Form 424B3 - Prospectus [Rule 424(b)(3)]
May 07 2024 - 5:22PM
Edgar (US Regulatory)
Amendment no. 1
To pricing supplement dated April 26, 2024 to prospectus dated April
13, 2023, prospectus supplement dated April 13, 2023 and product
supplement no. 1-I dated April 13, 2023
|
Registration Statement No. 333-270004
Dated May 7, 2024
Rule 424(b)(3) |
Callable Fixed to Floating Rate Notes due April
29, 2039
The section entitled “Comparable Yield and Projected Payment
Schedule” in the pricing supplement dated April 26, 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is amended, restated and superseded in its entirety by the following: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
We have determined that the “comparable yield”
is an annual rate of 5.24%, 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 |
July 30, 2024 |
$24.38 |
January 30, 2032 |
$10.82 |
October 30, 2024 |
$24.38 |
April 30, 2032 |
$10.81 |
January 30, 2025 |
$24.38 |
July 30, 2032 |
$10.81 |
April 30, 2025 |
$24.38 |
October 30, 2032 |
$10.81 |
July 30, 2025 |
$24.38 |
January 30, 2033 |
$10.81 |
October 30, 2025 |
$24.38 |
April 30, 2033 |
$10.82 |
January 30, 2026 |
$24.38 |
July 30, 2033 |
$10.83 |
April 30, 2026 |
$24.38 |
October 30, 2033 |
$10.84 |
July 30, 2026 |
$9.38 |
January 30, 2034 |
$10.83 |
October 30, 2026 |
$9.64 |
April 30, 2034 |
$10.81 |
January 30, 2027 |
$9.84 |
July 30, 2034 |
$10.78 |
April 30, 2027 |
$9.97 |
October 30, 2034 |
$10.74 |
July 30, 2027 |
$10.11 |
January 30, 2035 |
$10.71 |
October 30, 2027 |
$10.27 |
April 30, 2035 |
$10.69 |
January 30, 2028 |
$10.39 |
July 30, 2035 |
$10.69 |
April 30, 2028 |
$10.45 |
October 30, 2035 |
$10.69 |
July 30, 2028 |
$10.52 |
January 30, 2036 |
$10.70 |
October 30, 2028 |
$10.60 |
April 30, 2036 |
$10.72 |
January 30, 2029 |
$10.64 |
July 30, 2036 |
$10.72 |
April 30, 2029 |
$10.62 |
October 30, 2036 |
$10.70 |
July 30, 2029 |
$10.59 |
January 30, 2037 |
$10.68 |
October 30, 2029 |
$10.58 |
April 30, 2037 |
$10.68 |
January 30, 2030 |
$10.59 |
July 30, 2037 |
$10.69 |
April 30, 2030 |
$10.64 |
October 30, 2037 |
$10.71 |
July 30, 2030 |
$10.70 |
January 30, 2038 |
$10.73 |
October 30, 2030 |
$10.73 |
April 30, 2038 |
$10.77 |
January 30, 2031 |
$10.77 |
July 30, 2038 |
$10.82 |
April 30, 2031 |
$10.79 |
October 30, 2038 |
$10.88 |
July 30, 2031 |
$10.80 |
January 30, 2039 |
$10.95 |
October 30, 2031 |
$10.82 |
April 29, 2039 |
$1,010.91 |
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 under “Material
U.S. Federal Income Tax Consequences” in the pricing supplement. 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 |
April 30, 2024 through December 31, 2024 |
$40.26 |
$40.26 |
January 1, 2025 through December 31, 2025 |
$49.61 |
$89.87 |
January 1, 2026 through December 31, 2026 |
$47.70 |
$137.57 |
January 1, 2027 through December 31, 2027 |
$47.97 |
$185.53 |
January 1, 2028 through December 31, 2028 |
$48.32 |
$233.85 |
January 1, 2029 through December 31, 2029 |
$48.64 |
$282.49 |
January 1, 2030 through December 31, 2030 |
$48.96 |
$331.45 |
January 1, 2031 through December 31, 2031 |
$49.28 |
$380.73 |
January 1, 2032 through December 31, 2032 |
$49.60 |
$430.34 |
January 1, 2033 through December 31, 2033 |
$49.94 |
$480.28 |
January 1, 2034 through December 31, 2034 |
$50.30 |
$530.58 |
January 1, 2035 through December 31, 2035 |
$50.70 |
$581.27 |
January 1, 2036 through December 31, 2036 |
$51.12 |
$632.39 |
January 1, 2037 through December 31, 2037 |
$51.56 |
$683.95 |
January 1, 2038 through December 31, 2038 |
$52.02 |
$735.97 |
January 1, 2039 through April 29, 2039 |
$11.62 |
$747.59 |
Neither the comparable yield nor the projected payment
schedule constitutes a representation by us regarding the actual amount of any payment that we will make on the notes. The amount you
actually receive at maturity or earlier sale or exchange of your notes will affect your income for that year, as described under “Material
U.S. Federal Income Tax Consequences” in the pricing supplement.
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 April 26, 2024:
http://www.sec.gov/Archives/edgar/data/19617/000121390024037484/ea173542_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
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