Free Writing Prospectus Filed Pursuant to Rule 433 Registration Statement No. 333-155535 Dated November 23, 2010

JPMorgan Double Short Treasury ETNs report The table below summarizes certain data related to the JPMorgan Double Short US Long Bond Treasury Futures ETN and the JPMorgan Double Short US 10 Year Treasury Futures ETN (the "Notes" or the "ETNs") . The column labeled "Reset Exposure Amount" will be populated if the next trading day is a Reset Date and will reflect the Reset Exposure Amount that will be in effect at the close of trading on the next trading day. Is the next trading day Number of Closing Note Current Exposure a Reset Date ("YES" or Reset Exposure Amount Product Name CUSIP Ticker Date Notes ('000s') Value Amount "NO")? for next Reset Date - ------------------------------------------------------------------------------------------------------------------------------------------------------- JPMorgan Double Short US Long Bond Treasury Futures ETN due September 30, 2025 46634X864 DSTJ 11/23/2010 200 $53.986 107.12 NO - ------------------------------------------------------------------------------------------------------------------------------------------------------- JPMorgan Double Short US 10 Year Treasury Futures ETN due September 30, 2025 46634X823 DSXJ 11/23/2010 100 $50.793 99.16 NO - ------------------------------------------------------------------------------------------------------------------------------------------------------- The ETNs are senior unsecured obligations of JPMorganChase and Co. and accordingly, are exposed to the credit risk of JPMorgan Chase and Co. Definitions: "Number of Notes" means the total number of Notes, shown in thousands, that have been issued, including those held by JPMorgan Chase and Co or one of its affiliates. "Closing Note Value" means the closing value of the ETNs as of the date of this report, as more fully described in the relevant Pricing Supplement. "Current Exposure Amount" means the current dollar exposure of the ETNs to the Index, provided as a positive number, as of the date of this report, as more fully described in the relevant Pricing Supplement. "Reset Exposure Amount" means the new dollar exposure, provided as a positive number, the ETN will have to the Index at the close of a Reset Date as more fully described in the relevant Pricing Supplement. The column labeled "Reset Exposure Amount" will be populated if the next trading day is a Reset Date and will reflect the Reset Exposure Amount that will be in effect at the close of trading on the next trading day You should read the most recent pricing supplement related to the DSXJ dated October 4, 2010 and the DSTJ dated November 19, 2010 before you make an investment. You may access these pricing supplements on the SEC website at www.sec.gov as follows: http://www. sec.gov/Archives/edgar/data/19617/000089109210004301/e40346 _424b2. pd http://www. sec.gov/Archives/edgar/data/19617/000089109210005255/e40955 _424b2. pdf 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 this offering will arrange to send you the prospectus and each prospectus supplement as well as any product supplement, pricing supplement and term sheet if you so request by calling toll-free 800-576-3529. Free Writing Prospectus Related to Registration Statement No. 333-155535 To the extent there are any inconsistencies between this free writing prospectus and the relevant pricing supplement, the relevant pricing supplement, including any hyperlinked information, shall supersede this free writing prospectus. Investment suitability must be determined individually for each investor. The financial instruments described herein may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accountin legal, regulatory or tax advice. Investors should consult their own advisors on these matters. 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, 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. The tax consequences of the ETNs are uncertain. 11/23/2010