PS-1| Structured Investments
Callable Contingent Interest Notes Linked to the Least Performing of the
Energy Select Sector SPDR
®
Fund, the Nasdaq-100
®
Technology Sector
Index
SM
and the S&P 500
®
Index
Key Terms
JPMorgan Chase Financial Company LLC, a direct,
wholly owned finance subsidiary of JPMorgan Chase & Co.
Guarantor: JPMorgan Chase & Co.
Underlyings: The Nasdaq-100
®
Technology Sector Index
SM
(Bloomberg ticker: NDXT) and the S&P 500
®
Index (Bloomberg
ticker: SPX) (each an “Index” and collectively, the “Indices”)
and the Energy Select Sector SPDR
®
Fund (Bloomberg ticker:
XLE) (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 $8.00
(equivalent to a Contingent Interest Rate of 9.60% per annum,
payable at a rate of 0.80% 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: 9.60% per annum, payable at a rate
of 0.80% per month
Interest Barrier/Trigger Value: With respect to each
Underlying, 70.00% of its Initial Value, which is $62.587 for the
Energy Select Sector SPDR
®
Fund, 6,832.245 for the Nasdaq-
100
®
Technology Sector Index
SM
and 3,740.912 for the S&P
500
®
Index
Pricing Date: August 9, 2024
Original Issue Date (Settlement Date): On or about August
14, 2024
Review Dates*: September 9, 2024, October 9, 2024,
November 11, 2024, December 9, 2024, January 9, 2025,
February 10, 2025, March 10, 2025, April 9, 2025, May 9,
2025, June 9, 2025, July 9, 2025, August 11, 2025,
September 9, 2025, October 9, 2025, November 10, 2025,
December 9, 2025, January 9, 2026, February 9, 2026, March
9, 2026, April 9, 2026, May 11, 2026, June 9, 2026 and July
9, 2026 (the “final Review Date”)
Interest Payment Dates*: September 12, 2024, October 15,
2024, November 14, 2024, December 12, 2024, January 14,
2025, February 13, 2025, March 13, 2025, April 14, 2025, May
14, 2025, June 12, 2025, July 14, 2025, August 14, 2025,
September 12, 2025, October 15, 2025, November 14, 2025,
December 12, 2025, January 14, 2026, February 12, 2026,
March 12, 2026, April 14, 2026, May 14, 2026, June 12, 2026
and the Maturity Date
Maturity Date*: July 14, 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 Multiple Underlyings” and
“General Terms of Notes — Postponement of a Payment Date” in the
accompanying product supplement
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 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 30.00% 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
$89.41 for the Energy Select Sector SPDR
®
Fund, 9,760.35
for the Nasdaq-100
®
Technology Sector Index
SM
and 5,344.16
for the S&P 500
®
Index
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.