摩根大通美股招股说明书(2025-02-05版)

preliminary ment is not complete and not anoffer tosell nordoes it securiti anyjurisdic sale is not Subjectto completion dated January31, Februar y,2025 Registration 333- 270004 270004-01; Rule424(b)(2) dated ng dated April 13,2023,the prospect us and prospectus supplem addend dated 2024 orga Cha se Fina ncial panyLLC Stru cture stme nts Guar ante organ Cha ●The notes times anyappreci the the and the Index um return of at 17.10% maturit Investo rs should interest dividen willing to lose some principal amountat maturit notes are unsecured andunsubo rdinate obligations of JPMorgan Chase al refer to as JPMorg an Financial, thepayme unconditionallyguaranteed by JPMorgan Chase notes subject to the gan Financial, asissuerof the notes,and the credit risk of JPMor ganChase & Co.,as guarantor of the notes. Payme nts on the notes are not linked to a basket compo sed of Indices. nts on the notes are each of below. Minimu m denomi nations $1,000and integralmultiples thereof ●The notes are expect Februa and are on or 2025.● CUSIP: 48136B Investi involve s a numbe risks. See “Risk Factor beginning on the accom panying prospectus Annex A to the accom panying prospectus adden beginning on PS-11 accom gproduc supple ment “Select ed Risk eration beginning on this Neither the Securiti Exchan securiti es commission has approved ordisappr oved of the notes or passed accura adequacy of this the accom prospe ctus prospe ctus prospectus addend um. represe contrar criminaloffense 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 $7.50 per$1,000principal “Plan of Distribut (Conflicts of productsupplement. the estima ted value of the approximately$980.80 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 mentsCappedAccelerated BarrierNotesLinkedto the LesserPerforming ofthe Russell2000®Indexand the S&P500®Index Terms Issuer: JPMorgan Chase Financi a direct,whollyowned financesubsidiary ofJPMorg an Chase Guara ntor: JPMorgan Chase Russell 2000® ticker: 500® ticker: an “Index” collecti the “Indice um Return :At 17.10%(corresponding to a maxim um payment at $1,171. 00 per$1,000principal amount d in the UpsideLevera Factor: 1.25 Barrier respectto eachIndex,70.00% Pricing Date: Date Date):On or March Maturit Date*:April 2,2026 * Subjectto postponement of a market disruption event describ ed under “Gener al of Notes Postponementof a Determ Date — Notes Linked to MultipleUnderly “Gener of Notes Postponement of a Payme nt Date” in the accom panying product Payment at Maturit Value of eachIndex isgreaterthan its Initial Value,your payme nt at maturit y per$1,000 principal amount note will be $1,000+ ($1,000× Return × UpsideLevera Factor),subjectto the Maxim um Return Final either Index is than its greaterthan orequalto its Barrier Amount receive principal amount maturit of either Index is Amount , your maturit y per $1,000principal amount note follows:$1,000+ ($1,000 × Perfor Index Return)If theFinal Value Index is lessthan itsBarrierAmount lose more than30.00%of yourprincip al amount at maturit y andcouldlose allof your principal amountat maturit Lesser Perfor with the Return Perfor Return s of the :With With respectto eachIndex, the Final Value: respect closing level of that Observ ation Date PS-2 | Structu Invest mentsCappedAccelerated BarrierNotesLinkedto the LesserPerforming ofthe Russell2000®Indexand the S&P500®Index Suppl ement Terms of the Notes Any 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 two etical Indices. “total return” as used in pricingsupplement isthe number expressed as a percent age,that results from comparing the maturit y per $1,000principal amount note to hypoth returns assum followin an Perfor of 100.00;●a Maxim um Return 17.10% ge Factor a Barrier Perfo