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North America Structured Investments
3yr Auto Callable Review Notes Linked to SPX/RTY
Overview
May be appropriate for investors who seek early exit prior to maturity at a
premium if, on any Review Date, the Index closing level of each of the Indices
is at or above its Call Level. If the notes have not been automatically called,
investors will receive their principal back at maturity if the Ending Index
Level of each Index is less than its Initial Index Level by up to the Buffer
Amount, but will lose some or all of their principal if the Ending Index Level
of either Index is less than its Initial Index Level by more than the Buffer
Amount.
You may lose some or all of your principal at maturity. Any payment on the
notes is subject to the credit risk of JPMorgan Chase and Co.
Summary of Terms
Issuer: JPMorgan Chase and Co.
Minimum Denomination: $1,000.00
Indices: SandP 500 Index (SPX) and Russell 2000 Index (RTY) Pricing Date: January
27, 2015
Final Review Date: January 29, 2018
Maturity Date: February 01, 2018
Call Level: With respect to each Index, an amount that represents 100% of its
Initial Index Level for each Review Date Review Dates: February 03, 2016,
January 27, 2017 and January 29, 2018 (final Review Date) Payment if Called*:
For every $1,000 principal amount note, you will receive one payment of $1,000
plus a call premium amount, calculated as follows: at least 9.00% [] $1,000
if automatically called on the first Review Date at least 18.00% [] $1,000
if automatically called on the second Review Date at least 27.00% [] $1,000
if automatically called on the final Review Date
Buffer Amount: 25%
Initial Index Level: With respect to each Index, the closing level of that
Index on the Pricing Date Ending Index Level: With respect to each Index, the
closing level of that Index on the Final Review Date CUSIP: 48127D4Z8
Preliminary Term sheet: http://sp. jpmorgan.
com/document/cusip/48127D4Z8/doctype/Product_Termsheet/document. pdf
For more information about the estimated value of the notes, which likely will
be lower than the price you paid for the notes, please see the hyperlink above.
* To be determined on the Pricing Date, but not less than 9.00%.
Automatic Call
If the Index closing level of each Index on any Review Date is greater than or
equal to the applicable Call Level, the notes will be automatically called for
a cash payment per $1,000 principal amount note that will vary depending on the
applicable Review Date and call premium and that will be payable on the
applicable Call Settlement Date.
Payment at Maturity
If the notes have not been automatically called and the Ending Index Level of
each Index is greater than or equal to its Initial Index Level, you will
receive a cash payment at maturity, for each $1,000 principal amount note,
equal to $1,270 If the notes have not been automatically called and the Ending
Index Level of each Index is less than its Initial Index Level by up to the
Buffer Amount, you will receive the principal amount of your notes at maturity.
If the notes have not been automatically called and the Ending Index Level of
either Index is less than its Initial Index Level by more than the Buffer
Amount, you will lose 1% of the principal amount of your notes for every 1%
that the Ending Index Level of the Lesser Performing Index is less than its
Initial Index Level.
Hypothetical Amount Payable**
-------------------------------------------------- ---------------
Lesser Performing Total Return if Total Return if Total Return at
Called at First Called at Second Final Review
Index Return Review Date*** Review Date*** Date***
----------------- --------------- ---------------- ---------------
80.00% 9.00% 18.00% 27.00%
----------------- --------------- ---------------- ---------------
60.00% 9.00% 18.00% 27.00%
----------------- --------------- ---------------- ---------------
40.00% 9.00% 18.00% 27.00%
----------------- --------------- ---------------- ---------------
20.00% 9.00% 18.00% 27.00%
----------------- --------------- ---------------- ---------------
5.00% 9.00% 18.00% 27.00%
----------------- --------------- ---------------- ---------------
0.00% 9.00% 18.00% 27.00%
----------------- --------------- ---------------- ---------------
-5.00% N/A N/A 0.00%
----------------- --------------- ---------------- ---------------
-20.00% N/A N/A 0.00%
----------------- --------------- ---------------- ---------------
-25.00% N/A N/A 0.00%
----------------- --------------- ---------------- ---------------
-25.01% N/A N/A -25.01%
----------------- --------------- ---------------- ---------------
-60.00% N/A N/A -60.00%
----------------- --------------- ---------------- ---------------
-80.00% N/A N/A -80.00%
----------------- --------------- ---------------- ---------------
-100.00% N/A N/A -100.00%
** The hypothetical returns on the notes shown above apply only if you hold the
notes for their entire term or until automatically called. These hypotheticals
do not reflect fees or expenses that would be associated with any sale in the
secondary market. If these fees and expenses were included, the hypothetical
returns and hypothetical interest payments shown above would likely be lower
***Returns outlined above are in addition to the return of principal if the
notes are called on any review date.
Payment at Maturity (Continued)
If the notes have not been automatically called and the Ending Index Level of
either Index is less than its Initial Index Level by more than the Buffer
Amount, you will lose more than 25% of you principal amount and could lose up
to the entire principal amount of your notes at maturity.
Capitalized terms used but not defined herein shall have the meaning set forth
in the preliminary term sheet.
J.P. Morgan Structured Investments | 1 800 576 3529 |
jpm_structured_investments@jpmorgan.com
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