any appreciation of the least performing of
the Dow Jones Industrial Average™, 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 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.
●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 May 30, 2023 and are expected to settle on or about June 2, 2023.
●CUSIP: 48133WDZ8
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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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$26
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$974
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Total
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$2,221,000
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$57,746
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$2,163,254
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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
$26.00 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.
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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 Average™ (Bloomberg
ticker: INDU), the Russell 2000® Index (Bloomberg ticker:
RTY) and the S&P 500® Index (Bloomberg ticker: SPX) (each
an "Index" and collectively, the "Indices")
Upside Leverage Factor:1.47
Buffer Amount: 10.00%
Pricing Date:May 30, 2023
Original Issue Date (Settlement Date):On or about June 2,
2023
Observation Date*:June 1, 2027
Maturity Date*:June 4, 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
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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 × Least Performing Index Return × Upside
Leverage Factor)
If (i) the Final Value of one or more Indices is greater than its
Initial Value and the Final Value of the other Index or Indices 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, you will receive the principal amount of your
notes at maturity.
If the Final Value of any 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 × (Least Performing Index Return + Buffer
Amount)]
If the Final Value of any 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.
Least Performing Index:The Index with the Least Performing
Index Return
Least Performing Index Return: The lowest 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 33,042.78 for the
Dow Jones Industrial Average™, 1,767.292 for the Russell
2000® Index and 4,205.52 for the S&P 500® Index
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 Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
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Final Value of the Least
Performing Index
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Least 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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117.60%
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$2,176.00
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170.00
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70.00%
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102.90%
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$2,029.00
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160.00
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60.00%
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88.20%
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$1,882.00
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150.00
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50.00%
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73.50%
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$1,735.00
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140.00
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40.00%
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58.80%
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$1,588.00
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130.00
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30.00%
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44.10%
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$1,441.00
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120.00
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20.00%
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29.40%
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$1,294.00
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110.00
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10.00%
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14.70%
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$1,147.00
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105.00
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5.00%
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7.35%
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$1,073.50
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101.00
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1.00%
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1.47%
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$1,014.70
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100.00
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0.00%
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0.00%
|
$1,000.00
|
95.00
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-5.00%
|
0.00%
|
$1,000.00
|
90.00
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-10.00%
|
0.00%
|
$1,000.00
|
85.00
|
-15.00%
|
-5.00%
|
$950.00
|
80.00
|
-20.00%
|
-10.00%
|
$900.00
|
70.00
|
-30.00%
|
-20.00%
|
$800.00
|
60.00
|
-40.00%
|
-30.00%
|
$700.00
|
50.00
|
-50.00%
|
-40.00%
|
$600.00
|
40.00
|
-60.00%
|
-50.00%
|
$500.00
|
30.00
|
-70.00%
|
-60.00%
|
$400.00
|
20.00
|
-80.00%
|
-70.00%
|
$300.00
|
10.00
|
-90.00%
|
-80.00%
|
$200.00
|
0.00
|
-100.00%
|
-90.00%
|
$100.00
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PS-2 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
|
PS-3 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
|
PS-4 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
|
PS-5 | Structured Investments
|
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Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
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Historical Performance of the Dow Jones Industrial Average™
Source: Bloomberg
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Historical Performance of the Russell 2000® Index
Source: Bloomberg
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PS-6 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
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Historical Performance of the S&P 500® Index
Source: Bloomberg
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PS-7 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
|
PS-8 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
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PS-9 | Structured Investments
|
|
Uncapped Buffered Return Enhanced Notes Linked to the Least Performing
of the Dow Jones Industrial Average™, the Russell 2000® Index and the
S&P 500® Index
|