摩根大通美股招股说明书(2025-02-12版)

prelimin ment is not complete and arypricingsupplement is not anoffer tosell nordoes it securiti offer or sale is not Subjectto completion Februar Februar y,2025Registra tionStatement Nos.333- 270004 270004- 01; Rule424(b)(2)Pricingsupplem ent to productsupplement no. 4-IdatedApril 13,2023, underlying the prospectus andprospect us supplement,each datedApril 13,2023,and the prospectus addendum dated June 3,2024 organ Cha se Fina pany Stru cture stme nts 0® ondit Guar ante organ Cha The notes are times anyappreci the Index, um return of at 15.75% maturit Investo rs should willing dividen some or all of their principal amount at maturit The notes are unsecu red and gan Chase Financi Compa we refer to as JPMor gan which uncond itionallyguaranteed byJPMor payment on the notes subject to thecredit risk of JPMor ial, asissuerof thenotes, the JPMor as notes. Minimu m denominationsof $1,000and integralmultipl es thereof •The notes are expected to price on or Date”)and areexpected to settle Strike Value determ ined referen ce to the closin Index on Februa ry 10, 2025 the closin of the Date.• 48136 BTV3 notes es a numbe Factor beginning on the accom panying prospectus A to the accom panying prospectus adden “Risk Factor beginn accom panying produc t “Selec ted Risk Consid eration beginning on Neither the Securiti Exchan ge Commi nor anystate securiti es approv notes or passed upon the accura pricing the accom panying underlying supple ment,prospe ctus supple ment,prospe ctus prospectus addend um. representationto the contrar crimina offense Price to Fees Commi ssions Procee Per note $1,000— $ $ (1) See“Supplemental Use ofProceeds” in thispricing supplement forinformation about the components ofthe price to publicof thenotes.(2) All sales of made tocertainfee-based advisoryaccounts forwhich an affiliated or unaffiliat an investm broker-dealerswillforgo anycommissionsrelated to thesesales.See“Plan of Distributi on (Conflicts of productsupplement. If the the estima ted value of the notes would approximatel $997.0 amoun t note. estima ted notes, when the notes are pricing will not be amoun t note. See Estima ted Notes” ment for additio inform The notes deposits, are not insuredby theFederal DepositInsuran ce Corpor ation or govern mental or guarant red Invest ments Buffered NotesLinkedto theS&P 500®Index KeyTerms Issuer: JPMor ganChase Financi Company Chase Guara ntor: JPMor ganChase S&P 500® ticker: um Return :At 15.75% um payment atmaturit y of atleast$1,157.50 per $1,000principal amount note)(to beprovided in the Levera Factor: 1.50 Buffer Amou nt: 20.00% Downs ide Levera ge Factor: An amount to 1 / (1– Buffer Amoun PricingDate: Februa al Issue Date (Settle Februa 2026 Maturit Date*: August13,2026*Subject to postponement inthe event ofa marketdisruption event and asdescribed under“General Termsof Notes Postpon ement of a Determination Date —NotesLinkedto a SingleUnderlying — Linked SingleUnderlyi ng(OtherThan aCommo dityIndex)”and“General Termsof Notes Postpon ement of Payment Date” in theaccompanyingproduct supplement Maturit greaterthanthe Strike payme nt at maturit y per$1,000 principal amount note will be follows: $1,000+ ($1,000× Index Return × UpsideLevera Factor), subject to the Maxim um Return If the Value than Buffer Amoun receive the principal amount at maturit is less the Strike Value more the Buffer Amoun maturit y per $1,000principal amount note follows:$1,000+ [$1,000 × (IndexReturn+ Buffer Amoun Downsi de Levera than the Strike bymore than Buffer Amoun lose some or all of principal amountat maturit Index Return Strike The which was Strike closin on the Value: the on the ation Date PS-2 | Structu Invest ments Enhanc to theS&P500®Index Supplement Terms of the Notes Anyvaluesof the Index,and ment the event of manife st error or inconsi stency, amend ment of pricingsupplementand the corresp notes.Notwithstandin anything to thecontrary in the indentu re governing the amend ment will becom effectiv without holders notes or any other hetica Payou t Profil eThe following tableandgraph illustrat total return and payme nt at maturit to a hypoth etical The “total return” as used in number expressed as a percent agethat results from comparing the maturit $1,000principal amount note to hypoth returns assum followin g:•aStrikeValue of 100.00; Maxim um Return 15.75% Levera geFactorof 1.50; Buffer Amoun t of 20.00% ; and• a Downsi de Levera of 1.25. of 100.00 has been chosen for illustrati ve