JPMorgan Chase & Co.
12/11/2024 | Press release | Distributed by Public on 12/11/2024 10:32
Supplemental Prospectus (Form 424B3)
|
Amendment no. 1 |
Registration Statement No. 333-270004 Dated December 11, 2024 Rule 424(b)(3) |
Callable Fixed to Floating Rate Notes due November 14, 2039
The section entitled "Comparable Yield and Projected Payment Schedule" in the pricing supplement dated November 12, 2024, related to the notes referred to above (the "pricing supplement"), is amended, restated and superseded in its entirety by the following:
Comparable Yield and Projected Payment Schedule
Although it is not entirely clear how the comparable yield and projected payment schedule should be determined when a debt instrument may be redeemed by the issuer prior to maturity, we have determined that the "comparable yield," based upon the term to maturity of the notes assuming no early redemption occurs and a variety of other factors, including actual market conditions and our borrowing costs for debt instruments of comparable maturities at the time of issuance, is an annual rate of 5.32%, compounded quarterly. Based on our determination of the comparable yield, the "projected payment schedule" per $1,000 principal amount note consists of the following payments:
|
Interest Payment Dates |
Projected Payment Amounts |
Interest Payment Dates |
Projected Payment Amounts |
|
February 14, 2025 |
$20.00 |
August 14, 2032 |
$11.92 |
|
May 14, 2025 |
$20.00 |
November 14, 2032 |
$11.92 |
|
August 14, 2025 |
$20.00 |
February 14, 2033 |
$11.91 |
|
November 14, 2025 |
$20.00 |
May 14, 2033 |
$11.91 |
|
February 14, 2026 |
$20.00 |
August 14, 2033 |
$11.91 |
|
May 14, 2026 |
$20.00 |
November 14, 2033 |
$11.93 |
|
August 14, 2026 |
$20.00 |
February 14, 2034 |
$11.95 |
|
November 14, 2026 |
$20.00 |
May 14, 2034 |
$11.97 |
|
February 14, 2027 |
$11.19 |
August 14, 2034 |
$11.97 |
|
May 14, 2027 |
$11.22 |
November 14, 2034 |
$11.96 |
|
August 14, 2027 |
$11.27 |
February 14, 2035 |
$11.93 |
|
November 14, 2027 |
$11.34 |
May 14, 2035 |
$11.90 |
|
February 14, 2028 |
$11.42 |
August 14, 2035 |
$11.88 |
|
May 14, 2028 |
$11.52 |
November 14, 2035 |
$11.87 |
|
August 14, 2028 |
$11.58 |
February 14, 2036 |
$11.87 |
|
November 14, 2028 |
$11.63 |
May 14, 2036 |
$11.88 |
|
February 14, 2029 |
$11.67 |
August 14, 2036 |
$11.91 |
|
May 14, 2029 |
$11.72 |
November 14, 2036 |
$11.94 |
|
August 14, 2029 |
$11.74 |
February 14, 2037 |
$11.95 |
|
November 14, 2029 |
$11.73 |
May 14, 2037 |
$11.94 |
|
February 14, 2030 |
$11.72 |
August 14, 2037 |
$11.93 |
|
May 14, 2030 |
$11.73 |
November 14, 2037 |
$11.94 |
|
August 14, 2030 |
$11.75 |
February 14, 2038 |
$11.96 |
|
November 14, 2030 |
$11.78 |
May 14, 2038 |
$11.99 |
|
February 14, 2031 |
$11.82 |
August 14, 2038 |
$12.02 |
|
May 14, 2031 |
$11.86 |
November 14, 2038 |
$12.07 |
|
August 14, 2031 |
$11.88 |
February 14, 2039 |
$12.13 |
|
November 14, 2031 |
$11.90 |
May 14, 2039 |
$12.20 |
|
February 14, 2032 |
$11.91 |
August 14, 2039 |
$12.28 |
|
May 14, 2032 |
$11.92 |
November 14, 2039 |
$1,012.37 |
In addition, assuming a quarterly accrual period, the following table sets out the amount of OID that will accrue with respect to a note during each calendar period, based upon our determination of the comparable yield and projected payment schedule.
|
Calendar Period |
Accrued OID During Calendar Period (Per $1,000 Principal Amount Note) |
Total Accrued OID from Original Issue Date (Per $1,000 Principal Amount Note) as of End of Calendar Period |
|
November 14, 2024 through December 31, 2024…… |
$6.62 |
$6.62 |
|
January 1, 2025 through December 31, 2025……… |
$52.48 |
$59.10 |
|
January 1, 2026 through December 31, 2026……… |
$50.93 |
$110.03 |
|
January 1, 2027 through December 31, 2027……… |
$50.36 |
$160.39 |
|
January 1, 2028 through December 31, 2028……… |
$50.62 |
$211.01 |
|
January 1, 2029 through December 31, 2029……… |
$50.84 |
$261.84 |
|
January 1, 2030 through December 31, 2030……… |
$51.05 |
$312.89 |
|
January 1, 2031 through December 31, 2031……… |
$51.26 |
$364.15 |
|
January 1, 2032 through December 31, 2032……… |
$51.46 |
$415.60 |
|
January 1, 2033 through December 31, 2033……… |
$51.66 |
$467.26 |
|
January 1, 2034 through December 31, 2034……… |
$51.87 |
$519.14 |
|
January 1, 2035 through December 31, 2035……… |
$52.10 |
$571.24 |
|
January 1, 2036 through December 31, 2036……… |
$52.35 |
$623.58 |
|
January 1, 2037 through December 31, 2037……… |
$52.60 |
$676.18 |
|
January 1, 2038 through December 31, 2038……… |
$52.86 |
$729.04 |
|
January 1, 2039 through November 14, 2039…….…… |
$46.53 |
$775.56 |
The comparable yield and projected payment schedule are determined solely to calculate the amount on which you will be taxed with respect to the notes in each year and are neither a prediction nor a guarantee of what the actual yield or timing of the payment or payments will be. The amounts you actually receive on any Interest Payment Date, at maturity or upon any earlier sale or exchange of your notes will affect your income for that year, as described above under "Material U.S. Federal Income Tax Consequences."
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CUSIP: |
48130CUY9 |
Investing in the notes involves a number of risks. See "Risk Factors" beginning on page S-2 of the accompanying prospectus supplement, "Risk Factors" beginning on page PS-11 of the accompanying product supplement and "Selected Risk Considerations" beginning on page PS-3 of the pricing supplement.
Neither the Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this amendment, the pricing supplement or the accompanying product supplement and prospectus supplement and prospectus. Any representation to the contrary is a criminal offense.
The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank.
You should read this amendment together with the pricing supplement and the related product supplement and prospectus supplement and prospectus, each of which can be accessed via the hyperlinks below. Please also see "Additional Terms Specific to the Notes" in the pricing supplement.
●Pricing supplement dated November 12, 2024:
http://www.sec.gov/Archives/edgar/data/19617/000121390024097847/ea0221167-01_424b2.htm
●Product supplement no. 1-I dated April 13, 2023:
http://www.sec.gov/Archives/edgar/data/1665650/000121390023029554/ea152829_424b2.pdf
●Prospectus supplement and prospectus, each dated April 13, 2023:
http://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf