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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.
Review Notes linked to the SandP 500 Index, due November 16, 2017
The notes are designed for investors who seek early exit prior to maturity at a
premium if, (1) with respect to any Review Date (other than the final Review
Date), the closing level of the SandP 500 Index on that Review Date is at or
above the Call Level or, (2) with respect to the final Review Date, the Ending
Index Level is at or above the Call Level applicable to that Review Date. If
the notes are not automatically called and the Ending Index Level is less than
the Initial Index Level by more than the Contingent Buffer Amount of 10%,
investors will lose more than 10% of their principal amount at maturity and may
lose all of their principal amount at maturity. Investors in the notes should
be willing to accept this risk of loss and be willing to forgo interest and
dividend payments, in exchange for the opportunity to receive a premium payment
if the notes are automatically called. The earliest date on which an automatic
call may be initiated is November 25, 2016. The notes are unsecured and
unsubordinated obligations of JPMorgan Chase and Co. Any payment on the notes is
subject to the credit risk of JPMorgan Chase and Co.
Trade Details/Characteristics
Index: The SandP 500 Index
Automatic Call: If (1) with respect to any Review Date (other
than the final Review Date), the closing level of the Index on that Review Date
is
greater than or equal to the Call Level or, (2)
with respect to the final Review Date, the Ending Index Level is greater than
or
equal to the Call Level, the notes will be
automatically called for a cash payment per note that will be payable on the
applicable
Call Settlement Date and that will vary depending
on the applicable Review Date and call premium.
Call Level: 100% of the Initial Index Level for each 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 10.00%* x$1,000 if automatically
called on the first Review Date
[] at least 20.00%* x $1,000 if automatically
called on the second Review Date
*The actual call premiums applicable to the
first, second and final Review Dates will be provided in the pricing
supplement, and
will not be less than 10.00% and 20.00% ,
respectively.
Contingent Buffer Amount 10%
Payment at Maturity: If the notes are not automatically called and the
Ending Index Level is less than the Initial Index Level by up to 10%, you will
receive the principal amount of your notes at
maturity.
If the notes are not automatically called and the
Ending Index Level is less than the Initial Index Level by more than 10%, you
will
lose 1% of the principal amount of your notes for
every 1% that the Ending Index Level is less than the Initial Index Level.
Under these circumstances, your payment at
maturity per $1,000 principal amount note will be calculated as follows:
$1,000 + ($1,000 x Index Return)
If the notes are not automatically called and the
Ending Index Level is less than the Initial Index Level by more than 10%, you
will
lose more than 10% of your principal amount at
maturity and may lose all of your principal amount at maturity
Index Return: (Ending Index Level - Initial Index Level) /
Initial Index Level
Initial Index Level: The closing level of the Index on the Pricing
Date
Ending Index Level: The arithmetic average of the closing levels of
the Index on the Ending Averaging Dates
Ending Averaging Dates: November 07, 2017, November 08, 2017, November
09, 2017, November 10, 2017, and the final Review Date
Review Dates: November 25, 2016 (First Review Date) and
November 13, 2017 (Final Review Date)
Preliminary Term Sheet: http://www. sec.
gov/Archives/edgar/data/19617/000095010315008763/dp61095_fwp-1104. htm
Please see the term sheet hyperlinked above for additional information about the
notes, including JPMS's estimated value, which is the estimated value of the
notes when the
terms are set.
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
principal. If the Ending Index Level is less than the Initial Index Level by
more than the
Contingent Buffer Amount, you will lose more than 10% and may lose all of your
principal at maturity.
[] Any payments on the notes is subject to the credit risk of JPMorgan Chase and
Co.
[] The appreciation potential of the notes is limited to the call premium,
regardless of the appreciation of the Reference Stock, which may be
significant.
[] The benefit provided by the Contingent Buffer amount may terminate on the
Final Ending Averaging Date.
[] JPMorgan Chase and Co. and its affiliates play a variety of roles in connection
with the notes and their interests may be adverse to yours.
[] If the notes are automatically called early, there is no guarantee that you
will be able to reinvest the proceeds at a comparable return for a similar
level of risk.
[] JPMS's estimated value does not represent the future values of the notes and
may differ from others' estimates
[] The value of the notes as published by JPMS will likely be higher than JPMS's
then -current estimated value of the notes for a limited time. [] Secondary
market prices of the notes will be impacted by many economic and market
factors.
[] No interest of dividend payments or voting rights.
Hypothetical Examples of Amounts Payable upon Automatic Call or at Maturity
The above table illustrates the hypothetical simple total return (i. e. , not
compounded) on the notes that could be realized with respect to the applicable
Review Date for a range of movements in the Index as shown under the columns
[]Index Level Appreciation/Depreciation at Review Date[] and []Index Return. []
The following table assumes a hypothetical Initial Index Level of 2,000 and a
hypothetical Call Level of 2,000 (equal to 100% of the hypothetical Initial
Index Level) and reflects the Contingent Buffer Amount of 10% . The table
assumes that the call premiums used to calculate the call premium amount
applicable to the first and final Review Dates are 10.00% and 20.00%,
respectively, regardless of the appreciation of the Index, which may be
significant. The actual call premiums will be provided in the pricing
supplement and will not be less than 10.00% and 20.00%, respectively. There
will be only one payment on the notes whether called or at maturity. An entry
of []N/A[] indicates that the notes would not be called on the applicable
Review Date and no payment would be made on the applicable Call Settlement
Date. Each hypothetical return set forth below is for illustrative purposes
only and may not be the actual total return applicable to a purchaser of the
notes. The numbers appearing in the above table have been rounded for ease of
analysis.
Risk Considerations
The risks identified below are not exhaustive. Please see the term sheet
hyperlinked above for more information.
[] The averaging convention used to calculate the Ending Index Level could limit
returns.
SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a
prospectus) with 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
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, 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 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
("JPMS") 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.
Filed pursuant to Rule 433
Registration Statement No. 333 -199966
Dated: November 10, 2015
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