North America Structured Investments 12m Auto Callable Fixed Interest Notes Linked to SPX/RTY The following is a summary of the terms of the notes offered by the preliminary pricing supplement highlighted below. Summary of Terms Issuer: JPMorgan Chase Financial Company LLC. Guarantor: JPMorgan Chase & Co. Minimum Denomination: $1,000.00 Underlyings : S&P 500 Index and Russell 2000 Index Hypothetical Returns** Payment at Maturity (7.00% per annumFixed Interest Rate) Payment at Maturity Pricing Date: May 25, 2016 Final Review Date: May 25, 2017 Maturity Date: May 31, 2017 Monitoring Period: The period from, but excluding, the Pricing Date to and including the final Review Date Review Dates: Quarterly Fixed Interest Rate: [7.00% - 9.00%]* per annum, paid quarterly at a rate of between 0.58333% and 0.75%* per month, if applicable Trigger Level: With respect to each Underlying, an amount that represents 70% of its Initial Underlying Level. Trigger Event A Trigger Event occurs if, on any day during the Monitoring Period, the Underlying closing level of either Underlying is less than its Trigger Level. CUSIP: 46646EAQ5 Least Performing If a Trigger Event If a Trigger Event Underlying Return Has Not Occurred Has Occurred 60.00% $1,005.83 $1,005.83 40.00% $1,005.83 $1,005.83 20.00% $1,005.83 $1,005.83 5.00% $1,005.83 $1,005.83 Preliminary Pricing 0.00% $1,005.83 $1,005.83 Supplement: http://sp.jpmorgan.com/document/cusip/46646EAQ5/doctype/Product_Termsheet/document.pdf For more information about the estimated value of the notes, which likely will be lower than the price you paid for the notes, please see the hyperlink above. -5.00% $1,005.83 $955.83 Automatic Call If on any Review Date (other than the final Review Date) the closing level or closing price, as applicable, of each Underlying is greater than orequal to its level or price on the Pricing Date, the Notes will be automatically called and you will receive a cash payment for each $1,000 principal amount note, equal to (a)$1,000 plus (b) the contingent interest payment applicable to that Review Date. -20.00% $1,005.83 $805.83 -30.00% $1,005.83 $705.83 -30.01% N/A $705.82 Payment at Maturity -60.00% N/A $405.83 If the notes have not been automatically called and (i) the Ending Underlying Value of each Underlying is greater than or equal to its InitialUnderlying Value or (ii) a Trigger Event has not occurred, you will receive a cash payment at maturity, for each $1,000 principal amount note,equal to (a)$1,000 plus (b) the Interest Payment applicable to the final Review Date. If the notes have not been automatically called and (i) the Ending Underlying Value of either Underlying is less than its Initial Underlying Valueand (ii) a Trigger Event has occurred, at maturity you will lose 1% of the principal amount of your notes for every 1% that the Ending UnderlyingValue of the Lesser Performing Underlying is less than its Initial Underlying Value, subject to any Interest Payment payable at maturity. Underthese circumstances, your payment at maturity per $1,000 principal amount note, in addition to any Interest Payment, will be calculated as follows: $1,000 + ($1,000 × Lesser Performing Underlying Return) Capitalized terms used but not defined herein shall have the meanings set forth in the preliminary pricing supplement Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC, as issuer of the notes and the credit risk ofJPMorgan Chase & Co., as guarantor of the notes. -80.00% N/A $205.83 This table does not demonstrate how your coupon payments can varyover the term of your securities. Contingent Interest *If the notes have not been called, you will receive on the applicableInterest Payment Date for each $1,000 principal amount note an InterestPayment equal to between $5 .83 and $7.50 (equivalent to an interestrate of between 7.00% and 9.00% per annum, payable at a rate ofbetween 0.58333% and 0.75% per month). **The hypothetical returns and hypothetical interest payments on thenotes shown above apply only if you hold the notes for their entire termor until automatically called. These hypotheticals do not reflect fees orexpenses that would be associated with any sale in the secondary market. If these fees and expenses were included, the hypotheticalreturns and hypothetical interest payments shown above would likely belower. J.P. Morgan Structured Investments | 1 800 576 3529 | jpm_structured_investments@jpmorgan.com