Issuer: JPMorgan Chase Financial Company LLC, an indirect,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Underlyings: The Russell 2000® Index (Bloomberg ticker: RTY)
and the S&P 500® Index (Bloomberg ticker: SPX) (each an
“Index” and collectively, the “Indices”) and the VanEck® Gold
Miners ETF (Bloomberg ticker: GDX) (the “Fund”) (each of the
Indices and the Fund, an “Underlying” and collectively, the
“Underlyings”)
Contingent Interest Payments:
If the notes have not been previously redeemed early and the
closing value of each Underlying 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 $7.7083
(equivalent to a Contingent Interest Rate of 9.25% per annum,
payable at a rate of 0.77083% per month).
If the closing value of any Underlying 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: 9.25% per annum, payable at a rate
of 0.77083% per month
Interest Barrier: With respect to each Underlying, 70.00% of its
Initial Value, which is 1,447.6623 for the Russell 2000® Index,
3,573.332 for the S&P 500® Index and $20.412 for the VanEck®
Gold Miners ETF
Trigger Value: With respect to each Underlying, 65.00% of its
Initial Value, which is 1,344.25785 for the Russell 2000® Index,
3,318.094 for the S&P 500® Index and $18.954 for the VanEck®
Gold Miners ETF
Pricing Date: March 6, 2024
Original Issue Date (Settlement Date): On or about March 11,
2024
Review Dates*: April 8, 2024, May 6, 2024, June 6, 2024, July
8, 2024, August 6, 2024, September 6, 2024, October 7, 2024,
November 6, 2024, December 6, 2024, January 6, 2025,
February 6, 2025, March 6, 2025, April 7, 2025, May 6, 2025,
June 6, 2025, July 7, 2025, August 6, 2025 and September 8,
2025 (the “final Review Date”)
Interest Payment Dates*: April 11, 2024, May 9, 2024, June 11,
2024, July 11, 2024, August 9, 2024, September 11, 2024,
October 10, 2024, November 12, 2024, December 11, 2024,
January 9, 2025, February 11, 2025, March 11, 2025, April 10,
2025, May 9, 2025, June 11, 2025, July 10, 2025, August 11,
2025 and the Maturity Date
Maturity Date*: September 11, 2025
*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, second 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 Underlying 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, if any, applicable to the final
Review Date.
If the notes have not been redeemed early and the Final Value
of any Underlying 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 × Least Performing Underlying Return)
If the notes have not been redeemed early and the Final Value
of any Underlying is less than its Trigger Value, you will lose
more than 35.00% of your principal amount at maturity and
could lose all of your principal amount at maturity.
Least Performing Underlying: The Underlying with the Least
Performing Underlying Return
Least Performing Underlying Return: The lowest of the
Underlying Returns of the Underlyings
Underlying Return:
With respect to each Underlying,
(Final Value – Initial Value)
Initial Value
Initial Value: With respect to each Underlying, the closing value
of that Underlying on the Pricing Date, which was 2,068.089 for
the Russell 2000® Index, 5,104.76 for the S&P 500® Index and
$29.16 for the VanEck® Gold Miners ETF
Final Value: With respect to each Underlying, the closing value
of that Underlying on the final Review Date
Share Adjustment Factor: The Share Adjustment Factor is
referenced in determining the closing value 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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