Obligation JPMorgan Chase & Co. 0% ( XS1879150669 ) en USD

JPMorgan Chase & Co.

100 % ▲

Etats-unis

XS1879150669 ( en USD )

02/07/2025

Prospectus brochure de l'obligation JPMorgan Chase Bank XS1879150669 en USD 0%, échéance 02/07/2025

1 000 USD

100 000 USD

JPMorgan Chase & Co. est une banque multinationale américaine et une société de services financiers offrant des services bancaires de détail et commerciaux, des services d'investissement, de gestion de patrimoine et de cartes de crédit à travers le monde.

L'Obligation émise par JPMorgan Chase & Co. ( Etats-unis ) , en USD, avec le code ISIN XS1879150669, paye un coupon de 0% par an.
Le paiement des coupons est semestriel et la maturité de l'Obligation est le 02/07/2025

Execution Version
PRICING SUPPLEMENT
MiFID II product governance / Professional investors and ECPs only target market Solely for the
purposes of the manufacturer's product approval process, the target market assessment in respect of the
Securities has led to the conclusion that: (i) the target market for the Securities is eligible counterparties and
professional clients only, each as defined in Directive 2014/65/EU (as amended, "MiFID II"); and (ii) all
channels for distribution of the Securities to eligible counterparties and professional clients are appropriate. Any
person subsequently offering, selling or recommending the Securities (a "distributor") should take into
consideration the manufacturer's target market assessment; however, a distributor subject to MiFID II is
responsible for undertaking its own target market assessment in respect of the Securities (by either adopting or
refining the manufacturer's target market assessment) and determining appropriate distribution channels.
PROHIBITION OF SALES TO EEA AND UK RETAIL INVESTORS: The Securities are not intended to
be offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to
any retail investor in the European Economic Area ("EEA") or the United Kingdom. For these purposes, a retail
investor means a person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of
MiFID II; (ii) a customer within the meaning of Directive (EU) 2016/97 (as amended, the "Insurance
Distribution Directive"), where that customer would not qualify as a professional client as defined in point (10)
of Article 4(1) of MiFID II; or (iii) not a qualified investor as defined in the Prospectus Regulation (as defined
below). Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended,
the "PRIIPs Regulation") for offering or selling the Securities or otherwise making them available to retail
investors in the EEA or the United Kingdom has been prepared and therefore offering or selling the Securities or
otherwise making them available to any retail investor in the EEA or the United Kingdom may be unlawful
under the PRIIPs Regulation. Notwithstanding the above, if the Dealer subsequently prepares and publishes a
key information document under the PRIIPs Regulation in respect of the Securities, then the prohibition on the
offering, sale or otherwise making available the Securities to a retail investor as described above shall no longer
apply.
Pricing Supplement dated 3 July 2020
JPMorgan Chase Bank, N.A.
Legal Entity Identifier (LEI): 7H6GLXDRUGQFU57RNE97
Structured Products Programme for the issuance of Notes, Warrants and Certificates
USD 100,000 Certificates linked to the STOXX Global 1800 Industry Consumer Goods Net Return EUR
Index, due July 2025 (the "Securities")
The offering circular dated 23 April 2020 and the Supplement(s) to the offering circular listed in the Annex
hereto (as so supplemented, the "Offering Circular") (as completed and (if applicable) amended by this Pricing
Supplement) has been prepared on the basis that any offer of Securities in any Member State of the EEA or the
United Kingdom (each, a "Relevant State") will be made pursuant to an exemption under the Prospectus
Regulation from the requirement to publish a prospectus for offers of the Securities. The expression
"Prospectus Regulation" means Regulation (EU) 2017/1129, as amended. Accordingly any person making or
intending to make an offer in that Relevant State of the Securities may only do so in circumstances in which no
obligation arises for the Issuer or any Dealer to publish a prospectus pursuant to Article 3 of the Prospectus
Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation, in each case, in
relation to such offer. Neither the Issuer nor any Dealer has authorised, nor do they authorise, the making of any
offer of Securities in any other circumstances.
The Securities may only be offered and the Offering Circular and this Pricing Supplement as well as any other
offering or marketing material relating to the Securities may only be distributed to investors in or into
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Switzerland pursuant to an exception from the prospectus requirement under the Swiss Financial Services Act
("FinSA"), as such terms are defined under the FinSA.
Neither this document nor the Offering Circular constitute a prospectus within the meaning of the FinSA and no
prospectus pursuant to the FinSA will be prepared in connection with such offering of the Securities.
If you purchase the Securities described in this Pricing Supplement after the date hereof, you should
review the most recent version (if any) of the Offering Circular and each supplement thereafter up to
(and including) the date of purchase to ensure that you have the most up to date information on the
Issuer on which to base your investment decision (note that the terms and conditions of the Securities will
remain as described in this Pricing Supplement and the version of the Offering Circular described above,
subject to any amendments notified to Holders). Each supplement and replacement version (if any) to the
Offering Circular can be found on (www.bourse.lu) and (www.ise.ie).
RISK FACTORS
Purchase of these Securities involves substantial risks
Investors should ensure that they understand the nature of the risks posed by, and the extent of their exposure
under, the Securities. Investors should make all pertinent inquiries they deem necessary without relying on the
Issuer or the Dealer. Investors should consider the suitability of the Securities as an investment in light of their
own circumstances, investment objectives, tax position and financial condition. Investors should consider
carefully all the information set forth in this Pricing Supplement along with all the information set forth in the
Offering Circular. Investors should pay particular attention to the section entitled "Risk Factors" in the Offering
Circular (pages 29 to 119 inclusive).
Investors should also take note of the Index Disclaimer set forth in the Schedule to this Pricing Supplement.
Unregulated Securities: The Securities do not constitute a participation in a collective investment scheme
within the meaning of the Swiss Federal Act on Collective Investment Schemes and are not subject to
supervision by the Swiss Financial Market Supervisory Authority FINMA
None of the Securities constitutes a participation in a collective investment scheme within the meaning of the
Swiss Federal Act on Collective Investment Schemes and none of the Securities is subject to approval,
registration or supervision by the Swiss Financial Market Supervisory Authority FINMA or any other
regulatory authority in Switzerland. Accordingly, investors do not have the benefit of the specific investor
protection provided under the Swiss Federal Act on Collective Investment Schemes and are exposed to the
credit risk of the Issuer.

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PART A - CONTRACTUAL TERMS
Terms used herein shall be deemed to be defined as such for the purposes of the General Conditions and the
Specific Product Provisions (as may be amended and/or supplemented up to, and including, 7 July 2020) set
forth in the Offering Circular. Full information on the Issuer and the offer of the Securities is only available on
the basis of the combination of this Pricing Supplement and the Offering Circular (including all documents
incorporated by reference). The Offering Circular (including all documents incorporated by reference) is
available from The Bank of New York Mellon S.A./N.V., Luxembourg Branch, at Vertigo Building, Polaris, 2-
4 rue Eugène Ruppert, L-2453, Luxembourg, and The Bank of New York Mellon S.A./N.V., Dublin Branch, at
Riverside 2, Sir John Rogerson's Quay, Grand Canal Dock, Dublin 2, Ireland, and in electronic form on the
Luxembourg Stock Exchange's website (www.bourse.lu).
1.
(i)
Issuer:
JPMorgan Chase Bank, N.A.
2.
(i)
Series Number:
2018-32143

(ii)
Tranche Number:
One
3.
Specified Currency or Currencies:
United States dollars ("USD" or "U.S.$")
4.
Notes, Warrants or Certificates:
Certificates
5.
Aggregate Notional Amount:

(i)
Series:
USD 100,000

(ii)
Tranche:
USD 100,000
6.
Issue Price:
32.60 per cent. of the Aggregate Notional
Amount

The Issue Price specified above may be more
than the market value of the Securities as at
the Issue Date, and the price, if any, at which
the Dealer or any other person is willing to
purchase the Securities in secondary market
transactions is likely to be lower than the
Issue Price. In particular, where permitted by
applicable law and subject to any additional
ex ante cost disclosure required by such, the
Issue Price may take into account amounts
with respect to commissions relating to the
issue and sale of the Securities as well as
amounts relating to the hedging of the Issuer's
obligations
under
the
Securities
and
secondary market prices may exclude such
amounts.

If any commissions or fees relating to the
issue and sale of the Securities have been paid
or are payable by the Dealer to an
intermediary, then such intermediary may be
obliged to fully disclose to its clients the
existence, nature and amount of any such
commissions or fees (including, if applicable,
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by way of discount) as required in accordance
with laws and regulations applicable to such
intermediary,
including
any
legislation,
regulation and/or rule implementing the
Markets in Financial Instruments Directive
(Directive 2014/65/EU, as amended), or as
otherwise may apply in any non-EEA
jurisdictions

Investors in the Securities intending to invest
in
Securities
through
an
intermediary
(including by way of introducing broker)
should request details of any such commission
or fee payment from such intermediary before
making any purchase hereof

(i)
Notional Amount per Certificate:
USD 1,000 per Security

(ii)
Trading in Units (Notes):
Not Applicable

(iii)
Minimum trading size:
The Securities may only be traded in a
minimum initial amount of one Security
(corresponding to a Notional Amount of USD
1,000) and, thereafter, in multiples of one
Security (corresponding to a Notional
Amount of USD 1,000)
7.
Issue Date:
7 July 2020
8.
Settlement Date and Redemption Date:
2 July 2025
PROVISIONS APPLICABLE TO NOTES
Paragraphs 9-21 are intentionally deleted
PROVISIONS APPLICABLE TO WARRANTS
Paragraphs 22-34 are intentionally deleted
PROVISIONS APPLICABLE TO CERTIFICATES
35.
Cash Settlement/Physical Settlement:
Cash Settlement is applicable
36.
Call Option:
Not Applicable
37.
Put Option:
Not Applicable
38.
Redemption Amount:
See Part C below

In cases where the Redemption Amount is Share
Linked, Index Linked, Commodity Linked, FX
Linked, Fund Linked or other variable linked:

(i)
Reference Asset(s):
The Index

(ii)
Provisions for determining Redemption As specified in Part C below
Amount where calculated by reference to
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Share and/or Index and/or Commodity
and/or FX Rate and/or Fund and/or other
variable:

(iii)
Provisions for determining Redemption See paragraph 44 and Part C below
Amount where calculation by reference to
Share and/or Index and/or Commodity
and/or FX Rate and/or Fund and/or other
variable is impossible or impracticable or
otherwise disrupted:
39.
Early Payment Amount:
Early Payment Amount 2 is applicable
40.
Exercise applicable to Certificates (General Not Applicable
Condition 10):
CERTIFICATE COUPON PROVISIONS
41.
Certificate
Coupon
Provisions
(General Not Applicable
Condition 8):
42.
Certificate Floating Rate Coupon Provisions Not Applicable
(General Condition 8.3):
SPECIFIC PRODUCT PROVISIONS APPLICABLE TO THE SECURITIES
SHARE LINKED PROVISIONS
43.
Share Linked Provisions:
Not Applicable
INDEX LINKED PROVISIONS
44.
Index Linked Provisions:
Applicable

(i)
Single Index or basket of Indices:
Single Index

(ii)
Index/Indices:
The STOXX Global 1800 Industry Consumer
Goods Net Return EUR Index (Bloomberg
Code: SXW1I3R <Index>)

(iii)
Type of Index:
Multi-Exchange Index

(iv)
Exchange(s):
As specified for a Multi-Exchange Index in
paragraph (b) of the definition of "Exchange"
in Index Linked Provision 9 (Definitions)

(v)
Related Exchange(s):
All Exchanges

(vi)
Index Sponsor:
STOXX Limited

(vii) Index Level:
Not Applicable

(viii) Initial Valuation Date(s):
23 June 2020

(ix)
Interest Valuation Date(s):
Not Applicable

(x)
Coupon Valuation Date(s):
Not Applicable
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(xi)
Periodic Valuation Date(s):
Not Applicable

(xii) Valuation Date(s):
Each of:
(i)
22 June 2021;
(ii)
22 June 2022;
(iii)
22 June 2023;
(iv)
22 June 2024; and
(v)
22 June 2025.
The Valuation Date in respect of the Index
scheduled to fall on 22 June 2021 shall be the
"First Valuation Date".

(xiii) Initial Averaging Date(s):
Not Applicable

(xiv) Averaging Date(s):
Not Applicable

(xv)
Valuation Time:
In respect of each Valuation Date, as
specified in Index Linked Provision 9
(Definitions)

(xvi) Maximum Days of Disruption:
In respect of each Valuation Date, six
Scheduled Trading Days

(xvii) Averaging Reference Dates (Disrupted Not Applicable
Day consequences):

(xviii) Fallback Valuation Date:
Applicable: in respect of each Valuation Date
(as defined in the Index Linked Provisions),
the second Business Day prior to the
Redemption Date, as specified in Index
Linked Provision 9 (Definitions)

(xix) Observation Period:
Not Applicable

(xx)
Change in Law - Increased Cost:
Not Applicable

(xxi) Hedging Disruption:
Not Applicable

(xxii) Consequences of the occurrence of a Not Applicable
Market Disruption Event (VWC) (Index
Linked Provision 7):
COMMODITY LINKED PROVISIONS
45.
Commodity Linked Provisions:
Not Applicable
FX LINKED PROVISIONS
46.
FX Linked Provisions:
Not Applicable
FUND LINKED PROVISIONS
47.
Fund Linked Provisions:
Not Applicable
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MARKET ACCESS PARTICIPATION PROVISIONS
48.
Market Access Participation Provisions:
Not Applicable
LOW EXERCISE PRICE WARRANT PROVISIONS
49.
Low Exercise Price Warrant Provisions:
Not Applicable
ADDITIONAL RATES FALLBACK PROVISIONS
50.
Additional Rates Fallback Provisions:
Not Applicable
BOND LINKED PROVISIONS
51.
Bond Linked Provisions:
Not Applicable

GENERAL PROVISIONS APPLICABLE TO THE SECURITIES
52.
New Safekeeping Structure (in respect of Not Applicable
Registered Notes) or New Global Note: (in
respect of Bearer Notes):

53.
Form of Securities:
Registered Securities

(i)
Temporary or Permanent Bearer Global
Temporary Registered Global Security which
Security / Registered Global Security:
is exchangeable for a Permanent Registered
Global
Security,
each
of
which
is
exchangeable
for
Registered
Definitive
Securities (i) automatically in the limited
circumstances specified in the relevant
Registered Global Security or (ii) in the case
of a Permanent Registered Global Security
only, at any time at the option of the Issuer by
giving notice to the Holders and the Registrar
of its intention to effect such exchange on the
terms as set forth in the relevant Permanent
Registered Global Security

(ii)
Are the Notes to be issued in the form of No
obligations under French law?

(iii)
Name of French Registration Agent
Not Applicable

(iv)
Representation of Holders of Notes / Not Applicable
Masse:

(v)
Regulation S/Rule 144A Securities:
Not Applicable
54.
Record Date:
As set out in the General Conditions
55.
Additional
Financial
Centre(s)
(General Not Applicable
Condition 12.2) or other special provisions
relating to payment dates:
56.
Payment Disruption Event (General Condition
13):
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Relevant Currency:
Specified Currency
57.
Extraordinary
Hedge
Disruption
Event Applicable
(General Condition 17):

(i)
Extraordinary Hedge Sanctions Event:
Applicable

(ii)
Extraordinary Hedge Bail-in Event:
Applicable

(iii)
Extraordinary Hedge Currency Disruption
Applicable
Event:
58.
Early Redemption for Tax on Underlying Not Applicable
Hedge
Transactions
(General
Condition
18.4(b)):
59.
Disruption Event (General Condition 19):
Not Applicable
60.
Physical Settlement:
Not Applicable
61.
Calculation Agent:
J.P. Morgan Securities plc
62.
Redenomination,
renominalisation
and Not Applicable
reconventioning provisions:
63.
Gross Up (General Condition 18):
Applicable as specified in General
Condition 18.1

(i)
Exclude Section 871(m) Taxes from Applicable as specified in General
Gross Up (General Condition 18):
Condition 18.1

(ii)
871(m) Securities:
Section
871(m)
and
the
regulations
promulgated thereunder will not apply to the
Securities
64.
Rounding:
General Condition 23 applies
65.
Other terms or special conditions:
Applicable see Part C
DISTRIBUTION
66.
If non-syndicated, name and address of Dealer: J.P. Morgan Securities plc of 25 Bank Street,
Canary Wharf, London E14 5JP
67.
Stabilising Manager(s) (if any):
Not Applicable
68.
Total commission and concession:
Not Applicable
69.
U.S. selling restrictions:
Regulation S

ERISA Restrictions for all Securities
(including Rule 144A Securities and
Securities subject to Regulation S)

The Securities may not be acquired except
subject to certain restrictions by, on behalf of,
or with the assets of any plans subject to
ERISA or Section 4975 of the U.S. Internal
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Revenue Code, as amended, subject to certain
restrictions. See "Subscription and Sale
United States" and "Purchaser representations
and requirements and transfer restrictions
ERISA Legends and ERISA Restrictions
(a) JPMorgan Chase Bank, N.A. or JPMorgan
Chase & Co. issued Securities" in the
Offering Circular.
70.
ECI Holder Restrictions:
Not Applicable
71.
Additional Selling Restrictions:
Not Applicable
72.
Swiss Public Offer:
No
73.
Prohibition of Sales to EEA and UK Retail Applicable
Investors:
GENERAL
74.
The aggregate principal amount of Notes issued Not Applicable
has been translated into U.S. dollars at the rate of
[] 1 = U.S.$ [], producing a sum of (for Notes
not denominated in U.S. dollars):

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PURPOSE OF PRICING SUPPLEMENT
This Pricing Supplement comprises the pricing supplement required for the issue, and listing and admission to
trading on the Luxembourg Stock Exchange's Euro MTF, of the Securities described herein pursuant to the
Structured Products Programme for the issuance of Notes, Warrants and Certificates of JPMorgan Chase
Financial Company LLC, J.P. Morgan Structured Products B.V., JPMorgan Chase Bank N.A. and JPMorgan
Chase & Co.
GOVERNING LAW AND JURISDICTION
Securities:

English law/Courts of England
RESPONSIBILITY
The Issuer accepts responsibility for the information contained in this Pricing Supplement. Information on the
Reference Asset has been provided by the Index Sponsor. The Issuer confirms that such information has been
accurately reproduced and that, so far as it is aware, and is able to ascertain from the relevant information, no
facts have been omitted which would render the reproduced information inaccurate or misleading.
An investor intending to acquire or acquiring any Securities from an offeror will do so, and offers and sales of
the Securities to an investor by an offeror will be made, in accordance with any terms and other arrangements in
place between such offeror and such investor including as to price, allocations and settlement arrangements. The
Issuer will not be a party to any such arrangements with investors (other than the Dealer(s)), in connection with
the offer or sale of the Securities and, accordingly, this Pricing Supplement will not contain such information.
The investor must look to the offeror at the time of such offer for the provision of such information. The Issuer
has no responsibility to an investor in respect of such information.

Signed on behalf of the Issuer:
By: ________________________
Duly authorised

UK - 642208257.1/CMS(WJD/DVML)/HM
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