[GRAPHIC OMITTED]
P. Morgan Exchange Traded Notes
P. Morgan is an award-winning global provider of innovative investment
solutions. The firm offers a broad nge of investment options, including Exchange
Traded Notes (ETNs). ETNs are senior, unsecured debt curities issued by JPMorgan
Chase and Co. that offer returns on investments based on exposure to different
derlying assets. J.P.Morgan's ETNs can be utilized by a wide variety of
investors to provide convenient cess to markets or strategies that may not be
easily or efficiently available via existing investment rategies.

ACCESS AGREEMENT
Featured ETNs
--------------------------------------------------------------------------------
[GRAPHIC OMITTED]
--------------------------------------------------------------------------------

Disclaimer

Transactions and securities of the type described in this Website may involve a
high degree of risk, and the value of such transactions and securities may be
highly volatile. ETNs are our senior unsecured obligations and are not secured
debt. ETNs are riskier than ordinary unsecured debt securities and have no
principal protection. Risks of investing in ETNs include limited portfolio
diversification, trade price fluctuations, uncertain principal repayment and
potential illiquidity. Investing in ETNs is not equivalent to direct investment
in an index or index components. The tracking or investor fees and, if
applicable, repurchase fees will reduce the amount of your return at maturity or
upon early repurchase, and as a result you may receive less than the principal
amount of your investment at maturity or upon early repurchase of your ETNs even
if the value of the relevant index has increased. An investment in ETNs may not
be suitable for all investors. Any ETNs with inverse and/or leveraged exposure
have been designed to be actively managed investments for sophisticated
investors who understand leverage (short) risk.

This brief statement does not disclose all of the risks and other significant
aspects in connection with transactions and securities of the type described in
this Website, and you should ensure that you fully understand the terms of any
transaction/ securities, including the relevant risk factors and any legal, tax
and accounting considerations applicable to them, prior to
transacting/investing.

Investors should carefully review the "Main Risks" for each ETN displayed on
this website as well as the product specific risks contained under the heading
"Selected Risk Considerations" in the applicable pricing supplement posted on
the ETN Website as well as under "Risk Factors" in the product supplement which
accompanies that pricing supplement.

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including
a prospectus) with the SEC for any offerings to which these materials relate.
Before you invest, you should read the prospectus in that registration statement
and the other documents relating to this offering that JPMorgan Chase and Co.
has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase and Co.,
any agent or any dealer participating in the this offering will arrange to send
you the prospectus and each prospectus supplement as well as any product
supplement and term sheet if you so request by calling toll -free 866-535-9248.

ETNs may be sold throughout the day on the exchange through any brokerage
account. There are restrictions on the minimum number of ETNs you may require us
to repurchase directly as specified in the relevant pricing supplement and
product supplement. Commissions may apply. Sales in the secondary market may
result in significant losses. There are tax consequences in the event of sale,
redemption or maturity of the ETNs.

Buying and selling ETNs may result in brokerage commissions. If you wish to
continue to purchase ETNs, you must contact your broker. Investments in
financial instruments such as ETNs 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. We and/or our
affiliated companies may make a market or deal as principal in the securities
mentioned in this document or in options, futures, or other derivatives based
thereon.

Neither the SEC nor any state securities commission has approved or disapproved
of the ETNs or passed upon the adequacy of any offering documents on the ETN
Website. Any representation to the contrary is a criminal offense.

IRS Circular 230 Disclosure: We and our 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 the Issuer 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 JPMorgan Research Departments.


Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                              1

JPMorgan Alerian MLP Index ETN
Overview    Performance     Underlying Index   Yield

Jump To: Disclaimer | Key Features | Footnote                  ACCESS AGREEMENT


Alerian MLP Index Exchange Traded Notes ("ETNs") provide investors a
convenient way to gain exposure to midstream energy MLPs. The ETNs pay a Fact
Sheet variable quarterly coupon linked to the cash distributions paid on the
MLPs in the Prospectus index, less accrued tracking fees1 . The ETN coupons are
reported on Form 1099s and therefore eliminate the administrative burden
associated with K-1 forms. Investors can trade the ETNs on the NYSE, Arca
exchange or receive a cash payment at the scheduled maturity or upon early
repurchase 2 , based on the performance of the index less accrued tracking fees
and, if applicable, the repurchase fee. The ETNs are senior, unsecured
obligations of JPMorgan Chase and Co.

[GRAPHIC OMITTED]

Please review the Footnotes for explanation of the identified terms above

Returns, Standard Deviation and Correlation                                          View Chart
------------------------------------------------------------------------------------------------
Underlying Index                  3 Month  1 Yr Return   3 Yr Return     Standard    Correlation
                                  Return                 Annualised     Deviation
Alerian MLP Index                 -4.19%      9.43%          21.86%         29.13%     1.00
SandP 500 Index                   -7.82%      3.29%           0.82%         29.91%     0.73
SandP 500 Utilities Index          3.88%     11.81%           3.94%         25.43%     0.66
SandP GSCI Index                  -6.96%      6.82%         -16.97%         31.27%     0.54
SandP/BGCantor U.S. Treasury Bond  3.83%      5.10%           5.58%          4.82%     0.36
Dow Jones US REIT Index          -10.37%      1.36%          -1.44%         60.62%     0.52
------------------------------------------------------------------------------------------------
Please review note 12 in the footnotes below

Footnote

1. The "Accrued Tracking Fee" for a given coupon period, as more fully described
in the relevant pricing supplement, represents an amount equal to the Tracking
Fee of 0.85% per annum accrued for that coupon period multiplied by the Current
Indicative Value on the Index Business Day prior to the date of determination,
plus the aggregate amounts, if any, by which the previous Accrued Tracking Fees
have exceeded the cash distributions, if any, made by the underlying MLPs.

2. Investors may request on a weekly basis that the Issuer repurchase a minimum
of 50,000 notes prior to the maturity date, subject to the procedures described
in the relevant pricing supplement. Early repurchases will be subject to a
Repurchase Fee of 0.125%, as further described in the relevant pricing
supplement.

3. The intraday indicative value of the ETNs (the "IIV") is meant to approximate
the intrinsic economic value of an ETN. The IIV calculation will be provided for
reference purposes only. It is not intended as a price or quotation. The IIV
will be based on the intraday indicative values of the underlying Index, and may
not be equal to the payment at maturity or upon early repurchase. Please see the
relevant pricing supplement for details.

4. The coupons are based on the cash distributions, if any, paid on the
underlying MLPs, less the Accrued Tracking Fee. The coupons are variable and may
be zero.

5. The Closing Price means the last trade reported as of the date shown above.
                                                                            p03a

6. The High Price means the highest trade reported on the date shown above.

7. The Low Price means the lowest trade reported on the date shown above.

8. The Closing Indicative Value is the last level calculated for the intraday
indicative value on the date shown above. Please see footnote3 above for further
information on the intraday indicative value of the ETNs.

9. Current Volume means the number of the ETNs traded across all exchanges on
the date shown above. The liquidity of the market for the ETNs may vary
materially over time. This does not include ETNs held by JPMorgan Chase and Co.
or any of its affiliates.

10. Average Volume (or Daily Average Trading Volume) means the average number of
the ETNs traded across all exchanges over the 3 - month period ending on the
date shown above. The liquidity of the market for the ETNs may vary materially
over time.

11. Market Capitalization means the product of (i) the Closing Price of the ETNs
on the date shown above and (ii) the total number of ETNs that have been issued,
including any held by JPMorgan Chase and Co. or one of its affiliates.

12. Sources: Reuters, JPMorgan. The values are calculated as of the date shown
above. The returns indicated reflect the percentage change over the specified
period ending on the date shown above, and are annualized where indicated. The
standard deviation and correlation are based on daily logarithmic returns over
the past 3 years. Compared to arithmetic returns, logarithmic returns are lower
for positive returns and have higher magnitude for negative returns. However,
for small return calculations, such as the daily returns set forth in the charts
above, the difference is expected to be minimal.

The returns, standard deviations and correlations are provided for informational
purposes only. Correlation refers to correlation of the relevant index to the
Alerian MLP Index. The returns are total returns for all the indices which
reflect the performance of each index, including dividends, but do not include
the Tracking Fee, the repurchase fee or any transaction costs or expenses .
Historical performance of the underlying Index is not indicative of future
performance of the underlying Index or the ETNs. There is no guarantee that the
Index or the ETNs will outperform any investment strategy.

13. Sources: Reuters, JPMorgan. As of the date shown above. Each of these
indices was calculated based on a level for such index set equal to 100 on the
date specified as the beginning of the "custom time period" selected above.
Historical performance of the underlying Index is not indicative of future
performance of the underlying Index or the ETNs. Fluctuations in the Index may
be more or less than that for the value of the ETNs. All returns displayed above
reflect the index performance including dividends, and are calculated without
deducting the Accrued Tracking Fee, repurchase fee or any applicable transaction
fees. There is no guarantee that the Index or the ETNs will outperform any
alternative investment strategy. Your payment at maturity or upon early
repurchase of the ETNs, as more fully described in the relevant pricing
supplement, is based on the VWAP Level of the Alerian MLP Index which excludes
dividends. The VWAP Level of the Index will most likely differ from its closing
level.

                                                                     Back to Top

Key Features

Main Benefits:

o    Exposure to a portfolio of energy MLPs through a single investment.
o    Quarterly coupons based on the cash distributions, if any, paid on the MLPs
     in the Index, less fees.
o    No K-1 forms will be received by investors as a result of their investment
     in the ETNs. The coupons are reported as ordinary income on Form 1099.
o    The ETNs trade on the NYSE, Arca.

Main Risks:

o    An investment in the ETNs may result in a loss.
o    The ETNs are exposed to the credit risk of JPMorgan Chase and Co.
o    The ETNs may not have an active trading market and may not continue to be
     listed over their term The payment at maturity or upon early repurchase of
     the ETNs will be based on the VWAP Level of the Index and not on the
     closing level of the Index. The VWAP Level of the Index will most likely
     differ from the closing level of the Index or the IIV.
o    Potential conflicts: We and/or our affiliates act as calculation agent for
     the ETNs and hedge our obligations under the ETNs.
o    The coupon payments on the ETNs will be variable and may be zero. The
     Accrued Tracking Fee reduces the potential coupons and/or the payment at
     maturity or upon early repurchase.
o    The Issuer's obligation to repurchase the ETNs is on a weekly basis and is
     subject to substantial minimum size restrictions.
o    Potential Conflicts: we and/or our affiliates act as calculation agent for
     the ETNs and hedge our obligations under the ETNs.
o    You will not know how much you will receive upon early repurchase at the
     time that you elect we repurchase your ETNs. Early repurchase will be
     subject to a repurchase fee.
o    The risks identified above are not exhaustive. You should also review
     carefully the related "Risk Factors" section of the relevant product
     supplement and the "Selected Risk Considerations" in the relevant pricing
     supplement. Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including
a prospectus) with the SEC for any offerings to which these materials relate.
Before you invest, you should read the prospectus in that registration statement
and the other documents relating to this offering that JPMorgan Chase and Co.
has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase and Co.,
any agent or any dealer participating in this offering will arrange to send you
the prospectus and each prospectus supplement as well as any product supplement,
pricing supplement and term sheet if you so request by calling toll-free
800-576-3529.

To the extent there are any inconsistencies between this website and the
relevant pricing supplement, the relevant pricing supplement, including any
hyperlinked information, shall supersede this website.

Investment suitability must be determined individually for each investor. The
financial instruments described herein may not be suitable for all investors.
This information is not intended to provide and should not be relied upon as
providing accounting, legal, regulatory or tax advice. Investors should consult
their own advisors on these matters.

IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not
provide tax advice. Accordingly, any discussion of U.S. tax matters contained
herein (including any attachments) is not intended or written to be used, and
cannot be used, in connection with the promotion, marketing or recommendation by
anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address
herein or for the purpose of avoiding U.S. tax-related penalties. The tax
consequences of the ETNs are uncertain.

"Alerian MLP Select Index, Alerian MLP Select Total Retrun Index, Alerian MLP
Index and Alerian MLP Total Return Index are trademarks of GKD Index partners,
LLC".

SandP does not guarantee the accuracy and/or the completeness of the SandP 500R
Index or any data included therein and SandP shall have no liability for any
errors, omissions or interrruptions therein. SandP makes no warranty, express or
implied as to results to be obtained by any person or entity from the use of the
SandP 500R Index or any data included therein. SandP makes no express or implied
warranties, and expressly disclaimsall warranties of merchantability or fitness
for a particular purpose or use with respect to the S and P 500R Index or any
data included therein. Without limiting any of the foregoing, in no event shall
SandP have any liability for any special, punitive, indirect or consequential
damages (inhcluding lost profits), even if notified of the possibility of such
damages.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of the McGraw-Hill
companies, Inc. This website is not sponsored, endorsed, sold or promoted by
SandP and SandP makes no representation regarding the advisability of purchasing
any of the ETNs.
                                                                            p03b

The Dow Jones Industrial AverageSM is a product of Dow Jones Indexes, a licensed
trademark of CME Group Index Services LLC ("CME"). "Dow JonesR", "Dow Jones
Industrial AverageSM", "DJIASM" and "Dow Jones Indexes" are service marks of Dow
Jones Trademark Holdings, LLC ("Dow Jones").

Dow Jones, CME and their respective affiliates do not:
Sponsor, endorse, sell or promote the ETNs.
Recommend that any person invest in the ETNs.
Have any responsibility or liability for or make any decisions about the timing,
amount or pricing of the ETNs. Have any responsibility or liability for the
administration, management or marketing of the ETNs.
Consider the needs of the ETNs or the owners of the ETNs in determining,
composing or calculating the DJIA or have any obligation to do so.

Dow Jones, CME and their respective affiliates will not have any liability in
connection with the ETNs. Specifically,

Dow Jones, CME and their respective affiliates do not make any warranty, express
or implied, and Dow Jones, CME and their respective affiliates disclaim any
warranty about:
  The results to be obtained by the ETNs;
  The accuracy or completeness of the DJIA or its data;
  The merchantability and the fitness for a particular purpose or use of the
  DJIA or its data;
Dow Jones, CME and/or their respective affiliates will have no liability for any
errors, omissions or interruptions in the DJIA or its data;
Under no circumstances will Dow Jones, CME and/or their respective affiliates be
liable for any lost profits or indirect, punitive, special or consequential
damages or losses, even if they know that they might occur.
                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p03c

JPMorgan Alerian MLP Index ETN

Overview    Performance     Underlying Index   Yield

Jump To: Disclaimer | Key Features | Footnote

Summary | Analysis and Comparisons

[GRAPHIC OMITTED]

Footnote

1. Performance numbers reflect the actual coupons paid by the ETN. For the
purpose of determining the performance we have assumed the coupon payments have
been reinvested to purchase additional units of the ETN as of their respective
Coupon Ex-Dates. The calculation was performed assuming a starting level of 100%
on the date specified as the beginning of the "custom time period" selected
above. Historical performance of the ETNs is not indicative of future
performance. Your payment at maturity or upon early repurchase of the ETNs, as
more fully described in the relevant pricing supplement, is based on the VWAP
Level of the Alerian MLP Index. In addition, your payment at maturity for each
ETN will not reflect the reinvestment of coupons. Instead. as long as you hold
the ETNs, you will receive a quarterly coupon whose amount is variable.

2. The coupons paid on the ETNs are based on the cash distributions, if any,
paid on the underlying MLPs, less the Accrued Tracking Fee. The coupons are
variable and may be zero.

                                                                     Back to Top

Key Features

Main Risks:

The ETNs may result in a loss.
The ETNs are exposed to the credit risk of JPMorgan Chase and Co.
The ETNs may not have an active trading market and may not continue to be listed over their term
The payment at maturity or upon early repurchase of the ETNs will be based on the VWAP
Level of the Index and not on the closing level of the Index. The VWAP Level of the Index
will most likely differ from the closing level of the Index or the IIV.
The coupon payments on the ETNs will be variable and may be zero. The Accrued Tracking Fee
reduces the potential coupons and/or the payment at maturity or upon early repurchase.
The Issuer's obligation to repurchase the ETNs is on a weekly basis and is subject to substantial
minimum size restrictions
You will not know how much you will receive upon early repurchase at the time that you elect we
repurchase your ETNs.
The risks identified above are not exhaustive. You should also review carefully the related
"Risk Factors" section of the relevant product supplement and the "Selected Risk
Considerations" in the relevant pricing supplement.

                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including
a prospectus) with the SEC for any offerings to which these materials relate.
Before you invest, you should read the prospectus in that registration statement
and the other documents relating to this offering that JPMorgan Chase and Co.
has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase and Co.,
any agent or any dealer participating in this offering will arrange to send you
the prospectus and each prospectus supplement as well as any product supplement,
pricing supplement and term sheet if you so request by calling toll-free
800-576-3529. To the extent there are any inconsistencies between this website
and the relevant pricing supplement, the relevant pricing supplement,
                                                                            p04a

including any hyperlinked information, shall supersede this website.

Investment suitability must be determined individually for each investor. The
financial instruments described herein may not be suitable for all investors.
This information is not intended to provide and should not be relied upon as
providing accounting, legal, regulatory or tax advice. Investors should consult
their own advisors on these matters.

IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not
provide tax advice. Accordingly, any discussion of U.S. tax matters contained
herein (including any attachments) is not intended or written to be used, and
cannot be used, in connection with the promotion, marketing or recommendation by
anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address
herein or for the purpose of avoiding U.S. tax-related penalties. The tax
consequences of the ETNs are uncertain.

"Alerian MLP Select Index, Alerian MLP Select Total Retrun Index, Alerian MLP
Index and Alerian MLP Total Return Index are trademarks of GKD Index partners,
LLC".

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p04b

JPMorgan Alerian MLP Index ETN

Overview    Performance     Underlying Index   Yield

Jump To: Disclaimer | Key Features | Footnote

Alerian MLP Index

The Alerian MLP Index (the "Index") is a market-cap weighted, float-adjusted
index created to provide a comprehensive benchmark for investors to track the
performance of the energy MLP sector. The Index components are selected by
Alerian Capital Management, LLC ("Alerian"). Alerian is a registered investment
advisor that exclusively manages portfolios focused on midstream energy MLPs.

Index Performance
--------------------------------------------------------------------------------------------
  3 Month Return     1 Yr Return      3 Yr Return Annualised     Std. Deviation Annualised
      -4.19%            9.43%                  21.86%                       29.13%
--------------------------------------------------------------------------------------------

[GRAPHIC OMITTED]

---------------------------------------------------------------------------------------------------------
Top 10 Index Components
 Underlying Index                                         Underlying Ticker            Weight
 Enterprise Products Partners L                               EPD                       15.78
 Kinder Morgan Energy Partners                                KMP                        10.4
 Energy Transfer Partners LP                                  ETP                        5.36
 Plains All American Pipeline L                               PAA                        5.18
 Magellan Midstream Partners                                  MMP                        4.78
 Linn Energy                                                  LINE                       3.99
 Kinder Morgan Management LLC                                 KMR                        3.82
 ONEOK Partners LP                                            OKS                        3.5
 Energy Transfer Equity LP                                    ETE                        3.42
 Enbridge Energy Partners LP                                  EEP                        3.39
---------------------------------------------------------------------------------------------------------

Footnote
1. Sources: Reuters, JPMorgan. The values are calculated as of the date shown
above. The returns indicated reflect the percentage change
                                                                            p05a

over the specified period ending on the date shown above and are annualized
where indicated. The standard deviation and correlation are based on daily
logarithmic returns over the past 3 years. Compared to arithmetic returns,
logarithmic returns are lower for positive returns and have higher magnitude for
negative returns. However, for small return calculations, such as the daily
returns set forth in the charts above, the difference is expected to be
minimal.The returns, standard deviations and correlations are provided for
informational purposes only. Correlation refers to correlation of the relevant
index to the Alerian MLP Index. The returns are total returns for all the
indices which reflect the performance of each index, including dividends, but do
not include the Tracking Fee, the repurchase fee or any transaction costs or
expenses. Historical performance of the Index is not indicative of future
performance of the Index or the ETNs. There is no guarantee that the Index or
the ETNs will outperform any alternate investment strategy.

2. Sources: Reuters, JPMorgan. As of the date shown above. The Index was
calculated based on a level equal to 100 on the date specified as the beginning
of the "custom time period" selected above. Historical performance of the Index
is not indicative of future performance of the Index or the ETNs. Fluctuations
in the Index may be more or less than that for the value of the ETNs. All
returns displayed above reflect the index performance including dividends, and
are calculated without deducting the Accrued Tracking Fee, the repurchase fee or
any applicable transaction fees. There is no guarantee that the Index or the
ETNs will outperform any alternative investment strategy. Your repurchase fee,
payment at maturity or upon early repurchase of the ETNs, as more fully
described in the relevant pricing supplement, is based on the VWAP Level of the
Alerian MLP Index which excludes dividends. The VWAP Level of the Index will
most likely differ from its closing level.

3. Source: Alerian.
                                                                     Back to Top

Key Features

Main Risks:

   The ETNs  may  result in a loss.
   The  ETNs are  exposed  to the  credit  risk of JPMorgan Chase and Co.
   The ETNs may not have an active  trading  market and may not continue
   to be listed over their term
   The payment at maturity or upon early repurchase of the ETNs will be based on the VWAP Level of
   the Index and not on the closing level of the Index. The VWAP Level of the Index will most
   likely differ from the closing level of the Index or the IIV.
   The coupon payments on the ETNs will be variable and may be zero. The Accrued Tracking Fee
   reduces the potential coupons and/or the payment at maturity or upon early repurchase.
   The Issuer's  obligation to repurchase  the ETNs is on a weekly basis and is subject to
   substantial minimum size restrictions.  Potential  Conflicts:  we and/or our affiliates
   act as  calculation  agent for the ETNs and hedge our  obligations  under the ETNs. You
   will not know how much you will  receive  upon  early  repurchase  at the time that you
   elect we repurchase your ETNs.
   The risks identified above are not exhaustive. You should also review carefully the related
   "Risk Factors" section of the relevant product supplement and the "Selected Risk
   Considerations" in the relevant pricing supplement.
                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including
a prospectus) with the SEC for any offerings to which these materials relate.
Before you invest, you should read the prospectus in that registration statement
and the other documents relating to this offering that JPMorgan Chase and Co.
has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting
EDGAR on the SEC Web site at www.sec.gov. Alternatively, JPMorgan Chase and Co.,
any agent or any dealer participating in this offering will arrange to send you
the prospectus and each prospectus supplement as well as any product supplement,
pricing supplement and term sheet if you so request by calling toll-free
800-576-3529.

To the extent there are any inconsistencies between this website and the
relevant pricing supplement, the relevant pricing supplement, including any
hyperlinked information, shall supersede this website.

Investment suitability must be determined individually for each investor. The
financial instruments described herein may not be suitable for all investors.
This information is not intended to provide and should not be relied upon as
providing accounting, legal, regulatory or tax advice. Investors should consult
their own advisors on these matters.

IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not
provide tax advice. Accordingly, any discussion of U.S. tax matters contained
herein (including any attachments) is not intended or written to be used, and
cannot be used, in connection with the promotion, marketing or recommendation by
anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address
herein or for the purpose of avoiding U.S. tax-related penalties. The tax
consequences of the ETNs are uncertain.

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p05b

JPMorgan Alerian MLP Index ETN

Overview    Performance     Underlying Index   Yield

Jump To: Disclaimer | Key Features | Footnote

JPMorgan Alerian MLP Index ETN

Alerian MLP Index Exchange Traded Notes ("ETNs") provide investors a convenient
way to gain exposure to midstream energy MLPs. The ETNs pay a Prospectus
variable quarterly coupon linked to the cash distributions paid on the MLPs in
the index, less accrued tracking fees1 . The ETN coupons are reported on Form
1099s and therefore eliminate the administrative burden associated with K-1
forms. Investors can trade the ETNs on the NYSE, Arca exchange or receive a cash
payment at the scheduled maturity or upon early repurchase 2 , based on the
performance of the index less accrued tracking fees and, if applicable, the
repurchase fee. The ETNs are senior, unsecured obligations of JPMorgan Chase and
Co.

[GRAPHIC OMITTED]

---------------------------------------------------------------------------------------------------------
Historical Coupon Amounts
 Sr. Declaration Date     Ex-Date        Record Date     Payment Date   Coupon Amount   Current Yield %4
                                                                             per
                                                                           Note $3
---------------------------------------------------------------------------------------------------------
 1   19 Aug 2011      24 Aug 2011      26 Aug 2011     06 Sep 2011         0.4845             5.6
 2   20 May 2011      25 May 2011      27 May 2011     07 Jun 2011         0.4865             5.3
 3   18 Feb 2011      25 Feb 2011      01 Mar 2011     09 Mar 2011         0.4440             4.6
 4   18 Nov 2010      24 Nov 2010      29 Nov 2010     07 Dec 2010         0.4522             5.0
 5   18 Aug 2010      25 Aug 2010      27 Aug 2010     07 Sep 2010         0.4509             5.5
 6   18 May 2010      26 May 2010      28 May 2010     08 Jun 2010         0.4481             6.0
 7   19 Feb 2010      25 Feb 2010      01 Mar 2010     09 Mar 2010         0.4428             6.0
 8   18 Nov 2009      25 Nov 2009      30 Nov 2009     08 Dec 2009         0.4431             6.7
 9   19 Aug 2009      26 Aug 2009      28 Aug 2009     08 Sep 2009         0.4361             7.3
 10  26 May 2009      27 May 2009      29 May 2009     08 Jun 2009         0.4507             8.2
---------------------------------------------------------------------------------------------------------

Footnote
1. The "Accrued Tracking Fee" for a given coupon period, as more fully described
in the relevant pricing supplement, represents an amount equal to the Tracking
Fee of 0.85% per annum accrued for that coupon period multiplied by the Current
Indicative Value on the Index Business Day prior to the date of determination,
plus the aggregate amounts, if any, by which the previous Accrued Tracking Fees
have exceeded the cash distributions, if any, made by the underlying MLPs.

2. Investors may request on a weekly basis that the Issuer repurchase a minimum
of 50,000 notes prior to the maturity date, subject to the procedures described
in the relevant pricing supplement. Early repurchases will be subject to a
Repurchase Fee of 0.125%, as further described in the relevant pricing
supplement.

3. The Coupon Amount per Note is as defined in the relevant pricing supplement
for the ETNs. The coupons are based on the cash
                                                                            p06a

distributions, if any, paid on the underlying MLPs, less the Accrued Tracking Fee.  The coupons are
variable and may be zero.

4. "Current Yield" equals the current Coupon Amount annualized and divided by the relevant
closing price of the Notes, rounded to one decimal place for ease of analysis. Except for the
coupon determined in May 2009, the relevant closing price is the closing price of the Notes
referenced in the coupon declaration press release issued for that coupon. For the coupon
determined in May 2009 the relevant closing price is the closing price of the Notes on the
trading day immediately preceding that Declaration Date.
                                                                                         Back to Top

Key Features

Main Risks:

  The ETNs may result in a loss.
  The ETNs are exposed to the credit risk of JPMorgan Chase and Co.
  The ETNs may not have an active trading market and may not continue to be listed over their term
  The payment at maturity or upon early repurchase of the ETNs will be based on the VWAP Level
  of the Index and not on the closing level of the Index. The VWAP Level of the Index will most
  likely differ from the closing level of the Index or the IIV.
  The coupon payments on the ETNs will be variable and may be zero. The Accrued Tracking Fee
  reduces the potential coupons and/or the payment at maturity or upon early repurchase.
  Potential conflicts: We and/or our affiliates act as calculation agent for the ETNs and
  hedge our obligations under the ETNs. The Issuer's obligation to repurchase the ETNs is
  on a weekly basis and is subject to substantial minimum size restrictions You will not
  know how much you will receive upon early repurchase at the time that you elect we
  repurchase your ETNs.
  The risks identified above are not exhaustive. You should also review carefully the related
  "Risk Factors" section of the relevant product supplement and the "Selected Risk
  Considerations" in the relevant pricing supplement.
                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in
this offering will arrange to send you the prospectus and each prospectus supplement as well as
any product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial instruments
described herein may not be suitable for all investors. This information is not intended to provide
and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors
should consult their own advisors on these matters.
IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is
not intended or written to be used, and cannot be used, in connection with the promotion,
marketing or recommendation by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters
address herein or for the purpose of avoiding U.S. tax-related penalties. The tax consequences of
the ETNs are uncertain.

"Alerian MLP Select Index, Alerian MLP Select Total Retrun Index, Alerian MLP Index and Alerian
MLP Total Return Index are trademarks of GKD Index partners, LLC and their use is granted under a
license from GKD Index partners, LLC".

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p06b

JPMorgan Double Short US 10 Year Treasury Futures ETN

Overview    Performance     Underlying Index

Jump To: Disclaimer | Key Features | Footnote                                           ACCESS AGREEMENT

The JPMorgan Double Short US 10 Year Treasury Futures ETNs ("ETNs") are designed
to provide investors a convenient way to implement and monetize a Fact Sheet
rising rates view at the medium part of the US Treasury curve. Subject to the
Prospectus resetting leverage, the investor fee and, if applicable, the
repurchase fee, this allows for the possibility to profit from an expectation of
rising interest rates. The ETNs are inversely linked to the performance of the
NYSE US 10 Year Treasury Futures Index (the "Index"). The Index seeks to
replicate the returns of maintaining a long position in the medium portion of
the US Treasury curve. The ETNs provide double inverse leveraged exposure to the
Index, from one reset date to the next and less Investor Fees and any repurchase
fee, so that you positively benefit from a fall in the price of the Index due to
a rise in prevailing yields. The Investor Fee is 0.85% per annum and is deducted
daily from the closing value of the ETN. The ETNs are senior, unsecured
obligations of JPMorgan Chase and Co. and are subject to optional and early
redemption at the discretion of JPMorgan Chase and Co. after one year.

[GRAPHIC OMITTED]

Please review the Footnotes for explanation of the identified terms above

--------------------------------------------------------------------------------------------------------

Returns, Standard Deviation and Correlation                                                   View Chart
--------------------------------------------------------------------------------------------------------
Underlying Index                    3 Month   1 Yr Return    3 Yr Return    Standard      Correlation
                                     Return                   Annualised    Deviation

NYSE US 10 Year Treasury Futures     6.12%      8.19%       Not Available     6.69%         1.00
SandP 500 Index                    -11.46%      1.03%       Not Available    19.37%        -0.43
SandP GSCI Index                    -7.68%      8.05%       Not Available    21.62%        -0.27
SandP/BGCantor U.S. Treasury Bond    4.27%      5.15%       Not Available     4.06%         0.96
Index
--------------------------------------------------------------------------------------------------------
Please review note 10 in the footnotes below

Footnote

1. The intraday indicative value of the ETNs (the "IIV") is meant to approximate the intrinsic
economic value of an ETN.  The IIV calculation will be provided for reference purposes only.
It is not intended as a price or quotation. The IIV will be based on the intraday indicative
values of the Index, and may not be equal to the payment at maturity or upon early repurchase.
Please see the relevant pricing supplement for details.

2. The Closing Price means the last trade reported as of the date shown above or the most recent
date a price was published.

3. The High Price means the highest trade reported on the date shown above or the most recent date a
price was published.

4. The Low Price means the lowest trade reported on the date shown above or the most recent date a
price was published.

5. The Closing Indicative Value of the ETNs means the last value reported for the intraday
indicative value of the ETNs. The intraday indicative value of the ETNs (the "IIV") is meant
to approximate the intrinsic economic value of an ETN. The IIV calculation will be provided
for reference purposes only. It is not inteneded as a price or quotation. The IIV will be
based on the intraday indictive values of the Index, and may not be equal to the payment at
maturity or upon early repurchase. Please see the relevant pricing supplement for details.

6. Current Volume means the number of the ETNs traded across all exchanges on the date shown
above.  The liquidity of the market for the ETNs may vary materially over time. This does not
include ETNs held by JPMorgan Chase and Co. or any of its affiliates.
                                                                            p07a

7. Average Volume (or Daily Average Trading Volume) means the average number of the ETNs traded
across all exchanges over the 3 -
month period ending on the date shown above. The liquidity of the market for the ETNs may vary
materially over time.

8. Market Capitalization means the product of (i) the Closing Price of the ETNs on the date shown
above and (ii) the total number of ETNs that have been issued, including any held by JPMorgan
Chase and Co. or one of its affiliates.

9.  Current Exposure Amount means the current dollar exposure of the ETNs to the Index, provided
as a positive number, as of the date of this report, as more fully described in the relevant
Pricing Supplement.

10. Sources: Reuters, JPMorgan. The values are calculated as of the date shown above. The returns
indicated reflect the percentage change over the specified period ending on the date shown above,
and are annualized where indicated. deviation and correlation are based on daily logarithmic
returns from August 11, 2010  to and including the date shown above. Compared to arithmetic
returns, logarithmic returns are lower for positive returns and have higher magnitude for negative
returns.  However, for small return calculations, such as the daily returns set forth in the charts
above, the difference is expected to be minimal.

The returns, standard deviations and correlations are provided for informational purposes only.
Correlation refers to correlation of the relevant index to the NYSE 10 Year Treasury Futures
Index. The returns do not include the Investor Fee, the repurchase fee or any transaction costs or
expenses. The data for the SandP 500 Index is price return and the data for the SandP GSCI Index and
the SandP/BG Cantor U.S. Treasury Index are total return. Historical performance of the Index is not
indicative of future performance of the Index or the ETNs. There is no guarantee that the Index or
the ETNs will outperform any investment strategy.

11. Sources: Reuters, JPMorgan. As of the date shown above. Each of these indices was calculated
based on a level for such index set equal to 100 on the date specified as the beginning of the
"custom time period" selected above. Historical performance of the Index is not indicative of
future performance of the Index or the ETNs. Fluctuations in the Index may be more or less than
that for the value of the ETNs. All returns displayed above reflect the index without deducting
the Investor Fee or any applicable transaction fees. The data for the SandP 500 Index is price
return and the data for the SandP/BG Cantor U.S. Treasury Index is based on a total return index
which reflects the performance of that index including the reinvestment of interest payments on
the debt securities which comprise the index.  The data for the SandP GSCI Index is also presented
as a total return index because
the index performance includes interest that could be earned on funds committed to the trading of
the futures contracts underlying that Index.  There is no guarantee that the Index or the ETNs
will outperform any alternative investment strategy.

                                                                     Back to Top

Key Features

Main Benefits:

  Benefits of the ETNs' leverage mechanism
  The ETNs employ a leverage reset mechanism that aims to reduce the frequency of leverage resets
  while maintaining the exposure of the ETNs to the underlying Index within a defined range. By
  resetting leverage only on predetermined dates, and when a leverage threshold of 180-220% is
  breached, the ETN seeks to provide leveraged exposure to the Index in a controlled manner. The
  ETN attempts to achieve this objective by monitoring its exposure daily and ensuring that if at
  anytime between two quarterly reset dates the exposure exceeds the stated 180-220% range, the ETN
  resets the next day back to an initial exposure of 200%. In addition, the ETN will reset the
  exposure back to 200% quarterly.
  The ETNs rebalance exposure to the Index on reset dates. Due to the compounding effect of the
  inverse leveraged performance of the Index, the cumulative percentage increase or decrease in
  the ETNs over a period longer than a reset period may diverge significantly in amount and
  possibly direction when compared to -200% of the cumulative percentage index performance over
  the same period.

Main Risks:

Risks associated with leverage and inverse leverage

  The ETNs provide inverse, short and leveraged exposure to the Index and are designed to be
  actively managed investments for sophisticated investors who understand leverage risk. Any
  positive performance of the Index will be inversely leveraged.
  If you hold the notes for longer than the period between any two consecutive Reset Dates, your
  percentage exposure will likely not be equal to -200% and may be greater in magnitude than
  -220% or less in magnitude than -180%.
  Due to the  compounding  of returns from one reset period to another,  the  performance  of the
  ETNs for periods longer than the period between two consecutive  Reset Dates will likely differ
  in amount and possibly  direction from the inverse  leveraged  performance of the Index for the
  same period.
  The occurrence of reset dates is based on the level of the current exposure, which is based on
  the index performance. During periods of high volatility in the index, additional reset dates
  may occur frequently and could occur daily. The reset goes into effect one-trading day after the
  reset exposure amount is determined.

Other risks associated with the ETNs

  The ETNs do not pay interest, may result in a loss and are exposed to the
  credit risk of JPMorgan Chase and Co. The investor fee and repurchase fee will
  reduce returns.
  We will automatically redeem the ETNs and you will receive no payment on any day on which
  the Closing Note Value is zero. Potential conflicts: We and/or our affiliates act as
  calculation agent for the ETNs and hedge our obligations under the ETNs. Investing in the
  ETNs is not equivalent to directly taking a short position in 10 Year Treasury futures
  contracts.
  The Index was established on August 11, 2010, has little operating history and may perform in
  unexpected ways.
  The cash payment you receive, if we elect to redeem the ETNs, may be less than the amount you
  might have received if you determined when to dispose of the ETNs.
  If the notes are redeemed before maturity, you might not be able to reinvest the proceeds in an
  investment with similar characteristics
  The Index is not diversified. The futures contracts in the Index may be volatile.
  The ETNs may not have an active trading market and may not continue to
  be listed over their term. The Issuer's obligation to repurchase the
  ETNs is subject to substantial minimum size restrictions.
  You will not know how much you will receive upon early repurchase at the time that you make a
  repurchase election.
  The risks identified above are not exhaustive. You should also review carefully the related
  "Risk Factors" section of the relevant product supplement and the "Selected Risk
  Considerations" in the relevant pricing supplement.
                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in
this offering will arrange to send you the prospectus and each prospectus supplement as well as
any product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial instruments
described herein may not be suitable for all investors. This information is not intended to provide
and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors
should consult their own advisors on these matters.
IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax
                                                                            p07b

matters contained herein (including any attachments) is not intended or written to be used, and
cannot be used, in connection with the promotion, marketing or recommendation by anyone
unaffiliated with JPMorgan Chase and Co. of any of the matters address herein or for the purpose of
avoiding U.S. tax-related penalties. The tax consequences of the ETNs are uncertain.

The NYSE US Long Bond Treasury Futures Index is a service mark of NYSE Euronext or its affiliates
("NYSE Euronext") and is intended to be licensed for use by J.P. Morgan Securities LLC in
connection with the notes. The notes are not sponsored, endorsed, sold or promoted by NYSE
Euronext. NYSE Euronext makes no representations or warranties regarding the notes or the ability
of the NYSE US Long Bond Treasury Futures Index or the NYSE US 10 Year Treasury Futures Tracker
Index to track general treasury futures market performance.

NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE US TREASURY 30 YEAR
FUTURES INDEX OR THE NYSE US 10 YEAR TREASURY FUTURES TRACKER INDEX OR ANY DATA INCLUDED THEREIN.
IN NO EVENT
SHALL NYSE EURONEXT HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

NEITHER SandP, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY,
TIMELINESS OR COMPLETENESS OF THE SandP 500R INDEX OR ANY DATA INCLUDED THEREIN OR ANY
COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC
COMMUNICATIONS) WITH RESPECT THERETO. SandP, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT
BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. SandP MAKES NO
EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE MARKS, THE SandP 500R INDEX OR ANY DATA INCLUDED
THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL SandP, ITS AFFILIATES OR
THEIR THIRD PARTY LICENSORS BE LIABLE FOR ANY INDIRECT,
SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF
PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of Standard and Poor's and have been
licensed for use by J.P. Morgan Securities LLC. This website is not sponsored, endorsed, sold
or promoted by SandP and SandP makes no representation regarding the advisability of purchasing any
of the ETNs.

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p07c

JPMorgan Double Short US 10 Year Treasury Futures ETN

Overview    Performance     Underlying Index

Jump To: Disclaimer | Key Features | Footnote

Summary | Analysis and Comparisons

[GRAPHIC OMITTED]

Footnote

1. Sources: Reuters, JPMorgan. As of the date shown above. The chart shows the
closing price of the ETN from the date specified as the beginning of the "custom
time period" selected above. The Closing Price means the last trade reported as
of the relevant date. There is no guarantee that the Index or the ETNs will
outperform any alternative investment strategy.

                                                                     Back to Top

Key Features

Main Risks:

Risks associated with leverage and inverse leverage

   The ETNs include inverse and leverage performance and are designed to be actively managed
   investments for sophisticated investors who understand leverage risk. Any positive
   performance of the Index will be inversely leveraged.
   If you hold the notes for longer than the period between any two consecutive Reset Dates,
   your percentage exposure will likely not be equal to -200% and may be greater in magnitude
   than -220% or less in magnitude than -180%.
   Due to the compounding of returns from one reset period to another,  the performance of the
   ETNs for periods  longer than the period  between two  consecutive  Reset Dates will likely
   differ in amount and  possibly  direction  from the inverse  leveraged  performance  of the
   Index for the same period.
   The occurrence of reset dates is based on the level of the current exposure, which is based
   on the index performance. During periods of high volatility in the index, additional reset
   dates may occur frequently and could occur daily. The reset goes into effect
   one-trading day after the reset exposure amount is determined.

Other risks associated with the ETNs

   The ETNs do not pay interest, may result in a loss and are exposed to the
   credit risk of JPMorgan Chase and Co. The investor fee and repurchase fee
   will reduce returns.
   We will automatically redeem the ETNs and you will receive no payment on any day on
   which the Closing Note Value is zero. Potential conflicts: We and/or our affiliates
   act as calculation agent for the ETNs and hedge our obligations under the ETNs.
   Investing in the ETNs is not equivalent to directly taking a short position in 30Y
   Treasury futures contracts.
   The Index was established on August 11, 2010, has little operating history and may perform in
   unexpected ways.
   The cash payment you receive, if we elect to redeem the ETNs, may be less than the amount you
   might have received if you determined when to dispose of the ETNs.
   If the notes are redeemed before maturity, you might not be able to reinvest the proceeds in an
   investment with similar characteristics
   The Index is not diversified. The futures contracts in the Index may be volatile.
   The ETNs may not have an active trading market and may not continue to be listed over their term.
                                                                            p08a

The Issuer's obligation to repurchase the ETNs is subject to substantial minimum size restrictions.
You will not know how much you will receive upon early repurchase at the time that you make a
repurchase election.
The risks identified above are not exhaustive. You should also review carefully the related
"Risk Factors" section of the relevant product supplement and the "Selected Risk Considerations"
in the relevant pricing supplement.
                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in
this offering will arrange to send you the prospectus and each prospectus supplement as well as any
product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial instruments
described herein may not be suitable for all investors. This information is not intended to provide
and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors
should consult their own advisors on these matters.
IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not
intended or written to be used, and cannot be used, in connection with the promotion, marketing or
recommendation by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address
herein or for the purpose of avoiding U.S. tax-related penalties. The tax consequences of the ETNs
are uncertain.

The NYSE US Long Bond Treasury Futures Index is a service mark of NYSE Euronext or its affiliates
("NYSE Euronext") and is intended to be licensed for use by J.P. Morgan Securities LLC in connection
with the notes. The notes are not sponsored, endorsed, sold or promoted by NYSE Euronext. NYSE
Euronext makes no representations or warranties regarding the notes or the ability of the NYSE US
Long Bond Treasury Futures Index or the NYSE US 10 Year Treasury Futures Tracker Index to track
general treasury futures market performance.

NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE US TREASURY 30 YEAR
FUTURES INDEX OR THE NYSE 10 YEAR TREASURY FUTURES TRACKER INDEX OR ANY DATA INCLUDED THEREIN. IN NO
EVENT SHALL NYSE EURONEXT HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

NEITHER SandP, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY,
TIMELINESS OR COMPLETENESS OF THE SandP 500 INDEX OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATIONS,
INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC COMMUNICATIONS)
WITH RESPECT THERETO. SandP, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT BE SUBJECT TO
ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. SandP MAKES NO EXPRESS OR IMPLIED
WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE OR USE WITH RESPECT TO THE MARKS, THE SandP 500? INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT
LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL SandP, ITS AFFILIATES OR THEIR THIRD PARTY
LICENSORS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES,
INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING
LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES,
WHETHER IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of Standard and Poor's and have been
licensed for use by J.P. Morgan Securities LLC. This website is not sponsored, endorsed, sold or
promoted by SandP and SandP makes no representation regarding the advisability of purchasing any of
the ETNs.

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p08b

JPMorgan Double Short US 10 Year Treasury Futures ETN

Overview    Performance     Underlying Index

Jump To: Disclaimer | Key Features | Footnote

NYSE US 10 Year Treasury Futures Index


The NYSE US 10 Year Treasury Futures Index (the "Index") is maintained and Fact
Sheet calculated by NYSE Arca, and aims to replicate the returns of maintaining
a Prospectus continuous rolling long position in CBOT U.S. Treasury Bond futures
contracts. The Index provides this exposure by referencing a series of CBOT US
Treasury bond futures contracts and quarterly rolling its exposure into new
contracts as the previous contact approaches expiration.

Index Performance

-----------------------------------------------------------------------------------------------
3 Month Return     1 Yr Return      3 Yr Return Annualised        Std. Deviation Annualised
   5.28%             7.99%              Not Available                     6.69%
-----------------------------------------------------------------------------------------------

[GRAPHIC OMITTED]

Footnote

1. Sources: Reuters, JPMorgan. The values are calculated as of the date shown above. The returns
indicated reflect the percentage change over the specified period ending on the date shown above,
and are annualized where indicated. deviation and correlation are based on daily logarithmic
returns from August 11, 2010  to and including the date shown above. Compared to arithmetic
returns, logarithmic returns are lower for positive returns and have higher magnitude for
negative returns.  However, for small return calculations, such as the daily returns set forth in
the charts above, the difference is expected to be minimal. The returns, standard deviations and
correlations are provided for informational purposes only. Correlation refers to correlation of
the relevant index to the NYSE 10 Year Treasury Futures Index. The returns do not include the
Investor Fee, the repurchase fee or any transaction costs or expenses. The data for the SandP 500
Index is price return and the data for the SandP GSCI Index and the SandP/BG Cantor U.S. Treasury
Index are total return. Historical performance of the Index is not indicative of future
performance of the Index or the ETNs. There is no guarantee that the Index or the ETNs will
outperform any investment strategy.

2. Sources: Reuters, JPMorgan. As of the date shown above. Each of these indices was calculated
based on a level for such index set equal to 100 on the date specified as the beginning of the
"custom time period" selected above. Historical performance of the Index is not indicative of
future performance of the Index or the ETNs. Fluctuations in the Index may be more or less than
that for the value of the ETNs. All returns displayed above reflect the index without deducting
the Investor Fee or any applicable transaction fees. The data for the SandP 500 Index is price
return and the data for the SandP GSCI Index and the SandP/BG Cantor U.S. Treasury Index are total
return. There is no guarantee that the Index or the ETNs will outperform any alternative
investment strategy.

                                                                     Back to Top

Key Features

Main Risks:

Risks associated with leverage and inverse leverage
                                                                            p09a

   The ETNs include inverse and leverage performance and are designed to be actively managed
   investments for sophisticated investors who understand leverage risk. Any positive performance of
   the Index will be inversely leveraged.
   If you hold the notes for longer than the period between any two consecutive Reset Dates, your
   percentage exposure will likely not be equal to -200% and may be greater in magnitude than -220%
   or less in magnitude than -180%.
   Due to the compounding of returns from one reset period to another, the performance of the ETNs
   for periods longer than the period between two consecutive Reset Dates will likely differ in
   amount and possibly direction from the inverse leveraged performance of the Index for the same
   period.
   The occurrence of reset dates is based on the level of the current exposure, which is based on
   the index performance. During periods of high volatility in the index, additional reset
   dates may occur frequently and could occur daily. The reset goes into effect one-trading day after
   the reset exposure amount is determined.

Other risks associated with the ETNs

   The ETNs do not pay interest, may result in a loss and are exposed to the
   credit risk of JPMorgan Chase and Co. The investor fee and repurchase fee will
   reduce returns.
   We will automatically redeem the ETNs and you will receive no payment on any day on
   which the Closing Note Value is zero. Potential conflicts: We and/or our affiliates act
   as calculation agent for the ETNs and hedge our obligations under the ETNs. Investing in
   the ETNs is not equivalent to directly taking a short position in 30Y Treasury futures
   contracts.
   The Index was established on August 11, 2010, has little operating history and may perform in
   unexpected ways.
   The cash payment you receive, if we elect to redeem the ETNs, may be less than the amount you
   might have received if you determined when to dispose of the ETNs.
   If the notes are redeemed before maturity, you might not be able to reinvest the proceeds in an
   investment with similar characteristics
   The Index is not diversified. The futures contracts in the Index may be volatile.
   The ETNs may not have an active trading market and may not continue
   to be listed over their term. The Issuer's obligation to repurchase
   the ETNs is subject to substantial minimum size restrictions.
   You will not know how much you will receive upon early repurchase at the time that you make a
   repurchase election.
   The risks identified above are not exhaustive. You should also review carefully the related
   "Risk Factors" section of the relevant product supplement and the "Selected Risk
   Considerations" in the relevant pricing supplement.
                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and Co.
and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in this
offering will arrange to send you the prospectus and each prospectus supplement as well as any
product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
Free Writing Prospectus Filed Pursuant to Rule 433 Registration Statement No. 333-155535
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial
instruments described herein may not be suitable for all investors. This information is not
intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax
advice. Investors should consult their own advisors on these matters.
IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not
intended or written to be used, and cannot be used, in connection with the promotion, marketing or
recommendation by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address herein
or for the purpose of avoiding U.S. tax-related penalties. The tax consequences of the ETNs are
uncertain.

The NYSE US Long Bond Treasury Futures Index is a service mark of NYSE Euronext or its affiliates
("NYSE Euronext") and is intended to be licensed for use by J.P. Morgan Securities LLC in
connection with the notes. The notes are not sponsored, endorsed, sold or promoted by NYSE Euronext.
NYSE Euronext makes no representations or warranties regarding the notes or the ability of the NYSE
US Long Bond Treasury Futures Index to track general treasury futures market performance.

NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE US TREASURY 30 YEAR
FUTURES INDEX OR THE NYSE US 10 YEAR TREASURY FUTURES TRACKER INDEX OR ANY DATA INCLUDED THEREIN. IN
NO EVENT SHALL NYSE EURONEXT HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR
CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

NEITHER SandP, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY,
TIMELINESS OR COMPLETENESS OF THE SandP 500? INDEX OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATIONS,
INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC COMMUNICATIONS)
WITH RESPECT THERETO. SandP, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT BE SUBJECT TO
ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. SandP MAKES NO EXPRESS OR IMPLIED
WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE OR USE WITH RESPECT TO THE MARKS,
THE SandP 500 INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT
WHATSOEVER SHALL SandP, ITS AFFILIATES OR THEIR THIRD PARTY LICENSORS BE LIABLE FOR ANY INDIRECT,
SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF
PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF
SUCH DAMAGES, WHETHER IN CONTRACT, TORT,
STRICT LIABILITY OR OTHERWISE.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of Standard and Poor's and have been
licensed for use by J.P. Morgan Securities LLC. This website is not sponsored, endorsed, sold
or promoted by SandP and SandP makes no representation regarding the advisability of purchasing
any of the ETNs.

                                                                     Back to Top
Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p09b

JPMorgan Double Short US Long Bond Treasury Futures ETN

Overview    Performance     Underlying Index

Jump To: Disclaimer | Key Features | Footnote                  ACCESS AGREEMENT

The JPMorgan Double Short US Long Bond Treasury Futures ETNs ("ETNs") are
designed to provide investors a convenient way to implement and monetize a Fact
Sheet rising rates view at the long end of the US Treasury curve. Subject to the
Prospectus resetting leverage, the investor fee and, if applicable, the
repurchase fee, this allows for the possibility to profit from an expectation of
rising interest rates. The ETNs are inversely linked to the performance of the
NYSE US Long Bond Treasury Futures Index (the "Index"). The Index seeks to
replicate the returns of maintaining a long position in the longer dated end of
the US Treasury curve. The ETNs provide double inverse leveraged exposure to the
Index, from one reset date to the next and less Investor Fees and any repurchase
fee, so that you positively benefit from a fall in the price of the Index due to
a rise in prevailing yields. The Investor Fees is 0.85% per annum and is
deducted daily from the closing value of the ETN. The ETNs are senior, unsecured
obligations of JPMorgan Chase and Co. and are subject to optional early
redemption at the discretion of JPMorgan Chase and Co. after one year.

[GRAPHIC OMITTED]

Please review the Footnotes for explanation of the identified terms above

----------------------------------------------------------------------------------------------------------
Returns, Standard Deviation and Correlation                                                   View Chart
----------------------------------------------------------------------------------------------------------
Underlying Index                  3 Month       1 Yr Return    3 Yr Return      Standard   Correlation
                                  Return                       Annualised       Deviation

NYSE US Long Bond Treasury Futures    15.50%      13.89%       Not Available     12.10%      1.00
Index
SandP 500 Index                      -11.46%       1.03%       Not Available     19.37%     -0.52
SandP GSCI Index                      -7.68%       8.05%       Not Available     21.62%     -0.33
SandP/BGCantor U.S. Treasury Bond      4.27%       5.15%       Not Available      4.06%      0.95
----------------------------------------------------------------------------------------------------------
Please review note 10 in the footnotes below

Footnote

1. The intraday indicative value of the ETNs (the "IIV") is meant to approximate the intrinsic
economic value of an ETN.  The IIV calculation will be provided for reference purposes only.
It is not intended as a price or quotation. The IIV will be based on the intraday indicative
values of the Index, and may not be equal to the payment at maturity or upon early repurchase.
Please see the relevant pricing supplement for details.

2. The Closing Price means the last trade reported as of the date shown above or the most recent
date a price was published.

3. The High Price means the highest trade reported on the date shown above or the most recent date a
price was published.

4. The Low Price means the lowest trade reported on the date shown above or the most recent date a
price was published.

5. The Closing Indicative Value of the ETNs means the last value reported for the intraday
indicative value of the ETNs. The intraday indicative value of the ETNs (the "IIV") is meant
to approximate the intrinsic economic value of an ETN. The IIV calculation will be provided
for reference purposes only. It is not inteneded as a price or quotation. The IIV will be
based on the intraday indictive values of the Index, and may not be equal to the payment at
maturity or upon early repurchase. Please see the relevant pricing supplement for details.

6. Current Volume means the number of the ETNs traded across all exchanges on the date shown
above.  The liquidity of the market for the ETNs may vary materially over time. This does not
include ETNs held by JPMorgan Chase and Co. or any of its affiliates.
                                                                            p10a

7. Average Volume (or Daily Average Trading Volume) means the average number of
the ETNs traded across all exchanges over the 3 - month period ending on the
date shown above. The liquidity of the market for the ETNs may vary materially
over time.

8. Market Capitalization means the product of (i) the Closing Price of the ETNs on the date shown
above and (ii) the total number of ETNs that have been issued, including any held by JPMorgan
Chase and Co. or one of its affiliates.

9.  Current Exposure Amount means the current dollar exposure of the ETNs to the Index, provided
as a positive number, as of the date of this report, as more fully described in the relevant
Pricing Supplement.

10. Sources: Reuters, JPMorgan. The values are calculated as of the date shown above. The returns
indicated reflect the percentage change over the specified period ending on the date shown above,
and are annualized where indicated. deviation and correlation are based on daily logarithmic
returns from August 11, 2010  to and including the date shown above. Compared to arithmetic
returns, logarithmic returns are lower for positive returns and have higher magnitude for negative
returns.  However, for small return calculations, such as the daily returns set forth in the charts
above, the difference is expected to be minimal.

The returns, standard deviations and correlations are provided for informational purposes only.
Correlation refers to correlation of the relevant index to the NYSE 10 Year Treasury Futures
Index. The returns do not include the Investor Fee, the repurchase fee or any transaction costs or
expenses. The data for the SandP 500 Index is price return and the data for the SandP GSCI Index and
the SandP/BG Cantor U.S. Treasury Index are total return. Historical performance of the Index is not
indicative of future performance of the Index or the ETNs. There is no guarantee that the Index or
the ETNs will outperform any investment strategy.

11. Sources: Reuters, JPMorgan. As of the date shown above. Each of these indices was calculated
based on a level for such index set equal to 100 on the date specified as the beginning of the
"custom time period" selected above. Historical performance of the Index is not indicative of
future performance of the Index or the ETNs. Fluctuations in the Index may be more or less than
that for the value of the ETNs. All returns displayed above reflect the index without deducting
the Investor Fee or any applicable transaction fees. The data for the SandP 500 Index is price
return and the data for the SandP/BG Cantor U.S. Treasury Index is based on a total return index
which reflects the performance of that index including the reinvestment of interest payments on
the debt securities which comprise the index.  The data for the SandP GSCI Index is also presented
as a total return index because
the index performance includes interest that could be earned on funds committed to the trading of
the futures contracts underlying that Index.  There is no guarantee that the Index or the ETNs
will outperform any alternative investment strategy.

                                                                     Back to Top

 Key Features

 Main Benefits:

   Benefits of the ETNs' leverage mechanism
   The ETNs employ a leverage reset mechanism that aims to reduce the frequency of leverage resets
   while maintaining the exposure of the ETNs to the underlying Index within a defined range. By
   resetting leverage only on predetermined dates, and when a leverage threshold of 180-220% is
   breached, the ETN seeks to provide leveraged exposure to the Index in a controlled manner. The
   ETN attempts to achieve this objective by monitoring its exposure daily and ensuring that if at
   anytime between two quarterly reset dates the exposure exceeds the stated 180-220% range, the ETN
   resets the next day back to an initial exposure of 200%. In addition, the ETN will reset the
   exposure back to 200% quarterly.
   The ETNs rebalance exposure to the Index on reset dates. Due to the compounding effect of the
   inverse leveraged performance of the Index, the cumulative percentage increase or decrease in
   the ETNs over a period longer than a reset period may diverge significantly in amount and
   possibly direction when compared to -200% of the cumulative percentage index performance over
   the same period.

 Main Risks:

 Risks associated with leverage and inverse leverage

   The ETNs provide inverse,short and leveraged exposure to the Index and are designed to be
   actively managed investments for sophisticated investors who understand leverage risk.
   Any positive performance of the Index will be inversely leveraged.
   If you hold the notes for longer than the period between any two consecutive Reset Dates, your
   percentage exposure will likely not be equal to -200% and may be greater in magnitude than
   -220% or less in magnitude than -180%.
   Due to the  compounding  of returns from one reset period to another,  the  performance  of the
   ETNs for periods longer than the period between two consecutive  Reset Dates will likely differ
   in amount and possibly  direction from the inverse  leveraged  performance of the Index for the
   same period.
   The occurrence of reset dates is based on the level of the current exposure, which is based on
   the index performance. During periods of high volatility in the index, additional reset dates
   may occur frequently and could occur daily. The reset goes into effect one-trading day after the
   reset exposure amount is determined.

 Other risks associated with the ETNs

   The ETNs do not pay interest, may result in a loss and are exposed to the
   credit risk of JPMorgan Chase and Co. The investor fee and repurchase fee will
   reduce returns.
   We will automatically redeem the ETNs and you will receive no payment on any day on which
   the Closing Note Value is zero. Potential conflicts: We and/or our affiliates act as
   calculation agent for the ETNs and hedge our obligations under the ETNs. Investing in the
   ETNs is not equivalent to directly taking a short position in 10 Year Treasury futures
   contracts.
   The Index was established on August 11, 2010, has little operating history and may perform in
   unexpected ways.
   The cash payment you receive, if we elect to redeem the ETNs, may be less than the amount you
   might have received if you determined when to dispose of the ETNs.
   If the notes are redeemed before maturity, you might not be able to reinvest the proceeds in an
   investment with similar characteristics
   The Index is not diversified. The futures contracts in the Index may be volatile.
   The ETNs may not have an active trading market and may not continue to
   be listed over their term. The Issuer's obligation to repurchase the
   ETNs is subject to substantial minimum size restrictions.
   You will not know how much you will receive upon early repurchase at the time that you make a
   repurchase election.
   The risks identified above are not exhaustive. You should also review carefully the related
   "Risk Factors" section of the relevant product supplement and the "Selected Risk
   Considerations" in the relevant pricing supplement.
                                                                                          Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in
this offering will arrange to send you the prospectus and each prospectus supplement as well as
any product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
Free Writing Prospectus Filed Pursuant to Rule 433 Registration Statement No. 333-155535
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial instruments
described herein may not be suitable for all investors. This information is not intended to provide
and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors
should consult their own advisors on these matters.
                                                                            p10b

IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is
not intended or written to be used, and cannot be used, in connection with the promotion,
marketing or recommendation by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters
address herein or for the purpose of avoiding U.S. tax-related penalties. The tax consequences of
the ETNs are uncertain.

The NYSE US Long Bond Treasury Futures Index is a service mark of NYSE Euronext or its affiliates
("NYSE Euronext") and is intended to be licensed for use by J.P. Morgan Securities LLC in
connection with the notes. The notes are not sponsored, endorsed, sold or promoted by NYSE
Euronext. NYSE Euronext makes no representations or warranties regarding the notes or the ability
of the NYSE US Long Bond Treasury Futures Index or the NYSE US 10 Year Treasury Futures Tracker
Index to track general treasury futures market performance.

NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE US TREASURY 30 YEAR
FUTURES INDEX OR THE NYSE 10 YEAR TREASURY FUTRURES TRACKER INDEX OR ANY DATA INCLUDED THEREIN. IN
NO EVENT SHALL NYSE EURONEXT HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR
CONSEQUENTIAL DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

NEITHER SandP, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY,
TIMELINESS OR COMPLETENESS OF THE SandP 500R INDEX OR ANY DATA INCLUDED THEREIN OR ANY
COMMUNICATIONS, INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC
COMMUNICATIONS) WITH RESPECT THERETO. SandP, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT
BE SUBJECT TO ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. SandP MAKES NO
EXPRESS OR IMPLIED WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR A PARTICULAR PURPOSE OR USE WITH RESPECT TO THE MARKS, THE SandP 500R INDEX OR ANY DATA INCLUDED
THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL SandP, ITS AFFILIATES OR
THEIR THIRD PARTY LICENSORS BE LIABLE FOR ANY INDIRECT,
SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF
PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGES, WHETHER IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of Standard and Poor's and have been
licensed for use by J.P. Morgan Securities LLC. This website is not sponsored, endorsed, sold
or promoted by SandP and SandP makes no representation regarding the advisability of purchasing any
of the ETNs.

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p10c

JPMorgan Double Short US Long Bond Treasury Futures ETN

Overview    Performance     Underlying Index

Jump To: Disclaimer | Key Features | Footnote

Summary | Analysis and Comparisons

[GRAPHIC OMITTED]

Footnote

1. Sources: Reuters, JPMorgan. As of the date shown above. The chart shows the
closing price of the ETN from the date specified as the beginning of the "custom
time period" selected above.
  The Closing Price means the last trade reported as of the relevant date.  There is no
 guarantee that the Index or the ETNs will outperform any alternative investment strategy.

                                                                     Back to Top

Key Features

Main Benefits:

   Benefits of the ETNs' Leverage Mechanism
   The ETNs employ a new leverage reset mechanism that aims to reduce the frequency of leverage
   resets while maintaining the exposure of the ETNs to the underlying Index within a defined
   range. By resetting leverage only on predetermined dates, and when a leverage threshold of
   180-220% is breached, the ETN seeks to provide leveraged exposure to the Index in a
   controlled manner. The ETN attempts to achieve this objective by monitoring its exposure
   daily and ensuring that if at anytime between two quarterly reset dates the exposure exceeds
   the stated 180-220% range, the ETN resets the next day back to an initial exposure of 200%.
   In addition, the ETN will reset the exposure back to 200% quarterly.
   The ETNs rebalance exposure to the Index on reset dates. Due to the compounding effect of
   the inverse leveraged performance of the Index, the cumulative percentage increase or
   decrease in the ETNs over a period longer than a reset period may diverge significantly in
   amount and possibly direction when compared to -200% of the cumulative percentage index
   performance over the same period.

Main Risks:

Risks associated with leverage and inverse leverage

   The ETNs include inverse and leverage performance and are designed to be actively managed
   investments for sophisticated investors who understand leverage risk. Any positive
   performance of the Index will be inversely leveraged.
   If you hold the notes for longer than the period between any two consecutive Reset Dates,
   your percentage exposure will likely not be equal to -200% and may be greater in magnitude
   than -220% or less in magnitude than -180%.
   Due to the compounding of returns from one reset period to another,  the performance of the
   ETNs for periods  longer than the period  between two  consecutive  Reset Dates will likely
   differ in amount and  possibly  direction  from the inverse  leveraged  performance  of the
   Index for the same period.
   The occurrence of reset dates is based on the level of the current exposure, which is based
   on the index performance. During periods of high volatility in the index, additional reset
   dates may occur frequently and could occur daily. The reset goes into effect
   one-trading day after the reset exposure amount is determined.
                                                                            p11a

Other risks associated with the ETNs

   The ETNs do not pay interest, may result in a loss and are exposed to the
   credit risk of JPMorgan Chase and Co. The investor fee and repurchase fee will
   reduce returns.
   We will automatically redeem the ETNs and you will receive no payment on any day on which
   the Closing Note Value is zero. Potential conflicts: We and/or our affiliates act as
   calculation agent for the ETNs and hedge our obligations under the ETNs. Investing in the
   ETNs is not equivalent to directly taking a short position in 30Y Treasury futures
   contracts.
   The Index was established on August 11, 2010, has little operating history and may perform in
   unexpected ways.
   The cash payment you receive, if we elect to redeem the ETNs, may be less than the amount you
   might have received if you determined when to dispose of the ETNs.
   If the notes are redeemed before maturity, you might not be able to reinvest the proceeds in an
   investment with similar characteristics
   The Index is not diversified. The futures contracts in the Index may be volatile.
   The ETNs may not have an active trading market and may not continue to
   be listed over their term. The Issuer's obligation to repurchase the
   ETNs is subject to substantial minimum size restrictions.
   You will not know how much you will receive upon early repurchase at the time that you make a
   repurchase election.
   The risks identified above are not exhaustive. You should also review carefully the related
   "Risk Factors" section of the relevant product supplement and the "Selected Risk Considerations"
   in the relevant pricing supplement.
                                                                     Back to Top

Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and
Co. and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web
site at www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in
this offering will arrange to send you the prospectus and each prospectus supplement as well as any
product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial instruments
described herein may not be suitable for all investors. This information is not intended to provide
and should not be relied upon as providing accounting, legal, regulatory or tax advice. Investors
should consult their own advisors on these matters.
IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not
intended or written to be used, and cannot be used, in connection with the promotion, marketing or
recommendation by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address
herein or for the purpose of avoiding U.S. tax-related penalties. The tax consequences of the ETNs
are uncertain.

The NYSE US Long Bond Treasury Futures Index is a service mark of NYSE Euronext or its affiliates
("NYSE Euronext") and is intended to be licensed for use by J.P. Morgan Securities LLC in connection
with the notes. The notes are not sponsored, endorsed, sold or promoted by NYSE Euronext. NYSE
Euronext makes no representations or warranties regarding the notes or the ability of the NYSE US
Long Bond Treasury Futures Index or the NYSE US 10 Year Treasury Futures Tracker Index to track
general treasury futures market performance.

NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL WARRANTIES
OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE US TREASURY 30 YEAR
FUTURES INDEX OR THE NYSE US 10 YEAR TREASURY FUTURES TRACKER INDEX OR ANY DATA INCLUDED THEREIN. IN
NO EVENT
SHALL NYSE EURONEXT HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL
DAMAGES (INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

NEITHER SandP, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY,
TIMELINESS OR COMPLETENESS OF THE SandP 500? INDEX OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATIONS,
INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC COMMUNICATIONS)
WITH RESPECT THERETO. SandP, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT BE SUBJECT TO
ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. SandP MAKES NO EXPRESS OR IMPLIED
WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE OR USE WITH RESPECT TO THE MARKS, THE SandP 500 INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT
LIMITING ANY OF THE FOREGOING, IN NO EVENT WHATSOEVER SHALL SandP, ITS AFFILIATES OR THEIR THIRD PARTY
LICENSORS BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES,
INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS, TRADING
LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES,
WHETHER IN CONTRACT, TORT, STRICT LIABILITY OR OTHERWISE.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of Standard and Poor's and have been
licensed for use by J.P. Morgan Securities LLC. This website is not sponsored, endorsed, sold or
promoted by SandP and SandP makes no representation regarding the advisability of purchasing any of
the ETNs.

                                                                     Back to Top

Copyright (c) 2011 JPMorgan Exchange Traded Notes | JPMorgan.com | Terms and Conditions
                                                                            p11b

JPMorgan Double Short US Long Bond Treasury Futures ETN

Overview    Performance     Underlying Index

Jump To: Disclaimer | Key Features | Footnote

NYSE US Long Bond Treasury Futures Index

The NYSE US Long Bond Treasury Futures Index (the "Index") is maintained Fact
Sheet and calculated by NYSE Arca, and aims to replicate the returns of
maintaining a Prospectus continuous rolling long position in CBOT U.S. Treasury
Bond futures contracts. The Index provides this exposure by referencing a series
of CBOT US Treasury bond futures contracts and quarterly rolling its exposure
into new contracts as the previous contact approaches expiration.

Index Performance
------------------------------------------------------------------------------------------------------
 3 Month Return        1 Yr Return         3 Yr Return Annualised        Std. Deviation Annualised
     13.89%              13.29%                 Not Available                    12.14%
------------------------------------------------------------------------------------------------------

[GRAPHIC OMITTED]

Footnote

1. Sources: Reuters, JPMorgan. The values are calculated as of the date shown above. The returns
indicated reflect the percentage change over the specified period ending on the date shown above,
and are annualized where indicated. deviation and correlation are based on daily logarithmic
returns from August 11, 2010  to and including the date shown above. Compared to arithmetic
returns, logarithmic returns are lower for positive returns and have higher magnitude for
negative returns.  However, for small return calculations, such as the daily returns set forth in
the charts above, the difference is expected to be minimal. The returns, standard deviations and
correlations are provided for informational purposes only. Correlation refers to correlation of
the relevant index to the NYSE 10 Year Treasury Futures Index. The returns do not include the
Investor Fee, the repurchase fee or any transaction costs or expenses. The data for the SandP 500
Index is price return and the data for the SandP GSCI Index and the SandP/BG Cantor U.S. Treasury
Index are total return. Historical performance of the Index is not indicative of future
performance of the Index or the ETNs. There is no guarantee that the Index or the ETNs will
outperform any investment strategy.

2. Sources: Reuters, JPMorgan. As of the date shown above. Each of these indices was calculated
based on a level for such index set equal to 100 on the date specified as the beginning of the
"custom time period" selected above. Historical performance of the Index is not indicative of
future performance of the Index or the ETNs. Fluctuations in the Index may be more or less than
that for the value of the ETNs. All returns displayed above reflect the index without deducting
the Investor Fee or any applicable transaction fees. The data for the SandP 500 Index is price
return and the data for the SandP GSCI Index and the SandP/BG Cantor U.S. Treasury Index are total
return. There is no guarantee that the Index or the ETNs will outperform any alternative
investment strategy.

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Key Features

Main Benefits:

   Benefits of the ETNs' Leverage Mechanism
   The ETNs employ a new leverage reset mechanism that aims to reduce the frequency of leverage resets
   while maintaining the exposure of
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    the ETNs to the underlying Index within a defined range. By resetting leverage only on
    predetermined dates, and when a leverage threshold of 180-220% is breached, the ETN seeks to
    provide leveraged exposure to the Index in a controlled manner. The ETN attempts to achieve this
    objective by monitoring its exposure daily and ensuring that if at anytime between two quarterly
    reset dates the exposure exceeds the stated 180-220% range, the ETN resets the next day back to an
    initial exposure of 200%. In addition, the ETN will reset the exposure back to 200% quarterly.
    The ETNs rebalance exposure to the Index on reset dates. Due to the compounding effect of the
    inverse leveraged performance of the Index, the cumulative percentage increase or decrease in
    the ETNs over a period longer than a reset period may diverge significantly in amount and
    possibly direction when compared to -200% of the cumulative percentage index performance over
    the same period.

 Main Risks:

 Risks associated with leverage and inverse leverage

    The ETNs include inverse and leverage performance and are designed to be actively managed
    investments for sophisticated investors who understand leverage risk. Any positive performance of
    the Index will be inversely leveraged.
    If you hold the notes for longer than the period between any two consecutive Reset Dates, your
    percentage exposure will likely not be equal to -200% and may be greater in magnitude than -220%
    or less in magnitude than -180%.
    Due to the compounding of returns from one reset period to another, the performance of the ETNs
    for periods longer than the period between two consecutive Reset Dates will likely differ in
    amount and possibly direction from the inverse leveraged performance of the Index for the same
    period.
    The occurrence of reset dates is based on the level of the current exposure, which is based on
    the index performance. During periods of high volatility in the index, additional reset
    dates may occur frequently and could occur daily. The reset goes into effect one-trading day after
    the reset exposure amount is determined.

 Other risks associated with the ETNs

    The ETNs do not pay interest, may result in a loss and are exposed to the
    credit risk of JPMorgan Chase and Co. The investor fee and repurchase fee will
    reduce returns.
    We will automatically redeem the ETNs and you will receive no payment on any day on
    which the Closing Note Value is zero. Potential conflicts: We and/or our affiliates act
    as calculation agent for the ETNs and hedge our obligations under the ETNs. Investing in
    the ETNs is not equivalent to directly taking a short position in 30Y Treasury futures
    contracts.
    The Index was established on August 11, 2010, has little operating history and may perform in
    unexpected ways.
    The cash payment you receive, if we elect to redeem the ETNs, may be less than the amount you
    might have received if you determined when to dispose of the ETNs.
    If the notes are redeemed before maturity, you might not be able to reinvest the proceeds in an
    investment with similar characteristics
    The Index is not diversified. The futures contracts in the Index may be volatile.
    The ETNs may not have an active trading market and may not continue
    to be listed over their term. The Issuer's obligation to repurchase
    the ETNs is subject to substantial minimum size restrictions.
    You will not know how much you will receive upon early repurchase at the time that you make a
    repurchase election.
    The risks identified above are not exhaustive. You should also review carefully the related
    "Risk Factors" section of the relevant product supplement and the "Selected Risk
    Considerations" in the relevant pricing supplement.
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Disclaimer

SEC Legend: JPMorgan Chase and Co. has filed a registration statement (including a prospectus) with
the SEC for any offerings to which these materials relate. Before you invest, you should read the
prospectus in that registration statement and the other documents relating to this offering that
JPMorgan Chase and Co. has filed with the SEC for more complete information about JPMorgan Chase and Co.
and this offering. You may get these documents without cost by visiting EDGAR on the SEC Web site at
www.sec.gov. Alternatively, JPMorgan Chase and Co., any agent or any dealer participating in this
offering will arrange to send you the prospectus and each prospectus supplement as well as any
product supplement, pricing supplement and term sheet if you so request by calling toll -free
800-576-3529.
Free Writing Prospectus Filed Pursuant to Rule 433 Registration Statement No. 333-155535
To the extent there are any inconsistencies between this website and the relevant pricing
supplement, the relevant pricing supplement, including any hyperlinked information, shall
supersede this website.
Investment suitability must be determined individually for each investor. The financial
instruments described herein may not be suitable for all investors. This information is not
intended to provide and should not be relied upon as providing accounting, legal, regulatory or tax
advice. Investors should consult their own advisors on these matters.
IRS Circular 230 Disclosure: JPMorgan Chase and Co. and its affiliates do not provide tax advice.
Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not
intended or written to be used, and cannot be used, in connection with the promotion, marketing or
recommendation by anyone unaffiliated with JPMorgan Chase and Co. of any of the matters address herein
or for the purpose of avoiding U.S. tax-related penalties. The tax consequences of the ETNs are
uncertain.

The NYSE US Long Bond Treasury Futures Index is a service mark of NYSE Euronext or its affiliates
("NYSE Euronext") and is intended to be licensed for use by J.P. Morgan Securities LLC in
connection with the notes. The notes are not sponsored, endorsed, sold or promoted by NYSE Euronext.
NYSE Euronext makes no representations or warranties regarding the notes or the ability of the NYSE
US Long Bond Treasury Futures Index or the NYSE US 10 Year Treasury Futures Tracker Index to track
general treasury futures market performance.

NYSE EURONEXT MAKES NO EXPRESS OR IMPLIED WARRANTIES, AND HEREBY EXPRESSLY DISCLAIMS ALL
WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE WITH RESPECT TO THE NYSE US
TREASURY 30 YEAR FUTURES INDEX OR THE NYSE US 10 YEAR TREASURY FUTURES TRACKER INDEX ANY DATA
INCLUDED THEREIN. IN NO EVENT SHALL
NYSE EURONEXT HAVE ANY LIABILITY FOR ANY SPECIAL, PUNITIVE, INDIRECT, OR CONSEQUENTIAL DAMAGES
(INCLUDING LOST PROFITS), EVEN IF NOTIFIED OF THE POSSIBILITY OF SUCH DAMAGES.

NEITHER SandP, ITS AFFILIATES NOR THEIR THIRD PARTY LICENSORS GUARANTEE THE ADEQUACY, ACCURACY,
TIMELINESS OR COMPLETENESS OF THE SandP 500 INDEX OR ANY DATA INCLUDED THEREIN OR ANY COMMUNICATIONS,
INCLUDING BUT NOT LIMITED TO, ORAL OR WRITTEN COMMUNICATIONS (INCLUDING ELECTRONIC COMMUNICATIONS)
WITH RESPECT THERETO. SandP, ITS AFFILIATES AND THEIR THIRD PARTY LICENSORS SHALL NOT BE SUBJECT TO
ANY DAMAGES OR LIABILITY FOR ANY ERRORS, OMISSIONS OR DELAYS THEREIN. SandP MAKES NO EXPRESS OR IMPLIED
WARRANTIES, AND EXPRESSLY DISCLAIMS ALL WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR
PURPOSE OR USE WITH RESPECT TO THE MARKS,
THE SandP 500 INDEX OR ANY DATA INCLUDED THEREIN. WITHOUT LIMITING ANY OF THE FOREGOING, IN NO EVENT
WHATSOEVER SHALL SandP, ITS AFFILIATES OR THEIR THIRD PARTY LICENSORS BE LIABLE FOR ANY INDIRECT,
SPECIAL, INCIDENTAL, PUNITIVE OR CONSEQUENTIAL DAMAGES, INCLUDING BUT NOT LIMITED TO, LOSS OF
PROFITS, TRADING LOSSES, LOST TIME OR GOODWILL, EVEN IF THEY HAVE BEEN ADVISED OF THE POSSIBILITY OF
SUCH DAMAGES, WHETHER IN CONTRACT, TORT,
STRICT LIABILITY OR OTHERWISE.

"Standard and Poor's," "SandP" and "SandP 500" are trademarks of Standard and Poor's and have been
licensed for use by J.P. Morgan Securities LLC. This website is not sponsored, endorsed, sold
or promoted by SandP and SandP makes no representation regarding the advisability of purchasing
any of the ETNs.
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