Free Writing Prospectus

Filed Pursuant to Rule 433

Registration Statement No. 333-199966

Dated June 9, 2015

J.P. Morganlnvestable Indices Home ..... Indices~ ..... lndeX Summary J. P. Morgan Dorsey Wright Focus 5 Balanced Index 8.5% [GRAPHIC OMITTED] J. P. Morgan Dorsey Wright Focus 5 Balanced Index 8.5% : Jun 10 2014 to Jun o8 2015 [GRAPHIC OMITTED]

Index Level Data Risk Measures Return Statistics Return ------------------ --- ------------ ----------------- ---- -------- ----------------- ----------- ---------- ------- ----- ------- Level Date -------- --------- --- ------------ ---- ------------ ---- -------- -------- -------- ----------- ---------- ------- ----- ------- Current 174.74 05-Jun-2015 Volatility 8.26% Annualized Return 14.34% Daily Return 0.01% Higll 177.85 20 Mar-2015 Sharpe Ratio 1.74 Average Monthly Return 1.04% Month to Date Return -0.76% Low 152.68 17-Jul-2014 Maximum Drawdown -3.99% Year To Date Return 6% Start 153.11 10-Jun-2014 3 Month Return 1.09% End 174.74 05-Jun-2015 1Year Return 14.08% I 3 Year Return 49.62% I 5 Year Return 67.71% Monthly Return (%) ------------------ --- ------------ ---- ------------ ---- -------- -------- -------- ----------- ---------- ------- ----- ------- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year -------- --------- --- ------------ ---- ------------ ---- -------- -------- -------- ----------- ---------- ------- ----- ------- 2014 2.18 -1.55 4.84 -1.41 2.15 2.42 -0.23 11.06 2015 1.62 3.4 0.99 -2.05 2.77 -0.76 6

Footnotes (l) Calculation descriptions The first twelve columns under 'Monthly Return(%)' above reflect the performance of the index from the first trading day of the month displayed to the last trading day of that month. The final column reflects the performance of the index for the year displayed. These returns may be based on hypothetical, historical index levels and rot actual index levels. There is no guarantee that the Index will achieve the monthly and annual returns displayed in the future. Past performance is not indicative of future returns. **[] As of the date shown above, the index was calculated based on a level for such index equal to 100 on the date specified at the "Selected Start Date". Index level Data Current: Current refers to the closing level of the index as of the trading day immediately preceding the date you have accessed this website. High: High refers to the highest closing level of the index during the time period selected, with the date on which such highest closing level occurs indicated under the ' Date" column next to the High level . The High level may be a hypothetical, historical level and not an actual level of the Index. There is no guarantee that the Index will achieve the High level in the future. low: low refers to the lowest closing level of the index during the time period selected, with the date on which such lowest closing level occurs indicated under the ' Date" column next to the Low level. The Low level may be a hypothetical, historical level and not an actual level of the Index. The level of the Index could, in the future, decline below the Low level displayed on this website. Start: Start refers to the closing level of the index on the first trading day of the time period indicated. End: End refers to the closing level of the index on the last trading day of the time period indicated. Risk Measures Volatility: Volatility refers to the standard deviation of the daily logarithmic returns of the index over the time period specified and annualized. Volatility is a widely used measure to express the risk of : he financial instrument over the specified time period. Compared to conventional arithmetic return calculations, logarithmic returns are generally lower for positive returns and generally have higher magnitude for negative returns. The volatility calculations include hypothetical, historical back-tested information that has inherent limitations. No representation is made that in the future the Index will have the Volatility shown. Actual annualized Volatility may vary materially from the analysis implied in this hypothetical, historical calculation.

Sharpe Ratio: The Sharpe Ratio is a measure that aims to capture the potential return of an index per unit of risk. For a given index and a specified time period, it is calculated by dividing the Annualized Return for the specified time period by the Volatility for the specified time period. The Sharpe Ratio calculation may contain components with hypothetical, historical back-tested information that have inherent limitattons. No represemation is made that in the future the Index will have the Sharpe Ratio shown. The actual Annualized Return and the Volatility and, accordingly, the Sharpe Ratio, may vary materially from the analysis implied in any hypothetical, historical calculation. Maximum Drawdown.: Maximum Drawdown is the percentage change in the index from the highest value reached over the specified time period to the lowest value reached over the specified time pen od. The Maximum Drawdown may be based on hypothetical, historical Index levels and not actual Index levels. The Maximum Drawdown could, in the future, be larger than the Maximum Drawdown displayed above. Embedded Index Fee: The levels of the Index may be reduced by an adjustment factor which may have a considerable impact on the level of the Index. Return Statistics Annualized Return: The Annualized Return is the percentage change in the index from the first day of the specified time period to the last day of the specified time period and annualized. The Annualized Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Annualized Return in the future. Past performance is not indicative of future returns. Average Monthly Return: Average Monthly Return is the arithmetic average of the Monthly Returns for each full calendar month during the specified time period. For a given monthly period the Monthly Return is the percemage change in the index during the monthly period. The Average Monthly Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Average Monthly Return in the future. Past performance is not indicative of future returns. Return Daily Return: The Daily Return is the return of the Index from the trading day immediately preceding the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, :he Daily Return is the return of the Index from the trading day that is two trading days immediately preceding the specified end date to the trading day immediately preceding the specified end date. The Daily Return may be based on hypothetical, historical index levels and not actual index levels. There is no guarantee that the Index will achieve the Daily Return in the future. Past performance is not indicative of future returns. Month to Date Return: The Month to Date Return is the return of the Index from the last trading day of the month that occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Month to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Month to Date Return in the future. Past performance is not indicative of future returns. Year to Date Return: The Year to Date Return is the return of the Index from the last trading day of the year that occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or no: a trading day, to the trading day immediately preceding the specified end date. The Year to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Year to Date Return in the future. Past performance is not indicative of future returns. 3 Month Return: The 3 Month Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring three months prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The 3 Month Return may be based on hypothetical, historical Index levels and not actual index levels. There is no guarantee that the Index will achieve the 3 Month Return in the future. Past performance is not indicative of future returns.

1 Year Return: The 1 Year Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring one year prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The 1 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the l Year Return in the future. Past performance is nor indicative of future returns. 3 Year Return: The 3 Year Return is the trailing return of Index from the trading day that occurs on or immediately preceding the date occurring three years prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date and IS not annualized]. The 3 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that !he Index will achieve the 3 Year Return in the future. Past performance is not indicative of future returns. 5Y Return: The 5 Year Return is the trailing return of the Index from the trading day that occurs on or Immediately preceding the date occurring five years prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date, and is not annualized. The 5 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 5 Year Return in the future. Past performance is not indicative of future returns. (2) Short Summary of the Risks The Index was established on November 28, 20l4 and therefore has a limited operating history. Past performance should not be considered indicative of future performance. The level of the Index will include the deduction of a fee of 0.50% per annum and a synthetic borrowing cost calculated based on the relevant LIBOR rates. The index fee and borrowing cost will be deducted daily. The Index comprises only notional assets and liabilities and therefore there is no actual portfolio of assets to which any person is entitled or in which any person has any ownership. The synthetic investment strategy on which the Index is based may not be successful, may not outperform any alternative strategy that may be employed in respect of the First Trust Dorsey Wright focus 5 ETF (the ?Equity Constituent?) and the J.P. Morgan Dynamic Treasury Futures Index (USD) (the ?Bond Constituent?, together with the EQuity Constituent, the ?Target Constituents?), or may not achieve its target volatility of 8.5% . The investment strategy used to construct the Index involves daily adjustments to its synthetic exposure to its Target Constituents. 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 : he 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 Target Constituents are subject to risks relating to their selection methodologies. Our affiliate, J.P. Morgan Securities pic ('JPMS pic"), is the calculation agent and may adjust the Index in a way that affects its level. The policies and judgments for which JPMS pic is responsible could have an impact, positive or negative, on the level of the Index. JPMS pic is under no obligation to consider your interest as an investor in securities linked to the Index. The risks identified above are not exhaustive. The Index Rules, and not any description in this summary of risks. govern the calculation and constitution of 1he Index and other decisions and actions relating to its maintenance. Additional information is available upon request. For more information regarding the Index, clients should contact their J.P. Morgan representative. (3) General Disclaimers For certificates of deposit: The information contained on this Website is for discussion purposes only. Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether historical or hypothetical, will be achieved. These terms are subject to change, and JPMorgan undertakes no duty to update this information. This information shall be amended, superseded and replaced in its entirety by a subsequent term sheet, disclosure supplement and/or private placement memorandum, and the documents referred to therein. In the event any inconsistency between the information presented herein and any such term sheet. d1sclosure supplement and/ or private placement memorandum, such term sheet. disclosure supplement and/or private placement memorandum shall govern. Investments in products linked to an Index require investors to assess several characteristics and risk factors that may not be present in other types of transactions. In reaching a determination as to the appropriateness of any proposed transaction, clients should undertake a thorough independent review of the legal, regulatory, credit, tax, accounting and economic consequences of such transaction in relation to their particular circumstances. This website contains market data from various sources other than us and our affiliates, and, accordingly, we make no representation or warranty as to the market data's accuracy or completeness. All information is subject to change without notice.

SEC LEGEND JPMorgan Chase and Co. ('J.P. Morgan' ) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for any offering of securities to which these materials relate. Before you invest in any offering of securities by J.P. Morgan, you should read the prospectus in that registration statement and the other documents relating to the offering that J.P. Morgan files with the SEC for more complete information about J.P. Morgan and the offering of securities. You may get these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, J.P. Morgan, any agent, or any dealer participating in the particular offering will arrange to send you the prospectus and the prospectus supplement, as well as any product supplement, underlying supplement and term sheet or pricing supplement, if you so request by calling toll-free 866-535-9248. Use of Simulated Returns Back-testing and other statistical analysis material that is provided in connection with the explanations of the potential returns of the products linked to the Index use simulated analysis and hypothetical circumstances to estimate how it may have performed prior to its actual existence. The results obtained from such 'back-testing" information should not be considered indicative of the actual results that might be obtained from an investment or participation in a financial instrument or transaction referencing the Index. J.P. Morgan provides no assurance or guarantee that the products linked to the Index will operate or would have operated in the past in a manner consistent with these materials. The hypothetical, back-tested, historical levels presented herein have not been verified by an independent third party, and such hypothetical, back-tested, historical levels have inherent limitations. Alternative simulations, techniques, modeling or assumptions might produce significantly different results and prove to be more appropriate. Hypothetical back-tested results are neither an indicator nor guarantee of future returns. Actual results will vary, perhaps materially, from the simulated returns presented in this website. IRS Circular 23D Disclosure We and our affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with J.P. Morgan 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. 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. Copyright02Dl5JPMorganChaseandCo.AIIRightsReserved

J.P. Morganlnvestable Indices Home -} Indices -} Index Summary JPMorgan ETF Efficiente 10 TR Series X Index [GRAPHIC OMITTED] Summary JPMorgan ETF Efficiente 10 TR Series X Index: Jun 10 2 0 14 to Jun o8 2 0 15 [GRAPHIC OMITTED]

Index Level Data Risk Measures Return Statistics Return -------------------- ------------ ----------------- ----- -------- ----------------- ------ ----- --------- -------- ----- -------- Level Date -------- ----------- ------------ ----- =========== ===== -------- ------- --------- ------ ----- ========= ======== ===== -------- Current 171.99 08-Jun-2015 Volatility 118.69% Annualized Return -74.19% Daily Return -0.2% High 471.9 09-Sep-2014 Sharpe Ratio -0.63 Average Monthly Return -6.04% Month to Date Return -1.55% Low 163.74 02-0ct-2014 Maximum Drawdown -65.3% Year To Date Return -1.01% Start 0 3 Month Return -0.83% End 171.99 08-Jun-2015 1 Year Return -63.55% 3 Year Return -63.55% 5 Year Return -63.55% Monthly Return (o/o) -------------------- ------------ ----- ----------- ----- -------- ------- --------- ------ ----- --------- -------- ----- -------- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year -------- ----------- ------------ ----- ----------- ----- -------- ------- --------- ------ ----- --------- -------- ----- -------- 2014 -65.21 3.91 1.23 0.61 -63.18 2015 2.5 -0.02 0. 61 -1.82 -0.67 -1.55 -1.01

Footnotes (l) Calculation descriptions The first twelve columns under 'Monthly Return(%)' above reflect the performance of the index from the first trading day of the month displayed to the last trading day of that month. The final column reflects the performance of the index for the year displayed. These returns may be based on hypothetical, historical index levels and all actual index levels. There is no guarantee that the Index will achieve the monthly and annual returns displayed in the future. Past performance is not indicative of future returns. ** [] As of the date shown above, the index was calculated based on a level for such index equal to 100 on the date specified at the "Selected Start Date". Index level Data Current: Current refers to the closing level of the index as of the trading day immediately preceding the date you have accessed this website. High: High refers to the highest closing level of the index during the time period selected, with the date on which such highest closing level occurs indicated under the ' Date" column next to the High level. The High level may be a hypothetical, historical level and not an actual level of the Index. There is no guarantee that the Index will achieve the High level in the future. low: low refers to the lowest closing level of the index during the time period ;elected, with the date on which such lowest closing level occurs indicated under the ' Date" column next to the Low level. The Low Level may be a hypothetical, historical level and not an actual level of the Index. The level of the Index could, in the future, decline below the Low Level displayed on this website. Start: Start refers to the closing level of the index on the first trading day of the time period indicated. End: End refers to the closing level of the index on the last trading day of the time period indicated. Risk Measures Volatility: Volatility refers to the standard deviation of the daily logarithmic returns of the index over the time period specified and annualized. Volatility is a widely used measure to express the risk of the financial instrument over the specified time period. Compared to conventional arithmetic return calculations, logarithmic returns are generally lower for positive returns and generally have higher magnitude for negative returns. The volatility calculations include hypothetical, historical back-tested information that has inherent limitations. No representation is made that in the future the Index will have the Volatility shown. Actual annualized Volatility may vary materially from the analysis implied in this hypothetical, historical calculation.

Sharpe Ratio: The Sharpe Ratio is a measure that aims to capture the potential return of an index per unit of risk. For a given index and a specified time period, it is calculated by dividing the Annualized Return for the specified time period by the Volatility for the specified time period. The Sharpe Ratio calculation may contain components with hypothetical, historical back-tested information that have inherent limitations. No representation is made that in the future the Index will have the Sharpe Ratio shown. The actual Annualized Return and the Volatility and, accordingly, the Sharpe Ratio, may vary materially from the analysis implied in any hypothetical, historical calculation. Maximum Drawdown.: Maximum Drawdown is the percentage change in the index from the highest value reached over the specified time period to the lowest value reached over the specified time period. The Maximum Drawdown may be based on hypothetical, historical Index levels and not actual Index levels. The Maximum Drawdown could, in the future, be larger than the Maximum Drawdown displayed above. Embedded Index Fee: The levels of the Index may be reduced by an adjustment factor which may have a considerable impact on the level of the Index. Return Statistics Annualized Return: The Annualized Return is the percentage change in the index from the first day of the specified time period to the last day of the specified time period and annualized. The Annualized Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Annualized Return in the future. Past performance is not indicative of future returns. Average Monthly Return: Average Monthly Return is the arithmetic average of the Monthly Returns for each full calendar month during the specified time period. For a given monthly period the Monthly Return is the percentage change in the index during the monthly period. The Average Monthly Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Average Monthly Return in the future. Past performance is not indicative of future returns. Return Daily Return: The Daily Return is the return of the Index from the trading day immediately preceding the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, the Daily Return is the return of the Index from the trading day that is two trading days immediately preceding the specified end date to the trading day immediately preceding the specified end date. The Daily Return may be based on hypothetical, historical index levels and not actual index levels. There is no guarantee that the Index will achieve the Daily Return in the future. Past performance is not indicative of future returns. Month to Date Return: The Month to Date Return is the return of the Index from the last trading day of the month that occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Month to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Month to Date Return in the future. Past performance is not indicative of future returns. Year to Date Return: The Year to Date Return is the return of the Index from the last trading day of the year t hat occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Year to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Year to Date Return in the future. Past performance is not indicative of future returns. 3 Month Return: The 3 Month Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring three months prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The 3 Month Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 3 Month Return in the future. Past performance is not indicative of future returns.

1 Year Return: The 1 Year Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring one year prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The! Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 1 Year Return in the future. Past performance is not indiCative of future Returns. 3 Year Return: The 3 Year Return is the trailing return of Index from the trading day that occurs on or immediately preceding :he date occurring three years prior to the specified end date to the specified end date, provided that if the specified end date is today?s date or not a trading day, to the trading day immediately preceding the specified end dateland is not annualized!. The 3 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 3 Year Return in the future. Past performance is not indicative of future returns. 5Y Return: The 5 Year Retu rn is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring five years prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the tradmg day immediately precedmg the specified end date. and IS not annualized. The 5 Year Retu rn may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 5 Year Return in the future. Past performance is not indicative of futu re returns. (2) Short Summary of the Risks The Index was established on September 29, 2014 and therefore has a limited operating history. Past performance should not be considered indicative of future performance. There are risks associated with a momentum-based investment strategy. The Index is different from a strategy that seeks long-term exposure to a portfolio consisting of constant components with fixed weights. The Index may fail to realize gains that could occur from holding assets that have expenenced price declines, but experience a sudden price spike thereafter. Correlation of performances among the basket constituents composing the Index may reduce the performance of the Index. High correlation during periods of negative retur ns among the basket constituents composing the Index (' the Basket Constituents') representing any one sector or asset type which have a substantial weighting in the Index could have a material adverse effect on the performance oi the Index. The Index com prises only notional assets and liabilities and therefore th ere is no actual portfolio of assets to which any person is entitled or in which any person has any ownership. The synthetic investment strategy on which the Index is based may not be successful, may not outperform any alternative strategy related to the Basket Constituents, or may not achieve its target volatilitY of 10%. The investment strategy involves monthly rebalancing and maximum weighting caps applied to the Basket Constitue nts by asset type and geographical region. Changes in the value of the Basket constituents may offset each other. An investment linked to the Index is subject to risks associated with non[] U.S. securities markets, including emerging markets risk. Our affiliate, J.P. Morgan Securities pic ("JPMS pic'), is the calculation agent and may adjust the Index in a way that affects its level. The policies and judgments for which JPMS pic is responsible could have an impact, positive or negative, on the level of the Index. JPMS pic is under no obligation to consider your interest as an investor m secunties hnked to the Index. The risks identified above are not exhaustive. The Index Rules, and not any description in this summary of risks, govern the calculation and constitUtion of the Index and other decisions and actions relating to its maintenance. Additional information is available upon request. For more information regard ing the Index, clients should contact their J.P. Morgan representative. (3) General Disclaimers For certificates of deposit: The information contained on this Website is for discussion purposes only. Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether histoncal or hypothetical, will be achieved. These terms are subject to change, and JPMorgan undertakes no duty to update this information. This information shall be amended, superseded and replaced in its entirety by a subsequent term sheei , disclosure supplement and/or private placement memorandum, and the documents referred to therein. In the event any inconsistency between the information presented herein and any such term sheet, disclosure supplement and/ or private placemem memorandum, such term sheet, disclosure supplement and/or private placement memorandum shall govern. Investments in products linked to an Index require investors to assess several characteristics and risk factors that may not be present in other types of transact ions. In reaching a determination as to the appropriateness of any proposed transaction, clients should undertake a thorough independent review of the legal, regulatory, credit, tax, accounting and economic consequences of such transaction in relation to their particular circumstances. This website contains market data from various sources other than us and our affiliates, and, accordingly, we make no representation or warranty as to the market data's accuracy or completeness. All information is subject to change without notice.

SEC LEGEND JPMorgan Chase and Co. ('J.P. Morgan' ) has filed a regist ration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for any offering of securities to which these materials relate. Before you invest in any offering of securities by J.P. Morgan, you should read the prospectus in that registration statement and the other documents relating to the offering that J.P. Morgan files with the SEC for more complete information about J.P. Morgan and the offering of securities. You may get these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, J.P. Morgan, any agent, or any dealer participating in the particular offering will arrange to send you the prospectus and the prospectus supplement, as well as any product supplement, underlying supplement and term sheet or pricing supplement, if you so request by call ing toll-free 866-535-9248. Use of Simulated Returns Back-testing and other statistical analysis material that is provided in connection with the explanations of the potential returns of the products linked to the Index use simulated analysis and hypothetical circumstances to estimate how it may have performed prior to its actual existence. The results obtained from such 'back-testing" information should not be considered indicative of the actual results that might be obtained from an investment or participation in a financial instrum ent or transaction referencing the Index. J.P. Morgan provides no assurance or guarantee that the products linked to the Index will operate or would have operated in the past in a manner consistent with these materials. The hypothetical, back-tested, historical levels presented herein have not been verified by an independent third party, and such hypothetical, back-tested, historical levels have inherent limitations. Alternative simulations, techniques, modeling or assumptions might produce significantly different results and prove to be more appropriate. Hypothetical back-tested results are neither an indicator nor guarantee of future returns. Actual results will vary, perhaps materially, from the simulated returns presented in this website. IRS Circular 23D Disclosure We and our affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with J.P. Morgan 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 herei n may not be suitable for all investors. 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. Copyright[c]2015 JPMorganChaseandCo. AIIRightsReserved

J.P. Morganlnvestable Indices Home - Indices - Index Summary Summary [GRAPHIC OMITTED]

Index Level Data Risk Measures Return Statistics Return ------------------ ----------- ----------------- ---- ------ ----------------- ----------- ---------- -------- ----- ------- Level Date -------- --------- ----------- ----- =========== ==== ------ -------- -------- ----------- ---------- -------- ----- ------- Current 114.08 05-Jun-2015 Volatility 2.74% Annualized Return -2.44% Daily Return -0.24% High 117.25 24-Jun-2014 Sharpe Ratio -0.89 Average Monthly Return -0.18% Month to Date Return -0.45% Low 111.39 16-Dec-2014 Maximum Drawdown -5% Year To Date Return 1.11% Start 116.89 10-Jun-2014 3 Month Return 0.29% End 114.08 05-Jun-2015 1Year Return -2.36% 3 Year Return 11.57% 5 Year Return 14.08% Monthly Return (%) ------------------ ----------- ----- ----------- ---- ------ -------- -------- ----------- ---------- -------- ----- ------- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year -------- --------- ----------- ----- ----------- ---- ------ -------- -------- ----------- ---------- -------- ----- ------- 2014 0.45 -1.79 1.03 -1.73 0.48 -0.6 -1.09 -1.84 2015 0.04 1.13 -0.46 0.4 0.45 -0.45 1.11

Footnotes (l) Calculation descriptions The first twelve columns under 'Monthly Return(%)' above reflect the performance of the index from the first trading day of the month displayed to the last trading day of that month. The final column reflects the performance of the index for the year displayed. These returns may be based on hypothetical, historical index levels and not actual index levels. There is no guarantee that the Index will achieve the monthly and annual returns displayed in the future. Past performance is not indicative of future returns. ** [] As of the date shown above, the index was calculated based on a level for such index equal to 100 on the date specified at the "Selected Start Date". Index level Data Current: Current refers to the closing level of the index as of the trading day immed iately preceding the date you have accessed this website. High: High refers to the highest closing level of the index during the time period selected, with the date on which such highest closing level occurs indicated under the ' Date" column next to the High level. The High Level may be a hypothetical, historical level and not an actual level of the Index. There is no guarantee that the Index will achieve the High Level in the future. low: low refers to the lowest closing level of the index during the time period selected, with the date on which such lowest closing level occurs indicated under the ' Date" column next to the Low level. The Low Level may be a hypothetical, historical level and not an actual level of the Index. The level of the Index could, in the future, decline below the Low Level displayed on this website. Start: Start refers to the closing level of the index on the first trading day of the time period indicated. End: End refers to the closing level of the index on the last trading day of the time period indicated. Risk Measures Volatility: Volatility refers to the standard deviation of the daily logarithmic returns of the index over the time period specified and annualized. Volatility is a widely used measure to express the risk of the financial instrument over the specified time period. Compared to conventional arithmetic return caculations, logarithmic returns are generally lower for positive returns and generally have higher magnitude for negative returns. The volatility calculations include hypothetical, historical back-tested information that has inherent limitations. No representation is made that in the future the Index will have the Volatility shown. Actual annualized Volatility may vary materially from the analysis implied in this hypothetical, historical calculation.

Sharpe Ratio: The Sharpe Ratio is a measure that aims to capture the potential return of an index per unit of risk. For a given index and a specified time period, it is calculated by dividing the Annualized Return for the specified time period by the Volatility for the specified time period. The Sharpe Ratio calculation may contain components with hypothetical, historical back-tested information that have inherent limitations. No representation is made that in the future the Index will have the Sharpe Ratio shown. The actual Annualized Return and the Volatility and, accordingly, the Sharpe Ratio, may vary materially from the analysis implied in any hypothetical, historical calculation. Maximum Drawdown.: Maximum Drawdown is the percentage change in the index from the highest value reached over the specified time period to the lowest value reached over the specified time period. The Maximum Drawdown may be b ased on hypothetical, historical Index levels and not actual Index levels. The Maximum Drawdown could, in the future, be larger than the Maximum Drawdown displayed above. Embedded Index Fee: The levels of the Index may be reduced by an adjustment factor which may have a considerable impact on the level of the Index. Return Statistics Annualized Return: The Annualized Return is the percentage change in the index from the first day of the specified time period to the last day of the specified time period and annualized. The Annualized Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Annualized Return in the future. Past performance is not indicative of future returns. Average Monthly Return: Average Monthly Return is the arithmetic average of the Monthly Returns for each full calendar month during the specified time period. For a given monthly period the Monthly Return is the percentage change in the index during the monthly period. The Average Monthly Return may be b{.sed on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Average Monthly Return in the future. Past performance is not indicative of future returns. Return Daily Return: The Daily Return is the return of the Index from the trading day immediately preceding the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, the Daily Return is the return of the Index from the trading day that is two trading days immed iately preceding the specified end date to the trading day immediately preceding the specified end date. The Daily Return may be based on hypothetical, historical index levels and not actual index levels. There is no guarantee that the Index will achieve the Daily Return in the future. Past performance is not indicative of future returns. Month to Date Return: The Month to Date Return is the return of the Index from the last trading day of the month that occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Month to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Month to Date Return in the future. Past performance is not indicative of future returns. Year to Date Return: The Year to Date Return is the return of the Index from the last trading day of the year that occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Year to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Year to Date Return in the future. Past performance is not indicative of future returns. 3 Month Return: The 3 Month Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring three months prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the tradir g day immediately preceding the specified end date. The 3 Month Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 3 Month Return in the future. Past performance is not indicative of future returns. 1 Year Return: The 1 Year Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring one year prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The 1 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 1 Year Return in the future. Past performance is not indicative of future returns.

3 Year Return: The 3 Year Return is the trailing return of Index from the trad1ng day that occurs on or immediately preceding the date occurnng three years prior to the specified end date to the specified end date, provided that if the specified end date is today?s date or not a trading day, to the tradmg day immediately preceding the specified end dateland is not annualized!. The 3 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 3 Year Return in the future. Past performance is not indicative of future returns. 5Y Return: The 5 Year Retu rn is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring five years prior to the specified end date to the specified end date, provided ! hat if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date, and is not annualized . The 5 Year Retu rn may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee tha: the Index will achieve the 5 Year Return in the future. Past performance is not indicative of future returns. (2) Short Summary of the Risks The Index was establ ished on August 16, 2011 and therefore has a limited operating history. Past performance should not be considered indicative of future performance. The level of the Index will include the deduction of a fee of 1.00% per an num, that accrues daily. The Index comprises only notional assets and liabilities and therefore there is no actual portfolio of assets to which any person is entitled or in which any person has any ownership. The synthetic investment strategy on which the Index is based may not be successful, may not outperform any alternative strategy related to the PIMCO 0[]5 Year High Yield Corporate Bond Index Exchange[] Traded Fund (the ?High Yield Constituent?), or may not achieve its target volatility of 3%. The daily adjustment of exposure to the High Yield Constituent may vary and the Index may be potentially uninvested, which could result in a portion or most of the Index reflecting no return. Changes in the value of the basket constltuems may offset each other. The Index is subject to short[]term borrowing costs. An mvestmem linked to the Index IS subject to risks associated with fixed income securities. including interest rate risk and credit risk The 3[]month USD LIBOR will be affected by a number of factors including Federal Reserve Board policies, prevailing interest rates, general economic conditions, and changes on or perceptions about future 3-month USD LIBOR levels. Our affiliate, J.P. Morgan Securities pic ("JPMS pic'), is the calculation agent and may adjust the Index in a way that affects its level. The policies and judgments for whiCh JPMS pic IS responsible could have an impact, positive or negative, on the level of the Index. JPMS pic is under no obligation to consider your interest as an investor in securities linked to the Index. The risks identified above are not exhaustive. The Index Rules. and no1 any description in this summary of risks, govern the calculation and constitution of the Index and other decisions and actions relating to its maintenance. Additional information is available upon request. For more information regarding :he Index, clients should contact their J.P. Morgan representative. (3) General Disclaimers For certificates of deposit: The information contained on this Website is for discussion purposes only. Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether historical or hypothetical, will be achieved. These terms are subjecr to change, and JPMorgan undertakes no duty to update this information. This information shall be amended, superseded and replaced in its entirety by a subsequent term sheet, disclosure supplement and/or private placement memorandum, and the documents referred to therein. In the evem any inconsist ency between the information presented herein and any such term sheet, disclosure supplement and/ or private placement memorandum, such term sheet, disclosure supplement and/or private placement memorandum shall govern. Investments in products linked to an Index require investors to assess se11eral characteristics and risk factors that may not be present in other types of transactions. In reaching a determination as to the appropriateness of any proposed transaction, clients should undertake a :horough independent review of the legal, regulatory, credit, tax, accounting and economic consequences of such transaction in relation to their particular circumstances. This website contains m arket data from various sources other than us and our affiliates, and, accordingly, we make no represem ation or warranty as to the market data's accuracy or completeness. All information is subject to change without notice. SEC LEGEND JPMorgan Chase and Co. ('J.P. Morgan") has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for any offer ing of securities to which these materials relate. Before you invest in any offering of securities by J.P. Morgan, you should read the prospectus in that registration statement and the m her documents relating to the offering that J.P. Morgan files with the SEC for more complete information about J.P. Morgan and the offering of securities. You may get these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, J.P. Morgan, any agent, or any dealer participating in the particular offering Will arrange to send you the prospectus and the prospectus supplement. as well as any product supplement, underlying supplement and term sheet or pric1ng supplement, if you so request by call ing toll-free 866-535-9248.

Use of Simulated Returns Back-testing and other statistical analysis material that is provided in connection with the explanations of the potential returns of the products linked to the Index use simulated analysis and hypothetical circumstances w estimate how it may have performed prior to its actual existence. The results obtained from such 'back-testing" information should not be considered indicative of the actual results that might be obtained from an investment or participation in a financial instrument or transaction referencing the Index. J.P. Morgan provides no assurance or guarantee that the products linked to the Index will operate or would have operated 1n the past in a manner consistent with these materials. The hypothetical, back-tested, historical levels presented herein have not been verified by an independent third party, and such hypothetical, back-rested, historical levels have inherent limitations. Alternative simulations, techniques, modeling or assumptions might produce significantly different results and prove to be more appropriate. Hypothetical back-rested results are neither an indicator nor guarantee of future returns. Actual results will vary, perhaps materially, from the simulated returns presented in this website. IRS Circular 230 Oisclosure We and our affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with J.P. Morgan 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 herei n may not be suitable for all investors. This information is not intended to provide and should not be relied upon as providing accounting, legal, regu lawry or tax advice. Investors should consult with their own advisors as to these matters. Copyright 2015 JPMorganChaseandCo.AIIRightsReserved

J.P. Morganlnvestable Indices Home __. Indices __. Index Summary J. P. Morgan U.S. Sector Rotator 5 Index (Series 1) [GRAPHIC OMITTED] Summary Expori Current Statistics II I'"'" I'" J. P. Morgan U.S. Sector Rotator 5 Index (Series 1): Jun 07 2014 to Jun 05 20 15 [GRAPHIC OMITTED]

Index Level Data Risk Measures Return Statistics Return --------------------- ----------- ----------------- ---- ------ ----------------- ----------- ---------- ------- ----- ------- Level Date -------- ------------ ----------- ----- ----------- ---- ------ -------- -------- ----------- ---------- ------- ----- ------- Current 159.81 05-Jun-2015 Volatility 4.55% Annualized Return 0.09% Daily Return -0.16% High 165.09 26-Dec-2014 Sharpe Ratio 0.05 Average Monthly Return 0.03% Month to Date Return -0.32% Low 156.96 07-Aug-2014 Maximum Drawdown -3.2% Year To Date Return -2.41% Start 159.67 06-Jun-2014 3 Month Return -1.73% End 159.81 05-Jun-2015 1Year Return 0.19% 3 Year Return 13.51% 5 Year Return 28.56% Monthlf Return (o/o) -------- ------------ ----------- ----- ----------- ---- ------ -------- -------- ----------- ---------- ------- ----- ------- Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year -------- ------------ ----------- ----- ----------- ---- ------ -------- -------- ----------- ---------- ------- ----- ------- 2014 0.73 -1.33 2.16 -0.43 1.41 0.97 -0.38 4.41 2015 -0.31 -0.32 -0.88 -0.77 0.17 -0.32 -2.41

J.P. Morganlnvestable Indices Indices About Us Logout Footnotes 1} Calculation descriptions The first tv.elve columns under Monthly Return (ill})' above reflect the performance of che index from the first uading day of the month dosplayed to the last trading day of that month. The final column reflects the performance of the index for the year displayed. These returns may be based on hypothetocal, hostorocal index levels and not actual index levels. There is no guarantee that the Index will achoeve the monthly and annual returns displayed in the future. Past performance is not indicative of future returns. ** [] As of the date shown above, the index was calculated based on a level for such index equal to 100 on the date specified at the "Selected Start Date". Index Level Data Current: Current refers to the closing level of the index as of the trading day immediately preceding the date you have accessed this website. High: High refers to the highest closing level of the ondex during the time period selected, wi!h the date on which such highest closing level occurs ondicated under the ' Date" column next to the High level. The High Level may be a hypothetical, historical level and not an actual level of the Index. There is no guarantee that the Index will achieve the High Level on the future. Low: Low refers to the lowest closing level of the ondex dunng the time period selected, with the da:e on which such lowest closing level occurs ondicated under the 'Date' column next to the Low level. The Low Level may be a hypothetical, historical level and not an actual level of the Index. The level of the Index could, in the future, decline below the Low Level displayed on this website. Start: S:art refers to the closing level of the 1ndex on the first trading day o' the time period indica:ed. End: End refers to the closing level of the ondex on the last trading day of the time period indicated. Risk Measures Volatility: Volatility refers to the standard devoat1on of the daily logarithmic returns of the index over the time period specified and annualized. Volatility IS a widely used measure to express the risk of the financial instrument over the specified time period. Compared to conventoonal anthmetic r eturn calculations, logarithmic returns are generally lower for positove returns and generally have higher magnitude for negative returns. The volatoloty calculations include hypothetical, hostorical back[]tested information that has inherent limitations. No representation is made that in the future the Index will have the Volatility shown. Actual annualized volatility may vary materially from the analysis implied on thos hypothetical, historical calculation. Copyright [c]2015 JPMorganChaseandco. AII RightsReserved

J.P. Morganlnvestable Indices Indices About Us Logout Sharpe Ratio: The Sharpe Ratio is a measure that atms to capture the potential return of an index per unit of risk. For a given index and a speCified ttme period, it is calculated by dividing the Annualized Return for the specified time period by the Volatility for the spectfied time period. The Sharpe Ratio e{lculation may comain components with hypothetical, htstorical back-tested information that have inherent limitations. No representation is made that in the future the Index will have the Sharpe Ratio shown. The actual Annualized Return and the Volatility and, accordingly, the Sharpe Ratio, may vary materially from the analysis implied in any hypothetical, historical calculation. Maximum Drawdown: Maximum Drawdown is the percentage change tn the tndex from the highE}st value reached over the specified time period to the lowest value reached over the specified time period. The Maximum Drawdown may be based on hypothetical, historical Index levels and not actual Index IE}vels. The Maximum Drawdown could, in the future, be larger than the Maximum Drawdown displayed above. Embedded Index Fee: The levels of the Index may be reduced by an adJUStment factor which may have a considerable impact on the level of the Index. Return Statistics Annualized Return: The Annualized Return is the percentage change tn the index from the first day of the specified tine period to the last day of the spec1fted ume period and annualized. The Annualized Return may be based on hypothetical, historical Index levels and not actual Index levels. TherE} is no guarantee that the Index will achieve the Annualized Return 1n the future. Past performance is not indicative of future returns. Average Monthly Return: Average Monthly Return is the arithmetiC average of the Monthly Return; for each full calendar month during the specified ttme period. For a given monthly period the Monthly Return is the percentage change in the index during the monthly period. The Average Monthly Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Average Monthly Return in the future. Past performance is not IndiCative of future returns. Return Daily Return: The Daily Return is the return of the Index from the trading day immediately preceding the specified end date to the specified end date, provided that if the specified end date is roday's date or not a trading day, the Daily Return is the return of the Index from the tradtng day that is two trading days immediately preceding the specified end date to the tradtng day immediately preceding the specified end date. The Daily Return may be based on hypothetical, historicaltndex levels and not actual index lev~ls. There is no guarantee that the Index will achieve the Daily Return in the future. Past performance is not indicative of future returns. Month to Date Return: The Month to Date Return is the return of the Index from the last trading day of the month that occurs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Month to Date Return may be based on hypotheucal, h1storicallndex levels and not actual Index levels. There is no guarantee that the Index will achieve the Month to Date Return 1n the future. Past performa1c[pound]} is not indicative of future returns. Year to Date Return: The Year to Date Return is the return of the Index from the last trading day of the year that occurs prior to the specified end date to the speCified end date, providE}d that if the specified end date is today's date or not a rrading day, to the trading day immediately precedtng the specified end j ate. The Year :o Da:e Return may be based on hypotheucal, htstoncallndex levels and not actual Index levels. There is no gJarantee that the Index will achieve the Year to Date Return in the future. Past performance is not indicative of future returns. 3 Month Return: The 3 Mon: h Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurnng three months prior to the specified end date : o : he specified end date, prov1ded that if the specified end date is today's date or not a trad1ng day, to the trading day immediately preceding the specified end date. The 3 Month Return may be based on hypothetical, his:oricallndex levels and not actual Index levels. There is no guarantee that the Index w1ll achieve the 3 Mon:h Return in the future. Past performance is not indicattve of future returns. 1 Year Return: The I Year Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurnng one year prior to the specified end date to the specified end date, provided thattf the specified end date is today's date or not a trad1ng day, to the trading day immediately preceding the specified end date. The I Year Return may be based on hypothetical, historical Index levels and not actual Index levels. Copyright ll 2015JPMorganChaseandco.AII Rights Reserved

J.P. Morganlnvestable Indices Indices About Us Logout 3 Year Return: The 3 Year Return is the trailing return of Index from the trading day that occurs on or immediately preceding the date occurring three years prior to the specified end date to the specified end date, provided that if the specified end date is today?s date or not a trading day, to the trading day immediately preceding the specified end dateland is not annualized!. The 3 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 3 Year Return in the future. Past performance is not indicative of future returns. 5Y Return: The 5 Year Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring five years prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date, and is not annualized. The 5 Year Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 5 Year Return in the future. Past performance is not indicative of uuture returns. (2) Short Summary of the Risks The Index was established on June 21, 20 13 and therefore has a limited operating history. Past performance should not be considered indicative of future performance. The level of the Index will include the daily deduction of a fee of 0.50% per annum. Ther e are risks associated with a momentum-based investment strategy. The Index is different from a strategy that seeks long[]term exposure to a portfolio consisting of constant components with fixed weights. The Index may fail to realize gains that could occu r from holding assets that have experienced price declines, but experience a sudden price spike thereafter. Correlation of performances among the basket constituents composing the Index ('the Basket Constituents' ) may reduce the performance of the Index. High correlation during periods of negative returns among the Basket Constituents representing any one sector or asset type which have a substantial weighting in the Index could have a material adverse effect on the performance of the Index. The Index comprises only notional assets and liabilities and therefore there is no actual portfolio of assets to which any person is entitled or in which any person has any ownership. The synthetic investment strategy on which the Index is based may not be successful, may not outperform any alternative strategy related to the Basket Constituents. The Index does not target a specific volatility for the synthetic portfolio as a whole, and its actual realized volatility may be greater or less than 5%. The Index may have exposure only to the bond constituent for an extended period of time. The Index may be subject to increased volatility due to the use of leverage. The Index may be partially uninvested or become entirely uninvested, which will result in a portion or all of the Index reflecting no return. Changes in the value of the basket constituents may offset each other . The investment strategy involves monthly rebalancing and maximum weighting caps that are applied to the Basket Constituents. The Index is subject to risks associated with specific sectors in the U.S marke~. Our affiliate, J.P. Morgan Securities pic ("JPMS pic"), is the calculation agent and may adjust the Index in a way that affects its level. The policies and judgments for which JPMS pic is r esponsible could have an impact, positive or negative, on the level of the Index. JPMS pic is under no obligation to consider your interest as an investor in securities linked to the Index. The risks identified above are not exhaustive. The Index Rules, and not any description in this summary of risks, govern the calculation and CO'ftitution of the Index and other decisions and actions relating to its maintenance. Additional information is available upon reQ uest. For more information regarding the Index, clients should contact their J.P. Morgan representative. (3) General Disclaimers For certificates of deposit: The information contained on this Website is for discussion purposes only. Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether historical or hypothetical, will be achieved. These terms are subject to change, and JPMorgan undertakes no duty to update this information. This information shall be amended, superseded and replaced in its entirety by a subseQuent term sheet, disclosure supplement and/or private placement memorandum, and the documents referred to therein. In the event any inconsistency between the information presented herein and any such term sheet, disclosure supplement and/ or private placement memorandum, such term sheet, disclosure supplement and/or private placement memorandum shall govern. Investments in products linked to an Index reQuire investors to assess several characteristics and risk factors that may not be present in other types of transactions. In reaching a determination as to the appropriateness of any proposed transaction, clients should undertake a thorough independent review of the legal, regulatory, credit, tax, accounting and economic conseQuences of such transaction in relation to their particular circumstances. This website contains market data from various sources other than us and our affiliates, and, accordingly, we make no representatio n or warranty as to the market data's accuracy or completeness. All information is subject to change without notice. SEC LEGEND JPMorgan Chase and Co. ('J.P. Morgan' ) has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (the "SEC") for any offer ing of securities to which these materials relate. Before you invest in any offering of securities by J.P. Morgan, you should read the prospectus in that registration statement and the other documents relating to the offering that J.P. Morgan files with the SEC for more complete information about J.P. Morgan and the offering of securities. You may get these documents without cost by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, J.P. Morgan, any agent, or any Copyright [c]2015 JPMorganChaseandCo. AII RightsReserved

dealer participating in the particular offeri ng will arrange to send you the prospectus and the prospectus supplement, as well as any prod uct supplement, underlying supplement and term sheet or pricing supplement, if you so request by cal ling toll-free 866[]535[]9248. Use of Simulated Returns Back-testing and other statistical analysis material that is provided in connection with the explanations of the potential returns of the products linked to the Index use simulated analysis and hypothetical circumstances to estimate how it may have performed prior to its actual existence. The results obtained from such 'back-testing" information should not be considered indicative of the actual results that might be obtained from an investment or particip ation in a financial instrum ent or transaction referencing the Index. J.P. Morgan provides no assurance or guarantee that the products linked to the Index will operate or would have operated in t he past in a manner consistent with these materials. The hypothetical, back-tested, historical levels presented herein have not been verified by an independent third party, and such hypothetical, back-tested, historical levels have inherent l imitations. Alternative simulations, techniqu es, modeling or assumptions might produce significantly different results and prove to be more appropriate. Hypothetical back-tested results are neither an indicator nor guar antee of future returns. Actual results will vary, perhaps materially, from the simulated returns presented in this website. IRS Circular 230 Oisclosure We and our affiliates do not provide tax advice. Accordingly, any d iscussion of U.S. tax matters co ntained herein is not intended or written to be used, and cannot be used, i n connection with the promotion, marketing or recommendation by a nyone unaffiliated with J.P. Morgan 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 herei n may not be suitable for all investors. 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. Copyright[c]2015 JPMorganChaseandCo. AII RightsReser ved

J.P. Morganinvestable Indices Home --} Indices --} Index Summary J. P.Morgan U.S. Sector Rotator 8 Index (Series 1 ) [GRAPHIC OMITTED] Summary J. P.Morgan U.S. Sector Rotator 8 Index (Series 1 ) : Jun 10 2014 to Jun o8 2015 [GRAPHIC OMITTED]

Index Level Data Risk Measures Return Statistics Return ------------------ ----------- ----------------- --- ------- ----------------- ----------- ---------- -------- ----- ------ Level Date -------- --------- ----------- ----- =========== === ------- -------- -------- ----------- ---------- ======== ===== ------ Current 202.82 05-Jun-2015 Volatility 7.28% Annualized Return 0.41% Daily Return -0.25% High 213.37 26-Dec-2014 Sharpe Ratio 0.06 Average Monthly Return 0.04% Month to Date Return -0.5% Low 197.33 07-Aug-2014 Maximum Drawdown -4.94% Year To Date Return -3.7% Start 202.01 10-Jun-2014 3 Month Return -2.04% End 202.82 05-Jun-2015 1Year Return 0.04% 3 Year Return 17.49% 5 Year Return 17.49% Monthly Return (%) ------------------ ----------- ----- ----------- --- ------- -------- -------- ----------- ---------- -------- ----- ------ Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year -------- --------- ----------- ----- ----------- --- ------- -------- -------- ----------- ---------- -------- ----- ------ 2014 1.19 -2.1 3.49 -0.66 1.92 1.58 -0.59 6.99 2015 -0.47 -0.5 -1.38 -1.21 0.3 -0.5 -3.7

Footnotes (1) Calculation descriptions The first twelve columns under "Monthly Return(%)" above reflect the performance of the index from the first trading day of the month displayed to the last trading day of that month. The final column reflects the performance of the index for the year displayed. These returns may be based on hypothetical, historical index levels and not actual index levels. There is no guarantee that the Index will achieve the monthly and annual returns displayed 1n the furure. Past performance is not indicative of future returns. ** [] As of the date shown above, the index was calculated based on a level for such index eQual to 100 on the date specified a: the "Selected Start Date[]. Index l evel Data Current: Current refers to the closing level of the index as of the trading day immediately preceding the date you have accessed this website. High: High refers to the highest closing level of the index during the time period selected, with the date on which such highest closing level occurs indicated under the "Date" column next to the High level. The High level may be a hypothetical, historical level and not an actual level of the Index. There is no guarantee that the Index will achieve the High Level in the future. low: Low refers to the lowest closing level of the index during the time period selected, with the date on which such lowest closing level occurs indicated under the "Date" column next to the Low level. The Low l evel may be a hypothetical, historical level and not an actual level of the Index. The level of the Index could, in the future, decline below the Low level displayed on this website. Start: S!art refers to the closing level of 1he index on the first trading day of the time period indicated. End: End refers to the closing level of the index on the last !fading day of the time period indicated. Risk Measures Volatility: Volatility refers 10 the standard deviation of 1he daily logarithmic returns of the index over the time period specified and annualized. Vola1ility is a widely used measure to express the risk of the financial instrument over the specified time period. Compared to conventional arithmetic return calculations, logarithmic returns are generally lower for positive returns and generally have higher magnitude for negative returns. The volatili!Y calculations include hypothetical, historical back-tested information that has inherent limitations. No representation is made that in the future the Index will have the Volatility shown. Actual annualized Volatility may vary materially from the analysis implied in this hypothetical. historical calculation.

Sharpe Ratio: The Sharpe Ratio is a measure that aims to capture the potemial return of an 1ndex per unit of risk. For a given index and a specified time period, it is calculated by dividing the Annuali~ed Return for the specified time period by the Volatility for the specified time period. The Sharpe Ratio calculation may comain componenis with hypothetical, historical back[]tested information that have inherent limitations. No representation is made that in the future the Index will have the Sharpe Ratio shown. The actual Annualized Return and rhe Volatility and, accordingly, the Shar pe Ratio, may vary materially from the analysis implied in any hypothetical, historical calculation. Maximum Drawdown: Maximum Drawdown is the percentage change in the index from the highesc value reached over the specified time period to the lowest value reached over the specified time period. The Maximum Drawdown may be based on hypothetical. historical Index levels and not actual Index levels. The Maximum Drawdown could, in the future. be larger than the Maximum Drawdown displayed above. Embedded Index Fee: The levels of the Index may be reduced by an adjustment factor which may have a considerable impact on the level of the Index. Return Statistics Annualized Return: The Annualized Return is the percentage change in the index from the first day of t:he specified time period to the last day of the specified ti me peri od and annualized. The Annualized Return may be based on hypothetical, historical Index levels and nor actual Index levels. There is no guarantee that the Index will achieve the Annualized Return in the future. Past performance is not indicative of future returns. Average Monthly Return: Average Monthly Return is the arit hmetic average of the Monthly Returns for each full calendar month dun ng the specified time period. For a given monthly period the Monthly Return is the percemage change in the index during the monthly period. The Average Monthly Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the Average Monthly Return in the future. Past performance is not indicative of future returns. Return Daily Return: The Daily Return is the return of the Index from the trading day immediately preceding the specified end date to the specified end date, provided tl\at if the specified end date is today's date or not a trading day, the Daily Return is the return of the Index from the trading day that is two uading days immediately preceding the specified end dare to the trading day immediately preceding the specified end date. The Daily Return may be based on hypothetical, historical incfex levels and not actual index levels. There is no guarantee that the Index will achieve the Daily Return in the future. Past performance is not indicative of future returns. Month to Date Return: The Month to Date Rewrn is the return of the Index from the last trading day of the month that OC{CUrs prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The Month to Dare Rerum may be based on hypothetical, historical I ndex levels and nor actual Index levels. There is no guarantee that the Index will achieve rhe Month to Date Return in rhe future. Past performance is nor indicative of future returns. Year to Date Ret urn: The Year to Date Return is the return of the Index from the last trading day ofthe year that occurs orior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day. to the trading day immediately preceding the specified end date. The Year to Date Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee tha: the Index will achieve the Year to Date Return in the future. Past performance IS not Indicative of future returns. 3 Month Return: The 3 Month Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring three months prior to the specified end date to the specified end date, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The 3 Month Return may be based on hypothetical, historical Index levels and not actual Index levels. There is no guarantee that the Index will achieve the 3 Month Return in the future. Past performance is not indicative of future r eturns. 1 Year Return: The 1 Year Return is the trailing return of the Index from the trading day that occurs on or immediately preceding the date occurring one year prior to the specified end date to the specified end dace, provided that if the specified end date is today's date or not a trading day, to the trading day immediately preceding the specified end date. The 1 Year Return may be Dased on hypothetical, historical Index levels and not acrual lndex levels. There is no guarantee chat the Index will achieve the 1 Year Return in the future. Past oer formance is not indicative of future returns.

3 Year Return: The 3 Year Return is the trailing return of Index from the trading day that occurs on or immediately preceding the date occurring three years prior to the specified e}nd date to the spedfied end date, provided that if the specified end date is today?s date or not a trading day, to the trading day immediately preceding the specified end dateland is not annualized], The 3 Year Return may be based on hypothetical, historicallndex levels and not acwal lndex levels. There is no guarantee thai the Index will achieve the 3 Year Rew rn in the future. Past performance is not indicative of future returns. 5Y Return: The 5 Year Return is the rrailing return of the Index from rhe trading day that occurs on or immediately preceding the date occurring five years prior to t he specified end date to the specified end dare, provided :hat if the specified end date is today's date or not a trading day, to the trading day immediately precedmg the specified end date, and is not annualized. The 5 Year Return ma[]1 be based on hypothetical, htstorical lndex levels and not actual Index levels. There is no guarantee that the Index will achieve the 5 Year Return in the iuture. Past performance is nor indicative of future returns. (2} Short Summary of the Risks The Index was established on July !, 20 13 and therefore ha.s a limited operating history. Past performance should n01 be considered indtcative of future performance. The level of the Index will include the deduaion of a fee of 0.50% per annum. There are risks associared with a momentum-based investment strategy. The Index is different from a su aregy that seeks long-term exposure to a portfol io conststing of constant components with fixed weights. The Index may fail to realize gains that could occur from holding assets that have experienced price declines, but experience a sudden price spike thereafter. Correlauon of perforfl'ances ameng the basket constituems composing the Index may reduce the performance of the Index. High correla:ion during periods of negative retum s among the basket constituents composing the Index ("the Baske{ Constituents') representing any one sector or asset type which have a substantial weighting in the Index could have a material adverse effect on the performance of the Index. The Index comprises only n01ional assets and liabilities and therefore there is no actual portfolio of assets to which any person is entitled or in which any person has any ownership. The svmlletic investment strategy on which the Index is based may not be successful, may nOl outperform any alternative strategy related to the basket constituents. The Index does nor target a specific volatility for the synthetic portfolio as a whole, and its actual realized volatility may be greater or less than 8%. The Index may have exposure only to the bond constituent ior an extended period of time. The Index may be subject to increased volatility due to the use oi leverage. The Index may be partially uninvested or become entirely uninvested, which will result in a portion or all of the Index reflecting no Return. Changes m the value of the basket constituents may offset each other. The investment strategy involves monthly rebalanong and maximum weighting caps that are applied to the Basket Constituents. The Index is subject to nsks associated with specific sectors in the U.S market. Our affiliate. J.P. Morgan Securities pic (' JPMS pic"), is :he calculation agent and may adjust the Index in a way that affeas its level. The policies and judgments for which JPMS pic is r esponsible could have an tmpacr, positive or negative, on the level of the Index. JPMS pic is under no obligation to consider your interest as an investor in securities lin ked to the Index. The risks identified above are not e.xhaustive. The Index Rules, and not any description in this summary of risks, govern the calculation and constitution of the Index and other decisions and actions relating to its maintenance. Additional information is available upon request. For more informauon regardmg the Index, dtents should contact thelf J.P. Morgan representative. (3} General Disclaimers For certificates of deposit: The information contained on this Website is for discussion purposes onlv. Any information relating to performance contained in these materials is illustrative and no assurance is given that any indicative returns, performance or results, whether historical or hypothetical, will be achieved. These terms are subjea to change, and JPMorgan undertakes no duty to update this information. This information shall be amended, superseded and replaced in its emirety by a subsequen t term sheer, disclosure supplement and/or private placemenr m emorandum, and the documents referred to : herein. In the event any inconsistency between the information presented herein and any such term sheet, disclosure supplement and/ or orivate placement memorandum, such term sheet, disclosure supplement and/or private placement memorandum snail govern. Investments in products linked to an Index require investors to assess several characteristics and nsk factors that may nor be present tn other types of transacttons. In reachtng a determination as to the appropriateness of any proposed transaction, diems should undertake a thorough independent review of the legal, regulatory, credit, tax, accouncing and e~onomic consequences of such rransaaion in relation ro their particular circumstances. This website contains market data from various sources other than us and our affiliates, and, accordingly, we make no representation or warranty as to the market data's accuracy or completeness. All information is subject to change without notice.

SEC LEGEND JPMorgan Chase and Co. (" J.P. Morgan") has filed a regist ration statemem (including a prospectus) with the Securities and Exchange Commission (the "SEC") for any offering of securities to which these materials relate. Before you invest in any offering of securities by J.P. Morgan, you should read the prospectus in that registration st atement and the other documents relating to the offering that J.P. Morgan files with the SEC for more complete information about J.P. Morgan and the offeri ng of securities. You may get these documents without cost by visiting EDGAR on the SEC Website at '. v.w.sec.gov. Alternatively, J.P. Morgan, any agent, or any dealer par ticipating in the particular offering will arrange to send you the prospectus and the prospectus supplement, as well as any product supplement, underlying supplement and term sheet or pricing supplement. if you so request by calling toll[]free 866-535-9248. Use of Simulated Returns Back-testing and other statistical analysis material that is provided in connection with the explanations of ! he potential returns of the products linked to the Index use simulated analysis and hypothetical circumstances to estimate how it may have performed prior to its actual existence. The results obtained from such "back-testing" information should not be considered indicative of the actual results that might be obtained from an investment or participation in a financial instrument or transaction referencing the Index. J.P. Morgan provides no assurance or guarantee that the produas linked to the Index will operate or would have operated in the past in a manner consistent with these materials. The hypothetical, back-tested, historical levels presented herein have not been verified by an independent third party, and such hypothetical, back-tested, historical levels have inherent limitations. Alternative simulations, techniques, modeling or assumptions might produce significantly different results and prove to be more appropriate. Hypothetical back-tested results are neither an indicator nor guarantee of future returns. Actual resul; s will vary, perhaps materially. from the simulated returns presented in this website. IRS Circular 23D Disclosure We and our affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with J.P. Morgan 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. 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.