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Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement No. 333-177923
Dated May 8, 2013
7yr ETF Efficiente Contingent Annual Income Note
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OVERVIEW
JPMorgan ETFEfficiente5Index(the"Index") is a cross-asset strategy that aims to
maximize returns per unit of risk by using portfolio optimization technology.
The Index uses the concept of the efficient frontier to select the optimum
portfolio from a universe of 12 exchange-traded funds and a cash index, and aims
to maximize returns while targeting a realized volatility of 5%. The strategy
rebalances monthly and is non-discretionary. The Index levels incorporate an
adjustment factor of 0.50% per annum which is deducteddaily. The Notes offer an
annual interest payment equal to the greater of a minimum interest rate of 0.0%
per annum or the annualized performance of the Index. Any payment on the Notes
is subject to the credit risk of JPMorganChase & Co. May be appropriate for
investors requiring asset and geographical diversification and full repayment of
principal at maturity, subject to the credit risk of JPMorgan Chase & Co.
Summary of Terms
Issuer: JPMorganChase & Co.
Minimum Denomination: $1,000
Underlying: JPMorgan ETF Efficiente 5 Index
Underlying Ticker: EEJPUS5E
Interest Rate: Cumulative Index Return x Index
Factor, subject to Minimum Interest Rate
Cumulative Index Return: On each Interest Determination Date,
(Ending Index Level --Initial Index
Level) / Initial Index Level
Index Factor: 1/n, where "n" is equal to the number
of Interest Determination Dates that
have occurred to date, including the
current Interest Determination Date
Minimum Interest Rate: 0.0%*
Ending Index Level: The Index closing level on an Interest
Determination Date
Interest Determination Annual
Dates:
Pricing Date: May 24, 2013
Maturity Date: May 29, 2020
CUSIP: 48126D2Y4
Preliminary Term Sheet: http://www.sec.gov/Archives/edgar/data/
19617/000095010313002594/crt_dp37831-fwp.pdf
For information about the estimated value of the notes, which will be lower than
the price you paid for the notes, see the hyperlink above.
Return Profile
The Interest Rate for each annual Interest Payment Date will be a percentage
equal to the Cumulative Index Return multiplied by the Index Factor, provided
that the Interest Rate will not be less than the Minimum Interest Rate.
You are entitled to repayment in full of your principal investment plus the
minimum return at maturity, even if the strategy declines, subject to the credit
risk of JPMorgan Chase & Co.
[GRAPHIC OMITTED]
Hypothetical back-tested results are neither an indicator nor guarantee of
future returns. Actual results will vary, perhaps materially, from the analysis
implied in the hypothetical back-tested and historical information that forms
part of the information contained in the chart above.
Hypothetical Interest Payments**
Hypothetical Interest Rates
for Interest Payment Dates
[GRAPHIC OMITTED]
*To be determined on the Pricing Date, but not less than 0.0% per annum
**The hypothetical interest payments set forth above assume a Minimum Interest
Rate of 0.0% p. a. and are illustrative and may not be the actual interest
payments on the Notes. These returns do not reflect fees or expenses that would
be associated with any sale in the secondary market. If these fees and expenses
were included, the hypothetical returns shown above would likely be lower.
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J.P. Morgan Structured Investments | 800 576 3529 | JPM_Structured_Investments@jpmorgan.com
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7yr ETF Efficiente Contingent
Annual Income Note
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Selected Benefits North America Structured Investments
[] The Notes offer full return of principal at maturity, subject to the credit
risk of JPMorgan Chase & Co.
[] The Notes will pay a coupon equal to at least the Minimum Interest Rate on
an annual basis
[] Minimum denominations of $10,000 and integral multiples of $1,000 in excess
thereof
[] The Index dynamically allocates among the following 12 ETFs (the "ETF
Constituents") and the JPMorgan Cash Index USD 3 Month (the "Cash
Constituent"), each a "Basket Constituent"
[GRAPHIC OMITTED]
Selected Risks
[] The risks identified below are not exhaustive. Please see "Risk Factors" in
the applicable product supplement and "Selected Risk Considerations" to the
applicable term sheet for additional information.
[] For each Interest Determination Date, if the Cumulative Index Return is
negative or less than the Minimum Interest Rate, yourinterest payment will
equal the Minimum Interest Rate for that period. No guaranteed interest
payment above the Minimum Interest Rate.
[] Payment on the Notes at maturity, as well as any interest payment, is
subject to our credit risk. Therefore the value of the Notes prior to
maturity will be subject to changes in the market's view of our
creditworthiness.
[] Your aggregate interest payments may yield a lower return than the Index
performance over the term of the Notes.
[] The Index Factor negatively impacts the Interest Rate over time, which can
result in lower interest payments later in the term of the Notes.
[] The Index may not be successful. It may not outperform an alternative
strategy related to the Basket Constituents. Changes inthe value of Basket
Constituents may offset each other.
[] The Index is subject to emerging markets risk, fixed income risks, currency
exchange risk, real estate risk, small capitalization stock risk and the
uncertain legal and regulatory regimes which govern commodities future
contracts.
[] Upon the occurrence of a commodity hedging disruption event, the amount of
your coupon payments may be reduced.
[] Our affiliate, JPMS plc, is the index calculation agent and may adjust the
Index in a way that affects its level.
[] No interest payments, dividend payments or voting rights with respect to
assets underlying the Index.
[] The tax consequences of the Notes may be uncertain. You should consult your
tax adviser regarding the U.S. federal income taxconsequences of an
investment in the Notes.
[] JPMS' estimated value does not represent future values and may differ from
others' estimates.
[] The notes' value in customer account statements may be higher than JPMS'
then current estimated value for a limited time.
[] Lack of liquidity: JPMorgan Securities, LLC, acting as agent for the Issuer
(and who we refer to as JPMS), intends to offer to purchase the notes in
the secondary market but is not required to do so. The price, if any, at
which JPMS will be willing to purchase notes from you in the secondary
market, if at all, may result in a significant loss of your principal.
[] Potential conflicts: we and our affiliates play a variety of roles in
connection with the issuance of Notes, including actingasnote calculation
agent and index calculation agent, and hedging our obligations under the
Notes. The profits JPMorgan earns on the notes do not dependon the
performance of the Index. It is possible that such hedging or other trading
activities of JPMorgan or its affiliates could result in substantial
returns for JPMorgan and its affiliates while the value of the Notes
decline.
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Disclaimer
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 this offering will arrange to send you the
prospectus and each prospectus supplement as well as any product 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 notbe 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 JPMorgan
Research Departments. JPMorgan is the marketing name for JPMorgan Chase & Co.
and itssubsidiaries and affiliates worldwide. J.P. Morgan Securities LLC. is a
member of FINRA, NYSE and SIPC. Clients should contact their salespersons at,
and execute transactions through, a JPMorgan entity qualified in their home
jurisdiction unless governing law permits otherwise. Additional information
about the symbols depicted in each cube in the top right[]hand corner of this
fact sheet can be accessed via the hyperlink to one of our filings with the SEC:
http://www.sec.gov/Archives/edgar/data/19617/000095010309000965/symbol_guide.pdf
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J.P. Morgan Structured Investments | 800 576 3529 | JPM_Structured_Investments@jpmorgan.com
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