This slide is not for distribution in isolation and must be viewed in
conjunction with the accompanying term sheet, product supplement, prospectus
supplement and prospectus, which further describe the terms, conditions and
risks associated with the notes. In the event of any inconsistency between the
information presented herein and any such term sheet, such term sheet shall
govern. The information contained in this document is for informational
purposes only.

JPMorgan Contingent Buffered Digital Notes Linked to a WTI Crude Oil Futures
due June 9, 2015
The notes are designed for investors who seek a fixed return of 10.00% at
maturity if the Ending Contract Price of WTI Crude Oil is not less than the
Initial Contract Price by no more than at least 18.75% on the Observation Date.
Investors should be willing to forgo interest payments and, if the Ending
Contract Price is less than the Initial Contract Price by no more than at least
18.75% on the Observation Date, be willing to lose some or all of their
principal. If the Ending Contract Price is equal to or less than the Initial
Contract Price by no more than at least 18.75% on the Observation Date,
investors will receive their initial investment back at maturity, subject to
the credit risk of JPMorgan Chase and Co.

Trade Details/Characteristics


Contract Price                 On any relevant day, the official settlement price per barrel on the NYMEX of the
                               first nearby month futures contract for WTI crude oil, stated in U.S. dollars, as
                               made public by the NYMEX (Bloomberg ticker "CL1" Comdty), provided that if
                               such date falls on the last trading day of such futures contract, then the second
                               nearby futures contract (Bloomberg ticker "CL2" Comdty) on that day
Currency                       USD
Digital Return                 10.00%
Contingent Buffer Percentage   At least 18.75% (to be determined on the pricing date)
Maximum Potential Loss         100.00%
Contract Return                (Ending Contract Price - Initial Contract Price) / Initial Contract Price
Initial Contract Price         The Contract Price on the pricing date
Ending Contract Price          The arithmetic average of the Contract Prices on each of the five Ending
                               Averaging Dates
Ending Averaging Dates         May 29, 2015; June 1, 2015; June 2, 2015; June 3, 2015; June 4, 2015
Maturity Date                  June 9, 2015
Maturity                       Approximately 14 months
Settlement                     Cash
Payment At Maturity per $1,000 If the Ending Contract Price is greater than or equal to the Initial Contract Price
principal amount note          or is less than the Initial Contract Price by up to the Contingent Buffer
                               Percentage:
                               $1,000 + ($1,000 x Digital Return)
                               If the Ending Contract Price is less than the Initial Contract Price by more than
                               the Contingent Buffer Percentage:
                               $1,000 + ($1,000 x Commodity Return)
                               Your investment may result in the loss of all of your principal at maturity.
CUSIP                          48126N5U7
Preliminary Term Sheet         http://www.sec.gov/Archives/edgar/data/19617/000095010314002282/dp45241_f
                               -----------------------------------------------------------------------------------
                               wp-ficc32.htm
============================== ===================================================================================

Hypothetical Payout For Contingent Buffered Digital Notes linked to a WTI Crude
Oil Futures at Maturity (assuming $1,000 Initial Investment)

The graph above demonstrates the hypothetical total return on the notes at
maturity for a subset of Contract Returns detailed in the table below. Your
investment may result in a loss of all of your principal at maturity.

Selected Risk Considerations

The risks identified below are not exhaustive. Please see the term sheet
hyperlinked above for more information. [] Your investment in the notes may
result in a loss of some or all of your initial investment.
[] Your maximum potential gain on the notes will be limited to the Digital
Return.
[] Any payment on the notes is subject to the credit risk of JPMorgan Chase and
Co. , which we refer to as JPMC.  Therefore, the value of the notes prior to
maturity are subject to changes in the market's view of JPMC's
creditworthiness.
[] The benefit provided by the Contingent Buffer Amount may terminate on the
final review date.
[] Investments related to the price of WTI Crude Oil Futures may be more
volatile than traditional securities investments. [] Single commodity prices
tend to be more volatile than, and may not correlate with, the prices of
commodities generally. [] The contract price of the commodity futures contract
is determined by reference to the official settlement price of WTI Crude Oil
Futures contracts as determined by the NYMEX, and there are certain risks
relating to the Contract Price of the commodity futures contract being
determined by the NYMEX.
[] JPMS' estimated value does not represent future values and may differ from
others' estimates.
[] The value of the notes which may be reflected in customer account statements
may be higher than JPMS' then-current estimated value for a limited time
period.
[] Lack of liquidity: JPMorgan Securities, LLC, acting as agent for JPMC (and
who we refer to as JPMS), intends to offer to purchase the notes in the
secondary market but is not required to do so.  The price, if any, at which JPM
will be willing to purchase notes from you in the secondary market, if at all,
may result in a significant loss of your principal.

                                      Payment at Maturity per $1,000 Total Return On
Ending Contract Price Contract Return       principal amount             Notes
===================== =============== ============================== ===============
      130.00              30.00%               $1,100.00                 10.00%
      120.00              20.00%               $1,100.00                 10.00%
      115.00              15.00%               $1,100.00                 10.00%
      110.00              10.00%               $1,100.00                 10.00%
      105.00              5.00%                $1,100.00                 10.00%
      102.50              2.50%                $1,100.00                 10.00%
===================== =============== ============================== ===============
      100.00              0.00%                $1,100.00                 10.00%
===================== =============== ============================== ===============
      100.00              -5.00%               $1,100.00                 10.00%
       90.00             -10.00%               $1,100.00                 10.00%
       85.00             -15.00%               $1,100.00                 10.00%
       81.25             -18.75%               $1,100.00                 10.00%
       81.24             -18.76%                $812.40                 -18.76%
       80.00             -20.00%                $800.00                 -20.00%
       70.00             -30.00%                $700.00                 -30.00%
       50.00             -50.00%                $500.00                 -50.00%
       0.00              -100.00%                $0.00                  -100.00%
===================== =============== ============================== ===============


Filed pursuant to Rule 433 Registration Statement No: 333-177923 Dated: April
1, 2014

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including
a prospectus) with the Securities and Exchange Commission (the "SEC") for any
offerings to which these materials relate. Before you invest, you should read
the prospectus in that registration statement and the other documents relating
to this offering that JPMorgan Chase and Co. has filed with the SEC for more
complete information about JPMorgan Chase and Co. and this offering. You may get
these documents without cost by visiting the SEC website at www.sec.gov.
Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in
the this offering will arrange to send you the prospectus, the prospectus
supplement as well as any relevant product supplement and term sheet if you so
request by calling toll-free 866-535-9248.

IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not
provide tax advice. Accordingly, any discussion of U.S. tax matters contained
herein (including any attachments) is not intended or written to be used, and
cannot be used, in connection with the promotion, marketing or recommendation
by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address
herein or for the purpose of avoiding U.S. tax-related penalties.

Investment suitability must be determined individually for each investor, and
the financial instruments described herein may not be suitable for all
investors. The products described herein should generally be held to maturity
as early unwinds could result in lower than anticipated returns. This
information is not intended to provide and should not be relied upon as
providing accounting, legal, regulatory or tax advice. Investors should consult
with their own advisors as to these matters.

This material is not a product of J.P. Morgan Research Departments. J.P. Morgan
is the marketing name for JPMorgan Chase and Co. and its subsidiaries and
affiliates worldwide. J.P. Morgan Securities LLC is a member of FINRA, NYSE and
SIPC. Clients should contact their salespersons at, and execute transactions
through, a J.P. Morgan entity qualified in their home jurisdiction unless
governing law permits otherwise.