FWP 1 dp41214_fwp-rex.htm FORM FWP
 
 

JPMorgan Upside Auto Callable Reverse Exchangeable Notes linked to the common
stock of Ford Motor Company. due October 29, 2014

The notes are designed for investors who seek a higher interest rate than either
the current dividend yield on the Reference Stock or the yield on a conventional
debt security with the same maturity issued by us. Investors should be willing
to forgo the potential to participate in the appreciation of the Reference
Stock, to accept the risks of exposure to equities in general and the Reference
Stock, and also be willing to assume the risks associated with an automatic call
of the notes and, if the notes are not automatically called, lose some or all of
their principal at maturity. Any payment of the notes is subject to the credit
risk of JPMorgan Chase and Co.

Trade Details/Characteristics

Reference Stock:        The common stock, par value of $0.01 per share, of
                                                        Ford Motor Company.
                        10.10% per annum if the notes are not automatically
                                called; or if they are automatically called:
Interes Rate:           [] 2.525% if the notes are automatically called on
                                                the first Call Date;
                        [] 5.050% if the notes are automatically called on
                                                the second Call Date; or
                        [] 7.575% if the notes are automatically called on
                                        the final Call Date
Buffer Amount:          20% of the Initial Share Price, subject to adjustments
Automatic Call:         If on any of the Call Dates, the closing price of
                        one share of the Reference Stock is greater than the
 Initial Share Price, the notes
                        will be automatically called on that Call Date.
Payment if Called:      If the notes are automatically called, on the applicable
                                 Call Settlement Date, for each $1,000 principal
 amount note, you will
                        receive  $1,000 plus any accrued and unpaid  interest to
but excluding that Call Settlement Date.
Payment at Maturity:    If the notes are not automatically called, the payment
                        at maturity, in excess of any accrued and unpaid
 interest, will be based
                        on the performance of the Reference Stock. For each
                          $1,000 principal amount note, you will receive $1,000
 plus any accrued
                        and unpaid interest at maturity, unless the Final Share
                        Price is less than the Initial Share Price by more
 than the Buffer Amount
                        If the notes are not automatically  called and the Final
Share Price is less than the Initial Share Price by
 more than the Buffer
                        Amount, at maturity you will receive, in addition to
                                any accrued and unpaid interest, instead of the
 principal amount of your
                        notes, a cash payment equal to the Cash Value. The Cash
                        Value will be less than the principal amount of your
 notes, and may
                        be zero.
Cash Value:             The product of (1) $1,000 divided by the Initial Share
                                Price and (2) the Final Share Price, subject to
 adjustments
Initial Share Price:    The closing price of the Reference Stock on the Pricing
                                Date, divided by the Stock Adjustment Factor.
Final Share Price:      The arithmetic average of the closing prices of one
                             share of the Reference Stock on each of the Ending
 Averaging Dates
Pricing Date:           October 11, 2013
Settlement Date:        On or about, October 16, 2013
Call Dates:

January 23, 2014 (first Call Date), April 24, 2014 (second Call Date), July 24,
2014 (third Call Date). Call Settlement Dates: With respect to each Call Date,
the first Interest Payment Date occurring after that Call Date Interest Payment
Dates: January 28, 2014, April 29, 2014, July 29, 2014, and the Maturity Date
Ending Averaging Dates: October 20, 2014, October 21, 2014, October 22, 2014,
October 23, 2014, and October 24, 2014 Preliminary

Term                                                                      Sheet:

http://www.sec.gov/Archives/edgar/data/19617/000095010313005904/
dp41198_fwp-1013.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

[]   Your investment in the notes may result in a loss of some or all of your
     principal.

[]   The automatic call feature may force a potential early exit

[]   Any payment on the notes is subject to the credit risk of JPMorgan Chase
     and Co.

[]   The benefit provided by the Buffer Amount may terminate near maturity.

[]   The appreciation potential of the notes is limited to the principal amount
     plus accrued interest regardless of any appreciation in the Refererence
     Stock.

[]   The Buffer Amount applies only if you hold the notes to maturity

[]   JPMorgan Chase and Co. and its affiliates play a variety of roles in
     connection with the issuance of the notes, including acting as a
     calculation agent and hedging JPMorgan Chase and Co.'s obligations under
     the notes. Their interests may be adverse to your interests.

[]   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.

[]   No ownership or dividend rights in the Reference Stock.

[]   Lack of liquidity: J.P. Morgan Securities LLC ("JPMS") intends to offer to
     purchase the notes in the secondary market, but is not required to do so.
     Even if there is a secondary market, it may not provide enough liquidity to
     allow you to trade or sell the notes easily.

[]   The anti-dilution protection for the Reference Stock is limited and may be
     discretionary.

[]   JPMS' s estimated value does not represent the future value of the notes
     and may differ from others' estimates.

[]   JPMS's estimated value will be lower than the issue price (price to the
     public) of the notes.

[]   JPMS's estimated value is not determined by reference to credit spreads for
     our convential fixed rate debt.

[]   Secondary market prices of the notes will likely be lower than the price
     you paid for the notes and will be impacted by many economic and market
     factors.

[]   The averaging convention used to calculate the Final Share Price could
     limit returns.

Examples of Hypothetical Payments at Maturity for Each $1,000 Principal Amount
Note The following table illustrates hypothetical payments at maturity or upon
an automatic call on a $1,000 investment in the notes, based on a range of
hypothetical Final Share Prices and closing prices on any of the Call Dates. The
numbers appearing in the following table and examples have been rounded for ease
of analysis. For this table of hypothetical payments at maturity, we have also
assumed the following: Initial Share Price: $17.00 Buffer Amount (in U.S.
dollars): $3.40

Interest Rate: 10.10% per annum if the note is held to maturity:

[]   2.525% (10.10% per annum) if the notes are automatically called on the
     first Call Date

[]   5.050% (10.10% per annum) if the notes are automatically called on the
     second Call Date

[]   7.575% (10.10% per annum) if the notes are automatically called on the
     third Call Date

                                                     Hypothetical Final Share
 Hypothetical Highest
 Payment on the applicable Call
 Hypothetical Final Share  Price expressed as a    Payment on the applicable
Closing Price on any of the                 Payment at Maturity**
 Settlement Date/Maturity Date
                 Price     percentage of Initial    Call Settlement Date**
     Call Dates
 Including Coupon
                                                         Share Price
      $34.00      NA         NA        $1,000.00    $1,000.00     $1,010.10
      $25.50      NA         NA        $1,000.00    $1,000.00     $1,010.10
      $21.25      NA         NA        $1,000.00    $1,000.00     $1,010.10
      $17.85      NA         NA        $1,000.00    $1,000.00     $1,010.10
      $17.00    $17.00     100.00%       NA         $1,000.00     $1,010.10
      $17.00    $16.15     95.00%        NA         $1,000.00     $1,010.10
      $14.80    $13.60     80.00%        NA         $1,000.00     $1,010.10
      $13.00    $12.75     75.00%        NA         $750.00       $760.10
      $12.20    $8.50      50.00%        NA         $500.00       $510.10
      $6.00     $4.25      25.00%        NA         $250.00       $260.10
      $3.40     $0.00       0.00%        NA          $0.00        $10.10

** Note that you will receive at maturity or on the applicable Full Settlement
Date, as applicable, accrued and unpaid interest in cash, in addition to (1) at
maturity, the Cash Value or the principal amoutn of the notes or (2) on the
applicable Call Settlement Date, $1,000 in cash.

Hypothetical Return on a Note First Three Call Dates Compare the closing price
of one share of the Reference Stock to the Initial Stock Price until the final
Ending Averaging Dates

If the closing price of the Reference Stock is greater The Notes will be
automatically called and you will receive (i) the principal amount plus (ii) the
interest Automatic Call than or equal to the Initial Stock Price payment for the
respective Call Date

If the closing price of the Reference Stock is less No Automatic Call You will
receive the interest payment and proceed to the next call date than the Initial
Stock Price

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 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.

Filed pursuant to Rule 433 Registration Statement No. 333-177923 Dated: October
08, 2013