This slide is not for distribution in isolation and must be viewed in conjunction with the accompanying term sheet, product supplement, prospectus supplement and prospectus, which further describe the terms, conditions and risks associated with the notes.IMAGE OMITTEDCapped Contingent Buffered Equity Notes Linked to the SPDR S&P Homebuilders ETF due November 30, 2015The notes are designed for investors who seek unleveraged exposure to the appreciation of the SPDR S&P Homebuilders ETF subject to a contingent minimum return and up to a maximum return of 11.50% at maturity. Investors should be willing to forgo interest and dividend payments and, if Final Share Price is less than the Initial Share Price by more than 15%, be willing to lose some or all of their principal amount at maturity. Any payment on the notes is subject to the credit risk of JPMorgan Chase & Co.Trade Details/CharacteristicsHypothetical Return for the Notes at MaturityReference Fund:The SPDR S&P Homebuilders ETF (Bloomberg ticker: XHB) (the "Fund") $1,400 Maximum Return:11.50% Note Payoff at Maturity Fund Return For example, assuming the Maximum Return is 11.50%, if the Fund Return is equal to or greater than 11.50%, you will receive the $1,300 Maximum Return of 11.50%, which entitles you to a maximum payment at maturity of $1,115.00 per $1,000 principal amount note thatyou hold.Contingent Minimum Return:4% $1,200 Contingent Buffer Amount:15%Fund Return:(Final Share Price – Initial Share Price) Maturity $1,100 Initial Share PriceInitial Share Price:The closing price of one share of the Fund on the Pricing Date at $1,000 Final Share Price:The arithmetic average of the closing prices of one share of the Fund on the Ending Averaging Dates Payment Payment at Maturity:If the Final Share Price is greater than or equal to the Initial Share Price or is less than the Initial Share Price by up to the ContingentBuffer Amount, at maturity you will receive a cash payment that provides you with a return per $1,000 principal amount note equal to $900 the Fund Return, subject to the Contingent Minimum Return and the Maximum Return. Accordingly, under these circumstances, yourpayment at maturity per $1,000 principal amount note will be calculated as follows: $800 $1,000 + ($1,000 × the greater of (i) the Contingent Minimum Return and (ii) the Fund Return), subject to the Maximum Return $700 If the Final Share Price is less than the Initial Share Price by more than the Contingent Buffer Amount, you will lose 1% of the principalamount of your notes for every 1% that the Final Share Price is less than the Initial Share Price. Under these circumstances, your $600 -30% -20% -10% 0% 10% 20% 30% payment at maturity per $1,000 principal amount note will be calculated as follows: Fund Return $1,000 + ($1,000 × Fund Return)If the Final Share Price is less than the Initial Share Price by more than the Contingent Buffer Amount of 15%, you will lose more than15% of your principal amount at maturity and may lose all of your principal amount at maturity.The following table and examples illustrate the hypothetical total return and the hypothetical payment atPricing Date:November 13, 2015maturity on the notes. The “total return” as used in this term sheet is the number, expressed as apercentage, that results from comparing the payment at maturity per $1,000 principal amount note toEnding Averaging Dates:November 18, 2016, November 21, 2016, November 22, 2016, November 23, 2016, and November 25, 2016 (the Final Ending$1,000. Each hypothetical total return or payment at maturity set forth below assumes an Initial Share PriceAveraging Date)of $35 and reflects the Maximum Return of 11.50%, the Contingent Minimum Return of 4% and thePreliminary Termsheet http://www.sec.gov/Archives/edgar/data/19617/000095010315008771/dp61120_fwp-1105.htm Contingent Buffer Amount of 15%.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 theterms are set.IMAGE OMITTEDRisk ConsiderationsHypothetical Examples of Amounts Payable at Maturity The risks identified below are not exhaustive. Please see the term sheet hyperlinked above for more information. Final Share PriceFund ReturnTotal Return• Your investment in the notes may result in a loss.63.000080.00%11.50% • The appreciation potential of the notes is limited, and you will not participate in any appreciation in the Reference Index above the Maximum Return.52.500050.00%11.50% • Any payment on the notes is subject to the credit risk of JPMorgan Chase & Co.49.000040.00%11.50% • JPMorgan Chase & Co. and its affiliates play a variety of roles in connection with the issuance of the notes, including acting as calculation agent and hedging JPMorgan Chase & Co.'s45.500030.00%11.50% obligations under the notes. Their interests may be adverse to your interests.42.000020.00%11.50% • The benefit provided by the contingent buffer may terminate on the final Ending Average Date.39.025011.50%11.50% • 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 may36.75005.00%5.00% not provide enough liquidity to allow you to trade or sell the notes easily.36.40004.00%4.00% • JPMS's estimated value does not represent the future value of the notes and may differ from others' estimates.35.87502.50%4.00% • JPMS's estimated value will be lower than the issue price (price to the public) of the notes.35.00000.00%4.00% • JPMS's estimated value is not determined by reference to credit spreads for our conventional fixed rate debt.33.2500-5.00%4.00% • The performance and current market value of the Fund, particularly during periods of market volatility may not correlate with the underlying index or the NAV of the Fund.31.5000-10.00%4.00% • Risks associated with the homebuilders industry:29.7500-15.00%4.00% • Risks related to non-U.S. issuers of29.7465-15.01%-15.01% • The anti-dilution protection for the Fund is limited26.2500-25.00%-25.00% • No interest or dividend payments or voting rights on the Fund.21.0000-40.00%-40.00% 3.5000-60.00%-60.00% 0.0000-80.00%-80.00% SEC Legend: JPMorgan Chase & 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 & Co. has filed with the SEC for more complete information about JPMorgan Chase & Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase & 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, underlying supplement and term sheet if you so request by calling toll-free 866-535-9248. IRS Circular 230 Disclosure: JPMorgan Chase & 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 & 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. 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. Filed pursuant to Rule 433 Registration Statement No. 333-199966 Dated: November 10,2015