FOR INSTITUTIONAL & PROFESSIONAL CLIENTS ONLY – This material is from a Sales and Trading department and is not a product of the Research Department.
This material has been prepared by personnel in the Sales and Trading Departments of one or more affiliates of JPMorgan Chase & Co. (together, “J.P. Morgan”) and is not a product of J.P. Morgan’s Research Department. It is not a research report and is not intended as such. It is for distribution to institutional and professional clients only and is not intended for retail customer use.
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This material is provided for information purposes only and does not bind J.P. Morgan in any way. It is not intended as a recommendation or an offer or solicitation (except to the extent covered by CFTC Rules) for the purchase or sale of any security or financial instrument, or to enter into a transaction involving any financial instrument or trading strategy, or as an official confirmation or official valuation of any transaction mentioned herein. Any pricing information provided is indicative only and does not reflect a level where J.P. Morgan is prepared to execute a trade. J.P. Morgan is not an advisor. Nothing in this material should be construed as investment, tax, legal, accounting, regulatory or other advice (including within the meaning of Section 15B of the Securities Exchange Act of 1934) or as creating a fiduciary relationship.
Derivatives Disclosure: Where distribution of this material is subject to the rules of the U.S. Commodity Futures Trading Commission (“CFTC”), it is a “solicitation” of derivatives business generally only as that term is used within CFTC Rule 1.71 and 23.605 promulgated under the U.S. Commodity Exchange Act (the “CFTC Rules”).
Structured securities, options, futures and other derivatives are complex instruments and may involve a high degree of risk. For further information on the risks involved with various option strategies, please consult the Options Clearing Corporations Characteristics and Risks of Standardized Options before entering into any such transaction. The document can be viewed at: http://www.theocc.com/about/publications/character-risks.jsp
Exchange Traded Fund (“ETF”) Disclosure: Each U.S. registered ETF has filed a registration statement (including a prospectus) with the U.S. Securities and Exchange Commission. No offer or sale of the ETFs described may be made except pursuant to the prospectus. The ETF’s prospectus is available through the ETF issuer’s website, you should read this carefully before deciding to invest.
Transactions involving securities, financial instruments and strategies mentioned herein may not be suitable for all investors. You are solely responsible for deciding whether any investment or transaction is suitable for you based upon your investment goals, financial situation and tolerance for risk. If you deem it necessary, you must seek independent professional advice to ascertain the investment, legal, tax, accounting, regulatory or other consequences before investing or transacting.
Past or simulated past performance (including back-testing) is not indicative of future results. The investments discussed may fluctuate in price or value. Changes in rates of exchange may have an adverse effect on the value of investments. Any modeling, scenario analysis or other forward-looking information herein (such as projected cashflows, yields or returns) is intended to illustrate hypothetical results based on certain assumptions (not all of which will be specified herein). Actual events or conditions may differ materially from those assumed; therefore, actual results are not guaranteed.
All market prices, data and other information (including that which may be derived from third party sources believed to be reliable) are not warranted as to completeness or accuracy and are subject to change without notice. J.P. Morgan disclaims any responsibility or liability to the fullest extent permitted by applicable law, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. The information contained herein is as of the date and time referenced only, and J.P. Morgan does not undertake any obligation to update such information.
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Securities, financial instruments or strategies mentioned herein may not be eligible for sale in all jurisdictions. Clients should contact their salespersons at, and execute transactions through, a J.P. Morgan entity qualified in their home jurisdiction unless governing law permits otherwise.
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