080305_JPM Series Fix and Win ... - Börse Stuttgart

Issue Price
The Issue Price in respect of the Notes may be more than the market value of such Notes as at the Issue Date (as
determined by reference to proprietary pricing models based upon well recognised financial principles used by
JPMorgan), and the price, if any, at which the Dealer or any other person is willing to purchase the Notes in
secondary market transactions is likely to be lower than the Issue Price. In particular, the Issue Price in respect
of any Notes may take into account amounts with respect to commissions relating to the issue and sale of such
Notes as well as amounts relating to the hedging of the Issuer's obligations under such Notes, and secondary
market prices are likely to exclude such amounts. In addition, pricing models of relevant market participants
may differ or produce a different result.
Status of the Guarantee
The Guarantee is not a deposit insured or guaranteed by the FDIC or any other government authority. The
Guarantee is an unsecured and unsubordinated debt obligation of JPMCB and not of its parent, JPMorgan Chase
& Co., or any of its affiliates, and will rank pari passu with all other unsecured and unsubordinated indebtedness
of JPMCB, subject to a preference in favour of certain deposit liabilities of JPMCB or other obligations that are
subject to any priorities or preferences.
In particular, U.S. Federal legislation adopted in 1993 provides for a preference in right of payment of certain
claims made in the liquidation or other resolution of any FDIC-insured depository institution. The statute
requires claims to be paid in the following order:
• first, administrative expenses of the receiver;
• second, any deposit liability of the institution;
• third, any other general or senior liability of the institution not described below;
• fourth, any obligation subordinated to depositors or general creditors not described below;
• fifth, any obligation to shareholders or members (including any depository institution holding company or
any shareholder or creditor of such company).
For purposes of the statute, deposit liabilities include any deposit payable at an office of the insured depository
institution in the United States. They do not include international banking facility deposits or deposits payable
at an office of the insured depository institution outside the United States.
No Security
The obligations of the Issuer in respect of the Notes are not secured.
Investors in the Notes do not have or receive any rights in respect of the underlying Index and have no right to
call for assets contained in the Index to be delivered to them. The Issuer does not hold any assets contained in
the Index.
Market Disruption Events and Disrupted Days
In accordance with the Terms and Conditions, the Calculation Agent may determine that a Market Disruption
Event or a Disrupted Day has occurred or exists at a relevant time. Any such event or any consequential
postponement of any date on which the Issuer or Calculation Agent is required to determine the value of the
Index may have an effect on the value of the Notes and/or may delay settlement in respect of the Notes or any
determinations in respect of the Index and may entitle the Calculation Agent to determine the value of the Index.
Adjustments with respect to the Notes and the Index
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