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 not by J.P. Morgan’s Research Department and therefore, has not been prepared in accordance with legal requirements to promote the independence of research, including but not limited to, the prohibition on the dealing ahead of the dissemination of investment research. 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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Analytics Disclosure: Past or simulated past performance is not indicative of future results. Any modelling scenario analysis or other forward-looking information herein is intended to illustrate hypothetical results based on certain assumptions, information and/or financial data (not all of which will be specified herein). J.P. Morgan does not guarantee expressly or impliedly the accuracy or completeness of any information and/or financial data used herein. Further, the information and/or financial data used by JPM may not be representative of all information and/or financial data available to J.P. Morgan. The information and/or financial data available herein may change at any time without notice to you. Actual events or conditions may differ materially from those assumed; therefore, actual results are not guaranteed and J.P. Morgan disclaims any responsibility or liability whatsoever for the quality, accuracy or completeness of the information herein, and for any reliance on, or use of this material in any way. The actual results you see will be based on a number of assumption not all of which will be explicitly disclosed to you.
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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 modelling, 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.
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Country Specific Disclosures
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