J.P. Morgan R.BO.Z 28.11.25 DAX Bonus Zert.

This Reverse Bonus Certificate is linked to DAX, the underlying instrument, and has a term ending on November 28, 2025. The investor benefits from a negative performance of the underlying. The product features a protection level of points 25,250.00 and a reverse level of points 27,500.00. If the underlying never trades at or above the protection level during the observation period from July 17, 2025 until November 21, 2025, the investor receives a redemption in the amount of the reverse level, less the level of the underlying times the multiplier of 0.01 at the end of the term; at least the bonus amount of EUR 125.00. If the protection level is touched or penetrated, the bonus amount claim will lapse; redemption will be made at the end of the term and amount to the reverse level, less the level of the underlying, adjusted for the multiplier.