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 automatically called 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 at least $17.50 (equivalent
to a Contingent Interest Rate of at least 7.00% per annum,
payable at a rate of at least 1.75% per quarter) (to be provided
in the pricing supplement).
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: At least 7.00% per annum, payable
at a rate of at least 1.75% per quarter (to be provided in the
pricing supplement)
Interest Barrier/Trigger Value: With respect to each Index,
70.00% of its Initial Value
Pricing Date: On or about June 26, 2024
Original Issue Date (Settlement Date): On or about June 28,
2024
Review Dates*: September 26, 2024, December 26, 2024,
March 26, 2025, June 26, 2025, September 26, 2025,
December 26, 2025, March 26, 2026, June 26, 2026,
September 28, 2026, December 28, 2026, March 29, 2027,
June 28, 2027, September 27, 2027, December 27, 2027,
March 27, 2028 and June 26, 2028 (final Review Date)
Interest Payment Dates*: October 1, 2024, December 31,
2024, March 31, 2025, July 1, 2025, October 1, 2025, December
31, 2025, March 31, 2026, July 1, 2026, October 1, 2026,
December 31, 2026, April 1, 2027, July 1, 2027, September 30,
2027, December 30, 2027, March 30, 2028 and the Maturity
Date
Maturity Date*: June 29, 2028
Call Settlement Date*: If the notes are automatically called on
any Review Date (other than the first, second, third 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 level of each Index on any Review Date (other than
the first, second, third 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 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 automatically called 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 automatically called and the Final
Value of either Index is less than its Trigger Value, 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 final Review Date
|