GRAPHIC OMMITTED

J. P. Morgan Balanced Capital Strength Index 8.5%


OVERVIEW

The J.P. Morgan Balanced Capital Strength Index 8.5% (the "Index") is a
rules-based index designed to track the performance of a hypothetical
investment in a notional dynamic portfolio that consists of the Capital
Strength Total Return Index, the PIMCO Total Return Exchange Traded Fund and a
Cash Constituent while seeking to maintain a Target Volatility of 8.5% .  The
Index is subject to a daily deduction of 0.50% per annum index fee and a daily
deduction of a synthetic borrowing cost calculated based on a composite LIBOR
rate.

Index Features

[] The Index has three constituents:

1. The Capital Strength Total Return Index (the "Equity Constituent").

2. The PIMCO Total Return Exchange Traded Fund (the "Bond
Constituent").

3. The Cash Constituent bearing interest at a blended rate determined based on
the 3-month and 2-month LIBOR rates.

[] The Index is subject to a daily deduction of 0.50% per annum index fee and a
daily deduction of a synthetic borrowing cost calculated based on the composite
LIBOR rate.

[] On a daily basis, the Index first seeks to identify a portfolio consisting
solely of the Equity Constituent and Bond Constituents (together, the "Target
Constituents") with a historic volatility of

100.00%
[]
                           90 .00% 80 .00% 70 .00%[] 60 .00%

Hypothetical historical performance comparison: February 20, 2007 through
September 30, 2014

0

See "Notes" below. For purposes of these examples, each index was set equal to
100 at the beginning of the relevant measurement period and returns are
calculated arithmetically (not compounded).

Hypothetical historical returns and volatilities: February 20, 2007 through
September 30, 2014

GRAPHIC OMMITTED

See "Notes" below.

Hy
40 .00%

GRAPHIC OMMITTED

Hypothetical Annual Returns of the Index (2010 - 2014)
------------------------------------------------------ ------ ------ ------ ------ ------ ------ ----- ---------
     2010       Jan    Feb   Mar   Apr   May            Jun    Jul    Aug    Sep    Oct    Nov   Dec   Full Year
JPUSBLCS Index -1.61% 1.39% 3.35% 0.62% -3.93%         -0.57% 3.11%  -1.19% 5.15%  3.07%  -1.43% 2.72% 10.80%
-------------- ------ ----- ----- ----- -------------- ------ ------ ------ ------ ------ ------ ----- ---------
     2011       Jan    Feb   Mar   Apr   May            Jun    Jul    Aug    Sep    Oct    Nov   Dec   Full Year
JPUSBLCS Index 0.93%  4.19% 0.34% 3.62% 0.57%          -0.99% -1.96% -3.58% -2.69% 3.39%  -0.27% 1.97%  5.30%
-------------- ------ ----- ----- ----- -------------- ------ ------ ------ ------ ------ ------ ----- ---------
     2012       Jan    Feb   Mar   Apr   May            Jun    Jul    Aug    Sep    Oct    Nov   Dec   Full Year
JPUSBLCS Index 3.27%  1.77% 3.60% 0.17% -2.87%         2.13%  1.56%  0.89%  1.50%  -2.96% 1.04%  0.09% 10.40%
-------------- ------ ----- ----- ----- -------------- ------ ------ ------ ------ ------ ------ ----- ---------
     2013       Jan    Feb   Mar   Apr   May            Jun    Jul    Aug    Sep    Oct    Nov   Dec   Full Year
JPUSBLCS Index 3.82%  2.82% 3.61% 2.06% 0.97%          -1.54% 2.55%  -2.76% 3.14%  4.06%  2.87%  1.04% 24.85%
-------------- ------ ----- ----- ----- -------------- ------ ------ ------ ------ ------ ------ ----- ---------
     2014       Jan    Feb   Mar   Apr   May            Jun    Jul    Aug    Sep    Oct    Nov   Dec    YTD
JPUSBLCS Index -3.02% 2.62% 0.92% 0.15% 1.89%          0.37%  -0.53% 3.73%  -1.02%                      5.07%

Notes: Source: J.P. Morgan and Bloomberg. As of 9/30/2014. The Index is launched
as of April 30, 2014. Therefore, the performance depicted is hypothetical
performance based on back-tested data. PAST PERFORMANCE AND BACK-TESTED
PERFOMANCE ARE NOT INDICATIVE OF FUTURE RESULTS. No guarantee can be given that
the Index will outperform the SandP 500([R]) Total Return Index or the Barclays
US Aggregate Bond Index in the future.  The "SandP500 Index (Excess Return)" and
"Barclays US Aggregate Bond Index (Excess Return)" represent hypothetical
indices constructed from the total returns of the SandP 500 Index and Barclays US
Aggregate Bond Index, respectively, with the returns of the Cash Constituent
deducted.

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The Capital Strength TR Index

[] The Capital Strength TR Index aims to provide exposure to well capitalized
companies with strong market positions.

[] The Capital Strength TR Index is an equal-dollar weighted index and is
composed of 50 U.S. securities selected objectively based on cash on hand, debt
ratios and volatility that meet the following criteria: [] be a member of
NASDAQ US Benchmark Index (NQUSB); [] have a minimum three-month average daily
dollar trading volume of $5 million; [] must be in the top 500 securities by
float adjusted market capitalization after meeting the above criteria; [] have
at least $1 billion in cash or short term investments; [] have a long-term debt
to market capitalization ratio that is less than 30%; [] have a return on
equity that is greater than 15%; [] may not be issued by an issuer currently in
bankruptcy proceedings; and [] may not have entered into a definitive agreement
or other arrangement which would likely result in the security no longer being
eligible for inclusion in the Capital Strength TR Index.

The PIMCO Total Return Exchange Traded Fund

[] An actively managed fund that does not seek to track the performance of an
index [] Invests primarily in investment-grade debt securities

Selected Risks

[] JPMS, the index calculation agent, may adjust the Index in a way that
affects its level, and JPMS has no obligation to consider your interests.

[] The Index may not be successful, outperform any alternative strategy that
might be employed in respect of the Target Constituents or achieve its target
volatility. [] The level of the Index will include the deduction of a fee and a
borrowing cost.

[] The daily adjustment of the exposures of the Index to its Target
Constituents will vary, and may be partially uninvested in its Target
Constituents [] By reducing its exposure to its Equity Constituent, the Index
may significantly underperform its Equity Constituent.

[] The exposure of the Index to its Bond Constituent may be greater, perhaps
significantly greater, than its exposure to its Equity Constituent. [] The
Index may have significant exposure to its Cash Constituent.

[] The returns of the Target Constituents may offset each other or may become
correlated in decline.

[] The Index is subject to significant risks associated with fixed-income
securities, including interest rate-related risks and credit risk. [] The Index
is subject to the negative impact of an interest deduction.

[] The Index comprises notional assets and liabilities.

[] The Index and its Target Constituents each have a limited operating history
and may perform in unanticipated ways. [] The Index is subject to market risks.

[] The investment strategy used to construct the Index involves daily
adjustments to its synthetic exposure to its Target Constituents. [] The
Capital Strength TR Index is subject to the risk relating to its selection
methodology.

[] The PIMCO Total Return Exchange Traded Fund is an actively managed fund and
is subject to different risks than passively managed funds.

Disclaimer

This material has been prepared solely for informational purposes. Nothing in
this material or any other communications related thereto should be deemed to
or be construed as creating a "fiduciary relationship".  During the course of
normal business, JPMorgan Chase and Co. and its affiliates ("J.P. Morgan") may
enter into or promote, offer or sell transactions or investments linked to the
Index, or any of the fixed income securities referenced in the Index. J.P.
Morgan will not have any duty to consider the circumstances of any person when
participating in such transactions or to conduct themselves in a manner that is
favorable to anyone with exposure to the Index. Persons interested in the Index
should refer to the official Index Rules, when available, for a complete
description of the rules and methodology for the Index. Opinions expressed
herein may differ from the opinions expressed by other areas of J.P. Morgan,
including research. The simulated data presented herein was constructed using
certain procedures that may be different from the procedures used to calculate
the closing levels of the Index, and on the basis of certain assumptions that
may not hold in future periods. The differences in procedures used in producing
simulated data from those used to calculate the closing levels of the Index
could produce differences in returns in terms of both direction and amount.
Hypothetical and historical performance results are neither indicative nor a
guarantee of future returns.  Actual results will vary, potentially materially,
from the hypothetical and historical performance described herein. There is no
guarantee that the Index will outperform any alternative investment strategy,
including the SandP 500([R]) Index or the Barclays US Aggregate Bond Index. Past
performance is not indicative of future results. No one may reproduce or
disseminate the information contained in this document without the prior
written consent of J.P. Morgan. Additional information is available upon
request. Clients should contact their J.P. Morgan representative in, and
execute transactions through, their home jurisdiction unless governing law
permits otherwise.

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including
a prospectus) with the SEC for any offering 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
EDGAR on the SEC Web site 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 and the prospectus supplement as well as any product
supplement and term sheet if you so request by calling toll-free
1-866-535-9248.

Past performance, and especially hypothetical back-tested performance, is not
indicative of future results. Actual performance may vary significantly from
past performance or any hypothetical back-tested performance.  This type of
information has inherent limitations and you should carefully consider these
limitations before placing reliance on such information.

 Copyright 2014 JPMorgan Chase and Co. All rights reserved. The presentation was
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as early unwinds could result in lower than anticipated returns. This
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