Key Risks

This materials is for informational functions solely, and will inform you of sure services provided by J.P. Morgan’s wealth administration companies, a part of JPMorgan Chase & Co. (“JPM”). Products and providers described, in addition to related charges, prices and rates of interest, are topic to vary in accordance with the relevant account agreements and will differ amongst geographic places. Not all services are provided in any respect places. J.P. Morgan is dedicated to creating our services accessible to satisfy the monetary providers wants of all our shoppers.  If you’re a individual with a incapacity and want extra assist, please contact your J.P. Morgan crew or electronic mail us at accessibility.support@jpmorgan.com for help. Please learn all Important Information.

General Risks & Considerations

Any views, methods or merchandise mentioned on this materials might not be applicable for all people and are topic to dangers. Investors might get again lower than they invested, and previous efficiency isn’t a dependable indicator of future outcomes. Asset allocation/diversification doesn’t assure a revenue or shield towards loss. Nothing on this materials ought to be relied upon in isolation for the aim of investing resolution. You are urged to contemplate fastidiously whether or not the providers, merchandise, asset courses (e.g., equities, mounted revenue, various investments, commodities, and many others.) or methods mentioned are appropriate to your wants. You should additionally take into account the targets, dangers, prices and bills related to an funding service, product or technique previous to investing resolution. For this and extra full info, together with dialogue of your targets/scenario, contact your J.P. Morgan crew.

Non-Reliance

Certain info contained on this materials is believed to be dependable; nonetheless, JPM doesn’t symbolize or warrant its accuracy, reliability or completeness, or settle for any legal responsibility for any loss or injury (whether or not direct or oblique) arising out of using all or any a part of this materials. No illustration or guarantee ought to be made with regard to any computations, graphs, tables, diagrams or commentary on this materials, that are offered for illustration/reference functions solely. The views, opinions, estimates and techniques expressed on this materials represent our judgment primarily based on present market circumstances and are topic to vary with out discover. JPM assumes no responsibility to replace any info on this materials within the occasion that such info adjustments. Views, opinions, estimates and techniques expressed herein might differ from these expressed by different areas of JPM, views expressed for different functions or in different contexts, and this materials shouldn’t be considered a analysis report. Any projected outcomes and dangers are primarily based solely on hypothetical examples cited, and precise outcomes and dangers will range relying on particular circumstances. Forward-looking statements shouldn’t be thought of as ensures or predictions of future occasions.

Nothing on this doc shall be construed as giving rise to any responsibility of care owed to, or advisory relationship with, you or any third occasion. Nothing on this doc shall be considered a suggestion, solicitation, suggestion or recommendation (whether or not monetary, accounting, authorized, tax or different) given by J.P. Morgan and/or its officers or workers, regardless of whether or not or not such communication was given at your request. J.P. Morgan and its associates and workers don’t present tax, authorized or accounting recommendation. You ought to seek the advice of your individual tax, authorized and accounting advisors earlier than participating in any monetary transactions.

IMPORTANT INFORMATION ABOUT YOUR INVESTMENTS AND POTENTIAL CONFLICTS OF INTEREST

Conflicts of curiosity will come up each time JPMorgan Chase Bank, N.A. or any of its associates (collectively, “J.P. Morgan”) have an precise or perceived financial or different incentive in its administration of our shoppers’ portfolios to behave in a approach that advantages J.P. Morgan. Conflicts will end result, for instance (to the extent the next actions are permitted in your account): (1) when J.P. Morgan invests in an funding product, equivalent to a mutual fund, structured product, individually managed account or hedge fund issued or managed by JPMorgan Chase Bank, N.A. or an affiliate, equivalent to J.P. Morgan Investment Management Inc.; (2) when a J.P. Morgan entity obtains providers, together with commerce execution and commerce clearing, from an affiliate; (3) when J.P. Morgan receives fee on account of buying an funding product for a shopper’s account; or (4) when J.P. Morgan receives fee for offering providers (together with shareholder servicing, recordkeeping or custody) with respect to funding merchandise bought for a shopper’s portfolio. Other conflicts will end result due to relationships that J.P. Morgan has with different shoppers or when J.P. Morgan acts for its personal account.

Investment methods are chosen from each J.P. Morgan and third-party asset managers and are topic to a evaluation course of by our supervisor analysis groups. From this pool of methods, our portfolio building groups choose these methods we consider match our asset allocation targets and forward-looking views so as to meet the portfolio’s funding goal.

As a common matter, we desire J.P. Morgan managed methods. We anticipate the proportion of J.P. Morgan managed methods shall be excessive (the truth is, as much as 100%) in methods equivalent to, for instance, money and high-quality mounted revenue, topic to relevant regulation and any account-specific concerns.

While our internally managed methods typically align properly with our forward-looking views, and we’re conversant in the funding processes in addition to the chance and compliance philosophy of the agency, you will need to be aware that J.P. Morgan receives extra total charges when internally managed methods are included. We provide the choice of selecting to exclude J.P. Morgan managed methods (aside from money and liquidity merchandise) in sure portfolios.

The Six Circles Funds are U.S.-registered mutual funds managed by J.P. Morgan and sub-advised by third events. Although thought of internally managed methods, JPMC doesn’t retain a payment for fund administration or different fund providers.

Legal Entity, Brand & Regulatory Information

In the United States, financial institution deposit accounts and associated providers, equivalent to checking, financial savings and financial institution lending, are provided by JPMorgan Chase Bank, N.A. Member FDIC.

JPMorgan Chase Bank, N.A. and its associates (collectively “JPMCB”) provide funding merchandise, which can embody bank-managed funding accounts and custody, as a part of its belief and fiduciary providers. Other funding services, equivalent to brokerage and advisory accounts, are provided by J.P. Morgan Securities LLC (“JPMS”), a member of FINRA and SIPC. Annuities are made obtainable by Chase Insurance Agency, Inc. (CIA), a licensed insurance coverage company, doing enterprise as Chase Insurance Agency Services, Inc. in Florida. JPMCB and JPMS and CIA are affiliated firms beneath the widespread management of JPM. Products not obtainable in all states.

In Germany, this materials is issued by J.P. Morgan SE, with its registered workplace at Taunustor 1 (TaunusTurm), 60310 Frankfurt am Main, Germany, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB). In Luxembourg, this materials is issued by J.P. Morgan SE—Luxembourg Branch, with registered workplace at European Bank and Business Centre, 6 route de Treves, L-2633, Senningerberg, Luxembourg, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE—Luxembourg Branch can be supervised by the Commission de Surveillance du Secteur Financier (CSSF); registered beneath R.C.S Luxembourg B255938. In the United Kingdom, this materials is issued by J.P. Morgan SE—London Branch, registered workplace at 25 Bank Street, Canary Wharf, London E14 5JP, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE—London Branch can be supervised by the Financial Conduct Authority and Prudential Regulation Authority. In Spain, this materials is distributed by J.P. Morgan SE, Sucursal en España, with registered workplace at Paseo de la Castellana, 31, 28046 Madrid, Spain, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE, Sucursal en España can be supervised by the Spanish Securities Market Commission (CNMV); registered with Bank of Spain as a department of J.P. Morgan SE beneath code 1567. In Italy, this materials is distributed by J.P. Morgan SE—Milan Branch, with its registered workplace at Via Cordusio, n.3, Milan 20123, Italy, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE—Milan Branch can be supervised by Bank of Italy and the Commissione Nazionale per le Società e la Borsa (CONSOB); registered with Bank of Italy as a department of J.P. Morgan SE beneath code 8076; Milan Chamber of Commerce Registered Number: REA MI 2536325. In the Netherlands, this materials is distributed by J.P. Morgan SE—Amsterdam Branch, with registered workplace at World Trade Centre, Tower B, Strawinskylaan 1135, 1077 XX, Amsterdam, The Netherlands, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE—Amsterdam Branch can be supervised by De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM) within the Netherlands. Registered with the Kamer van Koophandel as a department of J.P. Morgan SE beneath registration quantity 72610220. In Denmark, this materials is distributed by J.P. Morgan SE—Copenhagen Branch, filial af J.P. Morgan SE, Tyskland, with registered workplace at Kalvebod Brygge 39-41, 1560 København V, Denmark, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE—Copenhagen Branch, filial af J.P. Morgan SE, Tyskland can be supervised by Finanstilsynet (Danish FSA) and is registered with Finanstilsynet as a department of J.P. Morgan SE beneath code 29010. In Sweden, this materials is distributed by J.P. Morgan SE—Stockholm Bankfilial, with registered workplace at Hamngatan 15, Stockholm, 11147, Sweden, approved by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and collectively supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE—Stockholm Bankfilial can be supervised by Finansinspektionen (Swedish FSA); registered with Finansinspektionen as a department of J.P. Morgan SE. In France, this materials is distributed by JPMorgan Chase Bank, N.A.–Paris Branch, registered workplace at 14, Place Vendome, Paris 75001, France, registered on the Registry of the Commercial Court of Paris beneath quantity 712 041 334 and licensed by the Autorité de contrôle prudentiel et de decision (ACPR) and supervised by the ACPR and the Autorité des Marchés Financiers. In Switzerland, this materials is distributed by J.P. Morgan (Suisse) SA, with registered handle at rue du Rhône, 35, 1204, Geneva, Switzerland, which is permitted and supervised by the Swiss Financial Market Supervisory Authority (FINMA) as a financial institution and a securities seller in Switzerland.

This communication is an commercial for the needs of the Markets in Financial Instruments Directive (MIFID II) and the Swiss Financial Services Act (FINSA). Investors shouldn’t subscribe for or buy any monetary devices referred to on this commercial besides on the premise of data contained in any relevant authorized documentation, which is or shall be made obtainable within the related jurisdictions (as required).

In Hong Kong, this materials is distributed by JPMCB, Hong Kong department. JPMCB, Hong Kong department is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission of Hong Kong. In Hong Kong, we are going to stop to make use of your private knowledge for our advertising functions with out cost in case you so request. In Singapore, this materials is distributed by JPMCB, Singapore department. JPMCB, Singapore department is regulated by the Monetary Authority of Singapore. Dealing and advisory providers and discretionary funding administration providers are offered to you by JPMCB, Hong Kong/Singapore department (as notified to you). Banking and custody providers are offered to you by JPMCB Singapore Branch. The contents of this doc haven’t been reviewed by any regulatory authority in Hong Kong, Singapore or some other jurisdictions. You are suggested to train warning in relation to this doc. If you’re in any doubt about any of the contents of this doc, you must get hold of unbiased skilled recommendation. For supplies which represent product commercial beneath the Securities and Futures Act and the Financial Advisers Act, this commercial has not been reviewed by the Monetary Authority of Singapore. JPMorgan Chase Bank, N.A. is a nationwide banking affiliation chartered beneath the legal guidelines of the United States, and as a physique company, its shareholder’s legal responsibility is proscribed.

With respect to international locations in Latin America, the distribution of this materials could also be restricted in sure jurisdictions. We might provide and/or promote to you securities or different monetary devices which might not be registered beneath, and are usually not the topic of a public providing beneath, the securities or different monetary regulatory legal guidelines of your house nation. Such securities or devices are provided and/or bought to you on a non-public foundation solely. Any communication by us to you relating to such securities or devices, together with with out limitation the supply of a prospectus, time period sheet or different providing doc, isn’t supposed by us as a suggestion to promote or a solicitation of a suggestion to purchase any securities or devices in any jurisdiction through which such a suggestion or a solicitation is illegal. Furthermore, such securities or devices could also be topic to sure regulatory and/or contractual restrictions on subsequent switch by you, and you’re solely answerable for ascertaining and complying with such restrictions. To the extent this content material makes reference to a fund, the Fund might not be publicly provided in any Latin American nation, with out earlier registration of such fund’s securities in compliance with the legal guidelines of the corresponding jurisdiction. Public providing of any safety, together with the shares of the Fund, with out earlier registration at Brazilian Securities and Exchange Commission—CVM is totally prohibited. Some services or products contained within the supplies won’t be presently offered by the Brazilian and Mexican platforms.

JPMorgan Chase Bank, N.A. (JPMCBNA) (ABN 43 074 112 011/AFS Licence No: 238367) is regulated by the Australian Securities and Investment Commission and the Australian Prudential Regulation Authority. Material offered by JPMCBNA in Australia is to “wholesale clients” solely. For the needs of this paragraph the time period “wholesale client” has the which means given in part 761G of the Corporations Act 2001 (Cth). Please inform us if you’re not a Wholesale Client now or in case you stop to be a Wholesale Client at any time sooner or later.

JPMS is a registered overseas firm (abroad) (ARBN 109293610) included in Delaware, U.S.A. Under Australian monetary providers licensing necessities, carrying on a monetary providers enterprise in Australia requires a monetary service supplier, equivalent to J.P. Morgan Securities LLC (JPMS), to carry an Australian Financial Services Licence (AFSL), except an exemption applies. JPMS is exempt from the requirement to carry an AFSL beneath the Corporations Act 2001 (Cth) (Act) in respect of monetary providers it supplies to you, and is regulated by the SEC, FINRA and CFTC beneath U.S. legal guidelines, which differ from Australian legal guidelines. Material offered by JPMS in Australia is to “wholesale clients” solely. The info offered on this materials isn’t supposed to be, and should not be, distributed or handed on, instantly or not directly, to some other class of individuals in Australia. For the needs of this paragraph the time period “wholesale client” has the which means given in part 761G of the Act. Please inform us instantly if you’re not a Wholesale Client now or in case you stop to be a Wholesale Client at any time sooner or later.

This materials has not been ready particularly for Australian traders. It:

• May comprise references to greenback quantities which aren’t Australian {dollars};

• May comprise monetary info which isn’t ready in accordance with Australian regulation or practices;

• May not handle dangers related to funding in overseas forex denominated investments; and

• Does not handle Australian tax points.

References to “J.P. Morgan” are to JPM, its subsidiaries and associates worldwide. “J.P. Morgan Private Bank” is the model identify for the non-public banking enterprise performed by JPM. This materials is meant on your private use and shouldn’t be circulated to or utilized by some other individual, or duplicated for non-personal use, with out our permission. If you’ve got any questions or now not want to obtain these communications, please contact your J.P. Morgan crew. 

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