April 2015
Pricing Sheet dated April 20, 2015 relating to
Preliminary Terms No. 356 dated April 16, 2015
Registration Statement No. 333-199966
Filed pursuant to Rule 433
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PRICING TERMS — April 20, 2015
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Issuer:
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JPMorgan Chase & Co.
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ETF Shares:
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Shares of the Market Vectors Gold Miners ETF
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Aggregate principal amount:
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$4,585,000
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Payment at maturity:
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· If the final share price is greater than the initial share price, for each $10 stated principal amount PLUS,
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$10 + leveraged upside payment
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In no event will the payment at maturity exceed the maximum payment at maturity.
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· If the final share price is less than or equal to the initial share price, for each $10 stated principal amount PLUS,
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$10 × share performance factor
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This amount will be less than or equal to the stated principal amount of $10 per PLUS.
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Leveraged upside payment:
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$10 × leverage factor × share percent increase
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Share percent increase:
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(final share price – initial share price) / initial share price
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Initial share price:
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The closing price of one ETF Share on the pricing date, which was $19.83
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Final share price:
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The closing price of one ETF Share on the valuation date
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Share adjustment factor:
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The share adjustment factor is referenced in determining the closing price of one ETF Share and is set initially at 1.0 on the pricing date. The share adjustment factor is subject to adjustment in the event of certain events affecting the ETF Shares. See “The Underlyings —Funds — Anti-Dilution Adjustments” in the accompanying product supplement no. 4a-I.
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Leverage factor:
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280%
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Share performance factor:
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final share price / initial share price
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Maximum payment at maturity:
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$15.00 (150.00% of the stated principal amount) per PLUS
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Stated principal amount:
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$10 per PLUS
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Issue price:
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$10 per PLUS (see “Commissions and issue price” below)
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Pricing date:
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April 20, 2015
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Original issue date (settlement date):
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April 23, 2015
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Valuation date:
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April 20, 2017, subject to postponement in the event of certain market disruption events and as described under “General Terms of Notes — Postponement of a Determination Date —Notes Linked to a Single Underlying — Notes Linked to a Single Underlying (Other Than a Commodity Index)” in the accompanying product supplement no. 4a-I
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Maturity date:
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April 25, 2017, subject to postponement in the event of certain market disruption events and as described under “General Terms of Notes — Postponement of a Payment Date” in the accompanying product supplement no. 4a-I
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CUSIP / ISIN:
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48127T384 / US48127T3840
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Listing:
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The PLUS will not be listed on any securities exchange.
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Agent:
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J.P. Morgan Securities LLC (“JPMS”)
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Commissions and issue price:
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Price to public(1)
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Fees and commissions
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Proceeds to issuer
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Per PLUS
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$10.00
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$0.20(2)
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$9.75
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$0.05(3)
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Total
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$4,585,000.00
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$114,625.00
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$4,470,375.00
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(1) | See “Additional Information about the PLUS — Supplemental use of proceeds and hedging” in the accompanying preliminary terms for information about the components of the price to public of the PLUS. |
(2) | JPMS, acting as agent for JPMorgan Chase & Co., will pay all of the selling commissions of $0.20 per $10 stated principal amount PLUS it receives from us to Morgan Stanley Smith Barney LLC (“Morgan Stanley Wealth Management”). See “Plan of Distribution (Conflicts of Interest)” beginning on page PS-87 of the accompanying product supplement no. 4a-I. |
(3) | Reflects a structuring fee payable to Morgan Stanley Wealth Management by the agent or its affiliates of $0.05 for each $10 stated principal amount PLUS |