New Issue: JPMorgan sells $200,000 capped buffered equity notes on basket of 17 security names

By Marisa Wong

Los Angeles, April 13 – JPMorgan Chase Financial Co. LLC priced $200,000 of 0% capped buffered equity notes due April 11, 2024 linked to an unequally weighted basket of 17 reference stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by JPMorgan Chase & Co.

The reference stocks are Crowdstrike Holdings, Inc., Cisco Systems, Inc., F5, Inc., Fortinet, Inc., General Dynamics Corp., Leidos Holdings, Inc., L3harris Technologies, Inc., Lockheed Martin Corp., Northrop Grumman Corp., Okta, Inc., Palo Alto Networks, Inc., Raytheon Technologies Corp., Sentinelone, Inc., Booz Allen Hamilton Holding Corp., Huntington Ingalls Industries, Inc., Tenable Holdings Inc. and Aeroviroment, Inc. The weights are given in the table below.

If the basket finishes above its initial level, the payout at maturity will be par plus the gain, subject to a maximum return of 24%.

If the basket finishes flat or falls by up to 20%, the payout will be par. Otherwise, investors will lose 1% for each 1% basket decline from the initial level.

On the base date, March 31, the closing level of the basket was set equal to 100. On any subsequent date, the closing level of the basket will be calculated as the sum of the weighted returns of the reference stocks.

The return of each reference stock on any trading day will be calculated with respect to the base date stock price.

The initial basket level is the closing level of the basket on the April 8 pricing date, which was 99.36. The final basket level will be the average of the closing levels of the basket on the five trading days ending April 8, 2024.

J.P. Morgan Securities LLC is the agent.

Issuer:	JPMorgan Chase Financial Co. LLC
Guarantor:	JPMorgan Chase & Co.
Issue:	Capped buffered equity notes
Underlying basket:	Crowdstrike Holdings, Inc. (Nasdaq: CRWD) with a 6.50% weight, Cisco Systems, Inc. (Nasdaq: CSCO) with a 6.50% weight, F5, Inc. (Nasdaq: FFIV) with a 6.50% weight, Fortinet, Inc. (Nasdaq: FTNT) with a 6.50% weight, General Dynamics Corp. (NYSE: GD) with a 6.50% weight, Leidos Holdings, Inc. (NYSE: LDOS) with a 6.50% weight, L3harris Technologies, Inc. (NYSE: LHX) with a 6.50% weight, Lockheed Martin Corp. (NYSE: LMT) with a 6.50% weight, Northrop Grumman Corp. (NYSE: NOC) with a 6.50% weight, Okta, Inc. (Nasdaq: OKTA) with a 6.50% weight, Palo Alto Networks, Inc. (NYSE: PANW) with a 6.50% weight, Raytheon Technologies Corp. (NYSE: RTX) with a 6.50% weight, Sentinelone, Inc. (NYSE: S) with a 6.50% weight, Booz Allen Hamilton Holding Corp. (NYSE: BAH) with a 5.69% weight, Huntington Ingalls Industries, Inc. (NYSE: HII) with a 4.97% weight, Tenable Holdings Inc. (Nasdaq: TENB) with a 3.53% weight, Aeroviroment, Inc. (Nasdaq: AVAV) with a 1.31% weight
Amount:	$200,000
Maturity:	April 11, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If the basket finishes above its initial level, par plus the gain, capped at 24%; if the basket finishes flat or falls by up to 20%, par; otherwise, 1% loss for each 1% basket decline from the initial level
Base date basket level:	100
Initial basket level:	99.36, closing level of the basket on pricing date
Final basket level:	Average of closing levels of basket on five trading days ending April 8, 2024
Base date share prices:	$227.08 for Crowdstrike, $55.76 for Cisco, $208.95 for F5, $341.74 for Fortinet, $241.18 for General Dynamics, $108.02 for Leidos, $248.47 for L3harris, $441.40 for Lockheed, $447.22 for Northrop, $150.96 for Okta, $622.51 for Palo Alto, $99.07 for Raytheon, $38.74 for Sentinelone, $87.84 for Booz Allen, $199.44 for Huntington, $57.79 for Tenable, $94.14 for Aeroviroment
Pricing date closing prices:	$218.21 for Crowdstrike, $54.28 for Cisco, $210.21 for F5, $335.83 for Fortinet, $242.04 for General Dynamics, $107.99 for Leidos, $258.03 for L3harris, $461.52 for Lockheed, $463.66 for Northrop, $142.86 for Okta, $608.23 for Palo Alto, $100.40 for Raytheon, $34.02 for Sentinelone, $88.85 for Booz Allen, $205.90 for Huntington, $56.27 for Tenable, $103.09 for Aeroviroment
Base date:	March 31
Pricing date:	April 8
Settlement date:	April 13
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	48133FHR9

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