JPMorgan Notes Hit Market with Lower Estimated Value Than Original Issue Price

JPMorgan Chase & Co., one of the largest financial institutions in the US, has issued a set of notes that reflect the risk-return profile and market exposure provided by these notes. The estimated value of these notes is lower than their original issue price due to various costs associated with selling, structuring, and hedging.

The notes are offered to meet investor demand for products that provide the specific risk-return profile and market exposure. The original issue price includes selling commissions paid to JPMorgan Chase & Co. and other affiliated or unaffiliated dealers, projected profits or losses of their affiliates in hedging obligations, estimated costs of hedging, and fees for third-party data analytics and electronic platform services.

The notes will be valid and binding obligations of JPMorgan Financial and the related guarantee will constitute a valid and binding obligation of JPMorgan Chase & Co., subject to applicable laws affecting creditors' rights. The opinion on the validity of the notes is given by Davis Polk & Wardwell LLP, as special products counsel to JPMorgan Financial.