Registration Statement
No. 333-199966
Dated August 28,
2015
Rule 433
JPMorgan Chase & Co.
Structured
Investments
Capped Return Enhanced Notes Linked to the
S&P 500® Index due December 8, 2016 |
● The notes are designed for investors who seek a return of at least 3 times any
appreciation of the S&P 500® Index up to a maximum return that will not be less than 17.60%
at maturity. |
● Investors should be willing to forgo interest and dividend payments and be willing
to lose some or all of their principal. |
● The notes are unsecured and unsubordinated obligations of JPMorgan Chase &
Co. Any payment on the notes is subject to the credit risk of JPMorgan Chase & Co. |
● Minimum denominations of $1,000 and integral multiples thereof |
● The notes are expected to price on or about September
3, 2015 and are expected to settle on or about September
9, 2015. |
● CUSIP: 48125UU91 |
Investing in the notes involves a number of risks.
See “Risk Factors” beginning on page PS-8 of the accompanying product supplement no. 4a-I, “Risk Factors”
beginning on page US-2 of the accompanying underlying supplement no. 1a-I and “Selected Risk Considerations” beginning
on page TS-4 of this term sheet.
Neither the Securities and Exchange Commission (the
“SEC”) nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or
the adequacy of this term sheet or the accompanying product supplement, underlying supplement, prospectus supplement and prospectus.
Any representation to the contrary is a criminal offense.
|
Price to Public (1) |
Fees and Commissions (2) |
Proceeds to Issuer |
Per note |
$1,000 |
— |
$ |
Total |
$ |
— |
$ |
(1). See “Supplemental Use of Proceeds”
in this term sheet for information about the components of the price to public of the notes.
(2) All sales of the notes will be made to certain
fee-based advisory accounts for which an affiliated or unaffiliated broker-dealer is an investment adviser. These broker-dealers
will forgo any commissions related to these sales. See “Plan of Distribution (Conflicts of Interest)” beginning on
page PS-87 of the accompanying product supplement no. 4a-I. |
If the notes priced today, the estimated value of
the notes as determined by JPMS would be approximately $988.90 per $1,000 principal amount note. JPMS’s estimated value of
the notes, when the terms of the notes are set, will be provided by JPMS in the pricing supplement and will not be less than $970.00
per $1,000 principal amount note. See “JPMS’s Estimated Value of the Notes” in this term sheet for additional
information.
The notes are not bank deposits, are not insured
by the Federal Deposit Insurance Corporation or any other governmental agency and are not obligations of, or guaranteed by, a bank.
Term sheet to product supplement no. 4a-I dated
November 7, 2014, underlying supplement no. 1a-I dated November 7, 2014
and the prospectus and prospectus supplement, each dated November 7, 2014
Key
Terms
Index: The
S&P 500® Index
(Bloomberg ticker: SPX)
Maximum Return: Up
to 17.60% (corresponding to a maximum payment at maturity of $1,176.00 per $1,000 principal amount note) (to be provided in the
pricing supplement)
Upside Leverage Factor: At
least 3
Pricing Date: On
or about September 3, 2015
Original Issue Date (Settlement Date):
On or about September 9, 2015
Observation Date*: December
5, 2016
Maturity Date*: December
8, 2016
* Subject
to postponement in the event of a market disruption event and as described under “General Terms of Notes — Postponement
of a Determination Date — Notes Linked to a Single Underlying” and “General Terms of Notes — Postponement
of a Payment Date” in the accompanying product supplement no. 4a-I |
|
Index Return:
(Final Value – Initial Value)
Initial Value
Initial Value: The
closing level of the Index on the Pricing Date
Final Value: The
closing level of the Index on the Observation Date
Payment at Maturity: If
the Final Value is greater than the Initial Value, your payment at maturity per $1,000 principal amount note calculated as follows:
$1,000
+ [$1,000 × (Index Return × Upside Leverage Factor)],
subject to the Maximum Return
If the
Final Value is equal to the Initial Value, you will receive the principal amount of your notes at maturity.
If the
Final Value is less than the Initial Value, your payment at maturity per $1,000 principal amount note will be calculated as follows:
$1,000
+ [$1,000 × (Index Return)]
If the Final Value is less
than the Initial Value, you will lose some or all of your principal amount at maturity. |
|
|
TS-1 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
Hypothetical
Payout Profile
The
following table and graph illustrate the hypothetical total return at maturity on the notes linked to a hypothetical Index. The
“total return” as used in this term sheet is the number, expressed as a percentage, that results from comparing the
payment at maturity per $1,000 principal amount note to $1,000. The hypothetical total returns set forth below assume the following:
| ● | a
Maximum Return of 17.60% |
| ● | an
Upside Leverage Factor of 3. |
The
hypothetical Initial Value of 100 has been chosen for illustrative purposes only and may not represent a likely actual Initial
Value. The actual Initial Value will be based on the closing level of the Index on the Pricing Date and will be provided in the
pricing supplement. For historical data regarding the actual closing level of the Index, please see the historical information
set forth under “The Index” in this term sheet.
Each
hypothetical total return or hypothetical payment at maturity set forth below is for illustrative purposes only and may not be
the actual total return or payment at maturity applicable to a purchaser of the notes. The numbers appearing in the following
table and graph have been rounded for ease of analysis.
Final Value |
Index Return |
Total Return |
Payment at Maturity |
180.0000 |
80.0000% |
17.60% |
$1,176.00 |
170.0000 |
70.0000% |
17.60% |
$1,176.00 |
160.0000 |
60.0000% |
17.60% |
$1,176.00 |
150.0000 |
50.0000% |
17.60% |
$1,176.00 |
140.0000 |
40.0000% |
17.60% |
$1,176.00 |
130.0000 |
30.0000% |
17.60% |
$1,176.00 |
120.0000 |
20.0000% |
17.60% |
$1,176.00 |
110.0000 |
10.0000% |
17.60% |
$1,176.00 |
105.8667 |
5.8667% |
17.60% |
$1,176.00 |
105.0000 |
5.0000% |
15.00% |
$1,150.00 |
101.0000 |
1.0000% |
3.00% |
$1,030.00 |
100.0000 |
0.0000% |
0.00% |
$1,000.00 |
95.0000 |
-5.0000% |
-5.00% |
$950.00 |
90.0000 |
-10.0000% |
-10.00% |
$900.00 |
85.0000 |
-15.0000% |
-15.00% |
$850.00 |
80.0000 |
-20.0000% |
-20.00% |
$800.00 |
70.0000 |
-30.0000% |
-30.00% |
$700.00 |
60.0000 |
-40.0000% |
-40.00% |
$600.00 |
50.0000 |
-50.0000% |
-50.00% |
$500.00 |
40.0000 |
-60.0000% |
-60.00% |
$400.00 |
30.0000 |
-70.0000% |
-70.00% |
$300.00 |
20.0000 |
-80.0000% |
-80.00% |
$200.00 |
10.0000 |
-90.0000% |
-90.00% |
$100.00 |
0.0000 |
-100.0000% |
-100.00% |
$0.00 |
|
|
TS-2 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
How
the Notes Work
Upside
Scenario:
If
the Final Value is greater than the Initial Value, investors will receive at maturity the $1,000 principal amount plus a return
equal to three times the Index Return, up to the Maximum Return, which will not be less than 17.60%
at maturity. Assuming a hypothetical Maximum Return of 17.60%, an investor will realize the maximum payment at maturity
at a Final Value of 105.8667%
of the Initial Value.
| ● | If the closing level of the Index increases 5.00%, investors
will receive at maturity a 15.00% return, or $1,150.00 per $1,000 principal amount note. |
| ● | Assuming a hypothetical Maximum Return of 17.60%, if the
closing level of the Index increases 40.00%, investors will receive at maturity a return equal to the Maximum Return of 17.60%,
or $1,176.00 per $1,000 principal amount note, which is the maximum payment at maturity. |
Par
Scenario:
If
the Final Value is equal to the Initial Value, investors will receive at maturity the principal amount of their notes.
Downside
Scenario:
If
the Final Value is less than the Initial Value, investors will lose 1% of the principal amount of their notes for every 1% that
the Final Value is less than the Initial Value.
| ● | For example, if the closing level of the Index declines 50.00%,
investors will lose 50.00% of their principal amount and receive only $500.00 per $1,000 principal amount note at maturity. |
The
hypothetical returns and hypothetical payments on the notes shown above apply only if you hold the notes for their entire term.
These hypotheticals do not reflect the 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 payments shown above would likely be lower.
|
|
TS-3 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
Selected
Risk Considerations
An
investment in the notes involves significant risks. These risks are explained in more detail in the “Risk Factors”
sections of the accompanying product supplement and underlying supplement.
| ● | YOUR INVESTMENT IN THE NOTES MAY RESULT IN A LOSS
— |
The
notes do not guarantee any return of principal. If the Final Value is less than the Initial Value by more than 0%,
you will lose 1% of the principal amount of your notes for every 1% that the Final Value is less than the Initial Value by more
than 0%. Accordingly, you may
lose up to 100% of your principal
amount at maturity.
| ● | YOUR MAXIMUM GAIN ON THE NOTES IS LIMITED TO THE MAXIMUM
RETURN, |
regardless
of the appreciation in the Index, which may be significant.
| ● | CREDIT RISK OF JPMORGAN CHASE & CO. — |
Investors
are dependent on JPMorgan Chase & Co.’s ability to pay all amounts due on the notes. Any actual or potential change
in our creditworthiness or credit spreads, as determined by the market for taking our credit risk, is likely to adversely affect
the value of the notes. If we were to default on our payment obligations, you may not receive any amounts owed to you under the
notes and you could lose your entire investment.
We
and our affiliates play a variety of roles in connection with the notes. In performing these duties, our economic interests are
potentially adverse to your interests as an investor in the notes. It is possible that hedging or trading activities of ours or
our affiliates in connection with the notes could result in substantial returns for us or our affiliates while the value of the
notes declines. Please refer to “Risk Factors — Risks Relating to Conflicts of Interest” in the accompanying
product supplement.
| ● | THE NOTES DO NOT PAY INTEREST. |
| ● | YOU WILL NOT RECEIVE DIVIDENDS ON THE SECURITIES INCLUDED
IN THE INDEX OR HAVE ANY RIGHTS WITH RESPECT TO THOSE SECURITIES. |
| ● | WE ARE CURRENTLY ONE OF THE COMPANIES THAT MAKE UP THE
INDEX, |
but
we will not have any obligation to consider your interests in taking any corporate action that might affect the level of the Index.
The
notes will not be listed on any securities exchange. Accordingly, the price at which you may be able to trade your notes is likely
to depend on the price, if any, at which JPMS is willing to buy the notes. You may not be able to sell your notes. The notes are
not designed to be short-term trading instruments. Accordingly, you should be able and willing to hold your notes to maturity.
| ● | THE FINAL TERMS AND VALUATION OF THE NOTES WILL BE PROVIDED
IN THE PRICING SUPPLEMENT — |
You
should consider your potential investment in the notes based on the minimums for JPMS’s estimated value and the Maximum
Return.
| ● | JPMS’S ESTIMATED VALUE OF THE NOTES WILL BE LOWER
THAN THE ORIGINAL ISSUE PRICE (PRICE TO PUBLIC) OF THE NOTES — |
JPMS’s
estimated value is only an estimate using several factors. The original issue price of the notes will exceed JPMS’s estimated
value because costs associated with structuring and hedging the notes are included in the original issue price of the notes. These
costs include the projected profits, if any, that our affiliates expect to realize for assuming risks inherent in hedging our
obligations under the notes and the estimated cost of hedging our obligations under the notes. See “JPMS’s Estimated
Value of the Notes” in this term sheet.
| ● | JPMS'S ESTIMATED VALUE DOES NOT REPRESENT FUTURE VALUES
OF THE NOTES AND MAY DIFFER FROM OTHERS' ESTIMATES — |
See
“JPMS’s Estimated Value of the Notes” in this term sheet.
|
|
TS-4 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
| ● | JPMS’S ESTIMATED VALUE IS NOT DETERMINED BY REFERENCE
TO CREDIT SPREADS FOR OUR CONVENTIONAL FIXED-RATE DEBT — |
The
internal funding rate used in the determination of JPMS’s estimated value generally represents a discount from the credit
spreads for our conventional fixed-rate debt. The discount is based on, among other things, our view of the funding value of the
notes as well as the higher issuance, operational and ongoing liability management costs of the notes in comparison to those costs
for our conventional fixed-rate debt. If JPMS were to use the interest rate implied by our conventional fixed-rate credit spreads,
we would expect the economic terms of the notes to be more favorable to you. Consequently, our use of an internal funding rate
would have an adverse effect on the terms of the notes and any secondary market prices of the notes. See “JPMS’s Estimated
Value of the Notes” in this term sheet.
| ● | THE VALUE OF THE NOTES AS PUBLISHED BY JPMS (AND WHICH
MAY BE REFLECTED ON CUSTOMER ACCOUNT STATEMENTS) MAY BE HIGHER THAN JPMS’S THEN-CURRENT ESTIMATED VALUE OF THE NOTES FOR
A LIMITED TIME PERIOD — |
We
generally expect that some of the costs included in the original issue price of the notes will be partially paid back to you in
connection with any repurchases of your notes by JPMS in an amount that will decline to zero over an initial predetermined period.
See “Secondary Market Prices of the Notes” in this term sheet for additional information relating to this initial
period. Accordingly, the estimated value of your notes during this initial period may be lower than the value of the notes as
published by JPMS (and which may be shown on your customer account statements).
| ● | SECONDARY MARKET PRICES OF THE NOTES WILL LIKELY BE LOWER
THAN THE ORIGINAL ISSUE PRICE OF THE NOTES — |
Any
secondary market prices of the notes will likely be lower than the original issue price of the notes because, among other things,
secondary market prices take into account our secondary market credit spreads for structured debt issuances and, also, because
secondary market prices may exclude projected hedging profits, if any, and estimated hedging costs that are included in the original
issue price of the notes. As a result, the price, if any, at which JPMS will be willing to buy the notes from you in secondary
market transactions, if at all, is likely to be lower than the original issue price. Any sale by you prior to the Maturity Date
could result in a substantial loss to you.
| ● | SECONDARY MARKET PRICES OF THE NOTES WILL BE IMPACTED
BY MANY ECONOMIC AND MARKET FACTORS — |
The
secondary market price of the notes during their term will be impacted by a number of economic and market factors, which may either
offset or magnify each other, aside from the projected hedging profits, if any, estimated hedging costs and the level of the Index.
Additionally, independent pricing vendors and/or third party broker-dealers may publish a price for the notes, which may also
be reflected on customer account statements. This price may be different (higher or lower) than the price of the notes, if any,
at which JPMS may be willing to purchase your notes in the secondary market. See “Risk Factors — Risks Relating to
the Estimated Value of Secondary Market Prices of the Notes — Secondary market prices of the notes will be impacted by many
economic and market factors” in the accompanying product supplement.
|
|
TS-5 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
The
Index
The
Index consists of stocks of 500 companies selected to provide a performance benchmark for the U.S. equity markets. For additional
information about the S&P 500® Index ,see "Equity Index Descriptions — The S&P 500®
Index" in the accompanying underlying supplement.
Historical
Information
The
following graph sets forth the historical performance of the Index based on the weekly historical closing levels of the Index
from January 8, 2010 through August 21, 2015. The closing level of the Index on August 27, 2015 was 1,940.51. We obtained the
closing levels below from the Bloomberg Professional® service (“Bloomberg”), without independent verification.
The
historical closing levels of the Index should not be taken as an indication of future performance, and no assurance can be given
as to the closing level of the Index on the Pricing Date or the Observation Date. We cannot give you assurance that the performance
of the Index will result in the return of any of your principal amount.
|
Historical Performance
of S&P 500® Index
Source: Bloomberg
|
|
Tax
Treatment
You
should review carefully the section entitled “Material U.S. Federal Income Tax Consequences” in the accompanying product
supplement no. 4a-I. The following discussion, when read in combination with that section, constitutes the full opinion of our
special tax counsel, Davis Polk & Wardwell LLP, regarding the material U.S. federal income tax consequences of owning and
disposing of notes.
Based
on current market conditions, in the opinion of our special tax counsel it is reasonable to treat the notes as “open transactions”
that are not debt instruments for U.S. federal income tax purposes, as more fully described in “Material U.S. Federal Income
Tax Consequences—Tax Consequences to U.S. Holders—Notes Treated as Open Transactions That Are Not Debt Instruments”
in the accompanying product supplement no. 4a-I. Assuming this treatment is respected, the gain or loss on your notes should be
treated as long-term capital gain or loss if you hold your notes for more than a year, whether or not you are an initial purchaser
of notes at the issue price. However, the IRS or a court may not respect this treatment, in which case the timing and character
of any income or loss on the notes could be materially and adversely affected. In addition, in 2007 Treasury and the IRS released
a notice requesting comments on the U.S. federal income tax treatment of “prepaid forward contracts” and similar instruments.
The notice focuses in particular on whether to require investors in these instruments to accrue income over the term of their
investment. It also asks for comments on a number of related topics, including the character of income or loss with respect to
these instruments; the relevance of factors such as the nature of the underlying property to which the instruments are linked;
the degree, if any, to which income (including any mandated accruals) realized by non-U.S. investors should be subject to withholding
tax; and whether these instruments are or
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TS-6 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
should be subject to the “constructive ownership” regime, which very generally
can operate to recharacterize certain long-term capital gain as ordinary income and impose a notional interest charge. While the
notice requests comments on appropriate transition rules and effective dates, any Treasury regulations or other guidance promulgated
after consideration of these issues could materially and adversely affect the tax consequences of an investment in the notes,
possibly with retroactive effect. You should consult your tax adviser regarding the U.S. federal income tax consequences of an
investment in the notes, including possible alternative treatments and the issues presented by this notice.
Withholding
under legislation commonly referred to as “FATCA” may apply to amounts treated as interest paid with respect to the
notes, if they are recharacterized as debt instruments. You should consult your tax adviser regarding the potential application
of FATCA to the notes.
JPMS’s
Estimated Value of the Notes
JPMS’s
estimated value of the notes set forth on the cover of this term sheet is equal to the sum of the values of the following hypothetical
components: (1) a fixed-income debt component with the same maturity as the notes, valued using our internal funding rate for
structured debt described below, and (2) the derivative or derivatives underlying the economic terms of the notes. JPMS’s
estimated value does not represent a minimum price at which JPMS would be willing to buy your notes in any secondary market (if
any exists) at any time. The internal funding rate used in the determination of JPMS’s estimated value generally represents
a discount from the credit spreads for our conventional fixed-rate debt. For additional information, see “Selected Risk
Considerations — JPMS’s Estimated Value Is Not Determined by Reference to Credit Spreads for Our Conventional Fixed-Rate
Debt.”
The
value of the derivative or derivatives underlying the economic terms of the notes is derived from JPMS’s internal pricing
models. These models are dependent on inputs such as the traded market prices of comparable derivative instruments and on various
other inputs, some of which are market-observable, and which can include volatility, dividend rates, interest rates and other
factors, as well as assumptions about future market events and/or environments. Accordingly, JPMS’s estimated value of the
notes is determined when the terms of the notes are set based on market conditions and other relevant factors and assumptions
existing at that time.
JPMS’s
estimated value does not represent future values of the notes and may differ from others’ estimates. Different pricing models
and assumptions could provide valuations for notes that are greater than or less than JPMS’s estimated value. In addition,
market conditions and other relevant factors in the future may change, and any assumptions may prove to be incorrect. On future
dates, the value of the notes could change significantly based on, among other things, changes in market conditions, our creditworthiness,
interest rate movements and other relevant factors, which may impact the price, if any, at which JPMS would be willing to buy
notes from you in secondary market transactions.
JPMS’s
estimated value of the notes will be lower than the original issue price of the notes because costs associated with structuring
and hedging the notes are included in the original issue price of the notes. These costs include the projected profits, if any,
that our affiliates expect to realize for assuming risks inherent in hedging our obligations under the notes and the estimated
cost of hedging our obligations under the notes. Because hedging our obligations entails risk and may be influenced by market
forces beyond our control, this hedging may result in a profit that is more or less than expected, or it may result in a loss.
We or one of our affiliates will retain any remaining hedging profits, if any. See “Selected Risk Considerations —
JPMS’s Estimated Value of the Notes Will Be Lower Than the Original Issue Price (Price to Public) of the Notes” in
this term sheet.
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|
TS-7 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
Secondary
Market Prices of the Notes
For
information about factors that will impact any secondary market prices of the notes, see “Risk Factors — Risks Relating
to the Estimated Value and Secondary Market Prices of the Notes — Secondary market prices of the notes will be impacted
by many economic and market factors” in the accompanying product supplement. In addition, we generally expect that some
of the costs included in the original issue price of the notes will be partially paid back to you in connection with any repurchases
of your notes by JPMS in an amount that will decline to zero over an initial predetermined period. These costs can include projected
hedging profits, if any, and, in some circumstances, estimated hedging costs and our secondary market credit spreads for structured
debt issuances. This initial predetermined time period is intended to be the shorter of six months and one-half of the stated
term of the notes. The length of any such initial period reflects the structure of the notes, whether our affiliates expect to
earn a profit in connection with our hedging activities, the estimated costs of hedging the notes and when these costs are incurred,
as determined by JPMS. See “Selected Risk Considerations — The Value of the Notes as Published by JPMS (and Which
May Be Reflected on Customer Account Statements) May Be Higher Than JPMS’s Then-Current Estimated Value of the Notes for
a Limited Time Period.”
Supplemental
Use of Proceeds
The
notes are offered to meet investor demand for products that reflect the risk-return profile and market exposure provided by the
notes. See “Hypothetical Payout Profile” and “How the Notes Work” in this term sheet for an illustration
of the risk-return profile of the notes and “The Index” in this term sheet for a description of the market exposure
provided by the notes.
The
original issue price of the notes is equal to JPMS’s estimated value of the notes plus (minus) the projected profits (losses)
that our affiliates expect to realize for assuming risks inherent in hedging our obligations under the notes, plus the estimated
cost of hedging our obligations under the notes.
Additional
Terms Specific to the Notes
JPMorgan
Chase & Co. has filed a registration statement (including a prospectus) with the SEC for the offering to which this term sheet
relates. Before you invest, you should read the prospectus in that registration statement and the other documents relating to
this offering that JPMorgan Chase & Co. has filed with the SEC for more complete information about JPMorgan Chase & Co.
and this offering. You may get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively,
JPMorgan Chase & Co., any agent or any dealer participating in this offering will arrange to send you the prospectus, the
prospectus supplement, product supplement no. 4a-I, underlying supplement no. 1a-I and this term sheet if you so request by calling
toll-free 866-535-9248.
You
may revoke your offer to purchase the notes at any time prior to the time at which we accept such offer by notifying the applicable
agent. We reserve the right to change the terms of, or reject any offer to purchase, the notes prior to their issuance. In the
event of any changes to the terms of the notes, we will notify you and you will be asked to accept such changes in connection
with your purchase. You may also choose to reject such changes, in which case we may reject your offer to purchase.
You
should read this term sheet together with the prospectus, as supplemented by the prospectus supplement, each dated November 7,
2014, relating to our Series E medium-term notes of which these notes are a part, and the more detailed information contained
in product supplement no. 4a-I dated November 7, 2014 and underlying supplement no. 1a-I dated November 7, 2014. This term sheet,
together with the documents listed below, contains the terms of the notes and supersedes all other prior or contemporaneous oral
statements as well as any other written materials including preliminary or indicative pricing terms, correspondence, trade ideas,
structures for implementation, sample structures, fact sheets, brochures or other educational materials of ours. You should carefully
consider, among other things, the matters set forth in “Risk Factors” in the accompanying product supplement no. 4a-I
and “Risk Factors” in the accompanying underlying supplement no. 1a-I, as the notes involve risks not associated with
conventional debt securities. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest
in the notes.
You
may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, by reviewing our filings
for the relevant date on the SEC website):
Our
Central Index Key, or CIK, on the SEC website is 19617. As used in this term sheet, “we,” “us” and “our”
refer to JPMorgan Chase & Co.
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|
TS-8 | Structured Investments
Capped Return Enhanced Notes Linked to the S&P
500® Index |
|
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