摩根大通美股招股说明书(2025-01-16版)

preliminary ment is not complete and not anoffer tosell nordoes it securiti anyjurisdic sale is not Subjectto completion datedJanuary15,2025 January, 2025Registration Statement Nos.333-270004 and333-270004-01; Rule 424(b)(2)Pricingsupplement to productsupplement no.4-I datedApril 13,2023,the April 13,2023,and theprospect addend um dated June 3,2024 organ Cha se Fina ncial pany Stru cture stme nts on Guar ante organ Cha The notes ent Interest respect Date for which one Refere nce Stock greater than or 50.00% refer to Barrier. •The automa one of the Refere nce Stock than the second greaterthan orequal earliestdate onwhich an automa is April21, 2025.• Investo should willing to acceptthe riskof losingsome principal andthe riskthat no Contingent Interest nt maybe respectto some Review Dates. Investo interest dividen payments, in exchange forthe opportu ent Interest Payme nts.• The notes are unsecu unsubo rdinate obligati ons of JPMorgan Chase Financi which we refer to as JPMorgan payment on and unconditionallyguarant an Chase the notes subjec t to the of the notes,and the gan Chase & Co.,as guaran tor of the notes. Minimu m denominations of $1,000and integral multiples thereof •The notes are expected to price on or on or 2025.• Investi the notes involve s a numbe risks. See “Risk beginn accom panying prospe ctus A to the accom panyin gprospe ctus adden beginning on of the accom panying produc supplement “Select ed Risk Consid beginn the Securiti “SEC”)nor any state securiti es commis the notes or passed accura cy or the pricingsupplement orthe accom panying product prospectus prospectus and prospectusaddend um. representation to the offense Price to (1) Fees Commi ssions Procee Issuer Per $ Total $$ $ (1) See“Supplemental Use ofProceeds” in thispricing supplement forinformation about components of the priceto publicof thenotes. (2) J.P.MorganSecurities LLC, whichwe referto asJPMS, JPMorg an Financia of thesellingcommissions it receivesfrom usto otheraffiliated or unaffiliat dealers. In noeventwillthese sellingcommis $22.25 per$1,000principal “Plan of Distribut (Conflicts of productsupplement. the estima ted value of the approximately$954.80 per amoun t note. estima ted the are ment principal amoun t note. See Estima ted additio inform The notes are not deposits, are insured by theFederalDepositInsuran ce any other governmentalagency and are or guaranteed by,a bank. PS-1 | Structu Invest ments Auto Callabl Contingent Interest Linked Class A commo n stock PalantirTechno logiesInc. KeyTerms Issuer: JPMorgan Chase Financi a direct,whollyowned financesubsidiary ofJPMorg an Chase Guara ntor: JPMorgan Chase Refere nce Stock: The Class A commo of PalantirTechnologies ticker: refer to Palantir “Palanti Contin Interes Payments:If the notes not been automaticallycalled and theclosingprice ofone Refere nce Stock on anyReviewDate is greaterthan orequalto the InterestBarrier,you willreceive on theapplicable Interest each $1,000principal amount note a Contingent Interest equalto at $16.04 (equiva lent to a Contingent InterestRate ofat least19.25% annum,payable at a rate ofat least1.60417% per month)(to beprovided in the pricingsupplement).If the one Refere nce Stock on anyReviewDate isless than InterestBarrier, no ContingentInterest made with respectto thatReview Date. Contin annum,payable at arate of at least1.60417% permonth Barrier TriggerValue: 50.00%of theInitialValue PricingDate: Januar Origin al Date (Settle Review Dates*: Februa March 2025,September 22,2025, Octobe Novem 2025,Januar Februa June Interes Payme nt Dates*: April24,2025,May March and theMaturity DateMaturit Date*: Settle If the notes are automa Date first,second ReviewDates),the firstInterest following thatReviewDate* Subjectto postponement in the event of a market disruption eventand asdescribe d under“General Termsof Notes Postponementof a DeterminationDate —Notes Linked to a SingleUnderlying (Other and“General Termsof Notes Postponementof a Payment Date”in theaccomp anyingproductsupplement Autom Call:If the one of the Refere nce Stock than the second greaterthan orequal notes will be called payme nt, foreach$1,000princip al amount to (a)$1,000plus(b)the Contingent Interest nt applicable tothat Review e on the applicable CallSettlem ent Date. No further made on the notes. Maturit notes not called greaterthan orequal receive maturit principal amount equalto (a)$1,000plus(b) the Contingent Interest applicable to the the notes not been automaticallycalled and the than the TriggerValue, matu