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 $18.125 (equivalent to a Contingent Interest Rate of 7.25% per annum, payable at a rate of 1.8125% per quarter).
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: 7.25% per annum, payable at a rate of 1.8125% per quarter
Interest Barrier/Trigger Value: With respect to each Index, 55.00% of its Initial Value, which is 1,220.28555 for the Russell 2000® Index and 3,099.0355 for the S&P 500® Index
Pricing Date: August 23, 2024
Original Issue Date (Settlement Date): On or about August 28, 2024
Review Dates*: November 25, 2024, February 24, 2025, May 23, 2025, August 25, 2025, November 24, 2025, February 23, 2026, May 26, 2026, August 24, 2026, November 23, 2026, February 23, 2027, May 24, 2027, August 23, 2027, November 23, 2027, February 23, 2028, May 23, 2028, August 23, 2028, November 24, 2028, February 23, 2029, May 23, 2029 and August 23, 2029 (the “final Review Date”)
Interest Payment Dates*: November 29, 2024, February 27, 2025, May 29, 2025, August 28, 2025, November 28, 2025, February 26, 2026, May 29, 2026, August 27, 2026, November 27, 2026, February 26, 2027, May 27, 2027, August 26, 2027, November 29, 2027, February 28, 2028, May 26, 2028, August 28, 2028, November 29, 2028, February 28, 2029, May 29, 2029 and the Maturity Date
Maturity Date*: August 28, 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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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 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 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 45.00% 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 2,218.701 for the Russell 2000® Index and 5,634.61 for the S&P 500® Index
Final Value: With respect to each Index, the closing level of that Index on the final Review Date
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