摩根大通美股招股说明书(2025-02-07版)

preliminary ment is not complete and not anoffer tosell nordoes it securiti anyjurisdic sale is not Subjectto completion Februar y 6,2025 Februar Registra tionStatement Nos.333- 270004 270004- 01; Rule424(b)(2)Pricingsupplem ent toproductsupplement no. 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 capped, unlever anyappreci Maxim um of at 35.10% capped, unlever return e value Buffer Amount of 25.00%), of theRefere nce Stock at maturit Investo rs should be willingto forgointerest and dividen payme nts and 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. Minimu m $1,000 integralmultiples thereof •The notes are on or about and are settle 2025.• 48136B Investi notes involve s a numbe risks. beginning on S-2 of the accom gprospe ctus supple ment,Annex A to the accom panying prospe Factor beginning on of the accom panying produc “Select ed Risk Consid eration beginning on PS-4 of Neither the Securiti Exchan Commi ssion nor any state securiti es commis sion approved or the notes or passed accura adequa ment or the accom gproduct prospectus prospectus prospe ctus addend um. representationto thecontrar y is acriminaloffense 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 $15.00 per$1,000principal “Plan of Distribut (Conflicts of productsupplement. the estima ted value of the 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 Directio Buffered of NVIDIA KeyTerms Issuer: JPMorgan Chase Financi a direct,whollyowned financesubsidiary ofJPMorg an Chase & Co. Guara ntor: JPMorgan Chase Refere nce Stock: The commo of NVIDIA $0.001 per share(Bloombergticker: NVDA).We as “NVIDI A.” Maxim um 35.10%(corresponding to a maxim um payment at maturit Return positiveof atleast $1,351.00 per$1,000princip al amountnote)(to be pricing Amoun t: 25.00% PricingDate: Februa Date Date):On or Februa ation Date*: August20, Maturit Date*: August 25,2026* Subject to postponementin the of a on eventand asdescrib ed under “Gener al of Notes Postponement of a Determ ination Date — to a Notes Single Underlying(OtherThan a “Gener al Termsof Notes Postponement of a nt Date” in the accom productsupplement Final Value greater than the maturit y per$1,000principal amount ($1,000× StockReturn), um Value Value than the Buffer Amount , your maturit y per $1,000principal amount note follows:$1,000+ ($1,000 Absolute StockReturn) This payoutformularesults effectiv 25.00% on yourreturn maturity if theStockReturn negative. Under circums maxim um payme nt atmaturity is$1,250. 00 per$1,000principal Value Initial Value bymore than the Buffer Amount maturit y per$1,000principal amount [$1,000× (StockReturn + Buffer FinalValueis lessthan the by more than the Buffer Amount , youwilllose some al amountat maturit Absolu te Stock absolut e value Return. For example, if theStock Absolut e Stock Return will Stock Return The one Refere nce Final closing price of one Refere nce Stock Observ ation Date Stock Adjustment Factor: referen determi one Refere nce set Date. The ment Factor subject to upon the occurre corporate eventsaffectin nce Stock. See “The Underlyings — Refere nce Dilution “The Underlyings — nce Stocks Reorga nization accom panying ment for further informa PS-2 | Structu Invest ments Directio Buffered of NVIDIA Supplement Terms of the Notes Anyvaluesof the Refere nce Stock,and event manife st error or inconsi stency,by this and the of thenotes.Notwithstandin anything to thecontrar re governi ng thenotes,thatamend ment will becom effectiv e without consen t of the notes hetica Payou t Profile The following tableandgraph illustrat total return payme nt at maturit to a hypoth Refere nce Stock. The