Cryptoasset Disclosure

Links to regulatory advisories on cryptoassets (including virtual currencies, cryptocurrencies, etc.) are provided below. These regulatory advisories warn that cryptoassets, including bitcoin and ether, may be susceptible to fraud, involve a high level of risk, and may experience significant price volatility, which may also adversely impact the price of swaps, security-based swaps, equity options, futures, options on futures, and OTC derivatives that reference or are based on the price or performance of the cryptoasset (“Crypto-linked Derivatives”). You should be aware that the market for the underlying cryptoassets referenced in Crypto-linked Derivatives may not be regulated, and may not be subject to registration, fitness, market integrity, anti-fraud, anti-manipulation, cybersecurity, surveillance, or anti-money laundering rules in all jurisdictions in which the cryptoassets are offered or traded. Before entering into any Crypto-linked Derivatives transactions, please ensure that you have read and understood the following information and the advisories available at the links below.

The below is not an exhaustive list of all regulatory advisories on cryptoassets. The advisories referenced below (and the links thereto) have not been verified for accuracy or completeness by JPMorgan Chase & Co. or by any of its subsidiaries, affiliates, successors, assigns, agents, or by any of their respective officers, directors, employees, agents or advisers (collectively, “J.P. Morgan”). J.P. Morgan disclaims all representations and warranties in the information contained in this disclosure (which includes these advisories), whether express or implied, including, without limitation, any warranty of satisfactory quality, completeness, accuracy, fitness for a particular purpose or non-infringement. J.P. Morgan disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for the quality, accuracy or completeness of, the information contained therein, and for any reliance on, or uses to which, this information is put, and you are solely responsible for any use to which you put such information. Without limiting any of the foregoing, to the fullest extent permitted by applicable law, in no event shall J.P. Morgan have any liability for any special, punitive, indirect, or consequential damages (including lost profits or lost opportunity), in connection with the information contained in this disclosure materials, even if notified of the possibility of such damages. You will make your own independent decision how to use any information contained in this disclosure, based on your own judgement and advice from advisers as you deem necessary. J.P. Morgan has no obligation to update any portion of this disclosure, including the links to the advisories provided below. This disclosure is not intended as a recommendation or an offer or solicitation for the purchase or sale of any security or financial instrument, or to enter into a transaction involving any such security or financial instrument, including Crypto-linked Derivatives transactions or any trading strategy.  J.P. Morgan is not an advisor.  Nothing in this disclosure 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.

Links to Select Regulatory Advisories on Cryptoassets:

• NFA Investor Advisory - Futures on Virtual Currencies Including Bitcoin
• CFTC Customer Advisory - Understanding the Risks of Virtual Currency Trading
• CFTC Customer Advisory - Beware Virtual Currency Pump-and-Dump Schemes
• FINRA Investor Alert - Bitcoin: More than a Bit Risky
• SEC Investor Alert - Bitcoin and other Virtual Currency-related Investments
• FCA alert - warning on cryptoassets
• FCA alert - cryptoasset investment scams