摩根大通美股招股说明书(2025-01-23版)

preliminary ment is not complete and not anoffer tosell nordoes it securiti anyjurisdic sale is not Subjectto completion dated January22, January, 2025Registration Statement Nos.333-270004 424(b)(2) Pricingsupplem ent toproductsupplement no. underlying the prospectus andprospect us supplement,each datedApril 13,2023,and the prospectus addend um datedJune 3,2024 orga Cha se Fina ncial panyLLC Stru cture stme nts , Guar ante organ Cha ●The notes m if, onany final Review closing level of Dow Jones Industri Averag and the which we Indices,is at oraboveits Call Value. which an automatic call may beinitiated Februa The notes are investo uncapp exposu re to anyappreci the the Indices at maturit notes not been automa Investo rs should be willingto forgointerest and dividen payme nts and willingto losing some al amount maturit notes are unsecured andunsubordinate an Chase Financi we refer to as JPMorgan whichis fullyanduncond an Chase & Co. payment on notes subject to thecredit risk of ganFinanc ial, asissuerof thenotes, JPMor as the notes. Payments on the notes to a composed of the Indices. the notes are linked the describ below. Minimu m denominations of $1,000and integral multiples thereof notes are expected to price on or on or Februa 48136B 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 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 $41.25 per$1,000principal “Plan of Distribut (Conflicts of productsupplement. the estima ted value of the approximately$936.40 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 NotesLinkedto theLeast Industria Average®, the Nasdaq-100 Russell 2000 Terms Issuer: JPMorgan Chase Financi a direct,whollyowned financesubsidiary ofJPMorg an Chase Guara ntor: JPMorgan Chase Dow Jones Industri Averag (Bloombergticker: INDU),the Nasdaq -100 Index®(Bloombergticker: Premiu m Premiu m respect set forth below: first Review $1,000● second Review $1,000● third Review $1,000● fourth Review $1,000(in Value: respectto each Index,100.00% of itsInitial Value Barrier respectto eachIndex,70.00% Pricing Date: Date Date):On or Februa Februa 2028,January 30,2029 and Settle Dates*: Februa Februa Maturit Date*: Februa postponementin theevent of a on under “Gener al Terms of Notes Postpo nement of a Date — Linked to MultipleUnderlyings”and “Gener al Termsof Notes Postponement of a nt Date” in the accom productsupplement Autom Call:If the than Review Date) isgreaterthan orequal to its notes will be called payme nt, foreach$1,000princip al amount to (a)$1,000plus(b)the Call Premiu m Amountapplica Review payable on the applica Settlem ent Date. No further be on the notes. If the notes are automa ticallycalled,you willnot benefit from the feature that provide return maturity equal to theLeastPerforming Return feature not an automatic call,the an automa tic callmay besignificantly less than the payme nt atmaturity forthe samelevel ofappreciation in the Index. Maturit y:If thenotes not been automaticallycalled and the Index is greaterthan itsInitial Value,your maturit al amount note will be calculat + ($1,000× LeastPerfor notes not automa and the than its than or Amount receive the principal amount of yournotesat maturit notes not been automaticallycalled and the Index is Amount , yourpayme maturit al amount note will be calculat + ($1,000× LeastPerfor notes not automaticallycalledand the lessthan itsBarrierAmount lose more than30.00%of yourprincip al amount at maturit y andcouldlose allof your principal amountat maturit Perfor with the Return Return s of the :With With respectto eachIndex, the Final Value: respect closing lev