摩根大通美股招股说明书(2025-01-24版)

preliminary ment is not complete and not anoffer tosell nordoes it securiti anyjurisdic sale is not Subjectto completion datedJanuary23,2025 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 Sto Guar ante organ Cha The notes rs whoseek afixedreturn of at 17.00% maturit of the Refere nce Stock greaterthan orequal Value.• Investo should willing dividen d some or all of their principal amount at maturit 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.• CUSIP: 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 (1)(2) Fees Commi ssions(2)(3) Procee Issuer Per $ Total $$ $ (1) See“Supplemental Use ofProceeds” in thispricing supplement forinformation about components of the priceto publicof thenotes. (2) Withrespectto notessold to certain an affiliated or unaffiliat an investm entadviser,the priceto the publicwill notbe lowerthan $976.50 per$1,000principal J.P. Morgan Securiti broker-dealerswillforgo anysellingcommissions relatedto thesesales.See “Plan ofDistribution(Conflict accomp anyingproductsupplement. (3) With respectto notessold to brokera account s, JPMS,actingas agentfor JPMorgan sions itreceivesfrom usto other affiliated or unaffiliat dealers. thesesellingcommissions exceed$23.50per$1,000 principalamountnote.See “Plan ofDistribution(Conflict accomp anyingproductsupplement. the estima ted value of the approximately$964.90 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 of AppleInc. KeyTerms Issuer: JPMorgan Chase Financi a direct,whollyowned financesubsidiary ofJPMorg an Chase Guara ntor: JPMorgan Chase Refere nce Stock: The common stockof AppleInc., $0.00001 pershare(Bloom refer toAppleInc. as“Apple. Contin gentDigital Return :At 17.00% t: 75.00% Value about Original Date about Observ July 28, 2026 Maturit Date*: July 31,2026*Subjectto postponement intheevent of a marketdisruption event and asdescribed under“Genera l Termsof Notes Postpon ementof aDetermination Date — to a SingleUnderlying — Linked ng(OtherThan aCommo “Genera l Termsof Notes Postpon ementof aPayment Date” in theaccompanyingproduct supplement Maturit Value greaterthan orequal Value,your maturit y per $1,000principal amount note follows:$1,000+ ($1,000 × Contingent Digital Value is less than Initial Value but greaterthan or Barrier Amount receive the principal amountof your notes at maturity. If the the Barrier Amount , your maturit y per $1,000principal amount note follows:$1,000+ ($1,000 × StockReturn)If theFinal Barrier Amount , youwill lose more 25.00% of yourprincipal amount at maturity andcould amount at maturit Stock Initial closing price of one Refere nce Stock PricingDate Value: The one Refere nce Stock ation Date Factor: The Adjust ment Factor referen ced in determi one of the Refere nce Stock and is set on the The subjectto adjust ment occurre certain corporate nce Stock. See “The Underlyings — nce Stocks ments” Underly ings —Refere nce Stocks ReorganizationEvents” in the accom product for furtherinformation. PS-2 | Structu Invest of AppleInc. Suppl ement Terms of the Notes Any values Refere nce Stock,and anyvalues derived include d in this event manife or inconsi stency,by amend pricing and the corresp ondingterms Notwith standin anythin g to thecontrary in theindentu re governing thenotes, that amend ment will becom effectiv without of the notes party.Hypot Payout Profile and graphillustrate the hypotheticaltotalreturn and payment atmaturit to a Refere Stock. The