EFTA01459324

The information in this preliminary pricing supplement is not complete and may be changed. This preliminary pricing supplement is not an offer to sell nor does it seek an offer to buy these securities in any jurisdiction where the offer or sale is not permitted. Subject to completion dated January 12. 2016 January , 2016 Registration Statement No 333-1S9966, Rule 424(b)c2) J.P. Morgan JPMorgan Chase & Co Structured Investments Capped Contingent Buffered Return Enhanced Notes Linked to the EURO STOXX 50° Index due July 19, 2018 • The notes are designed for investors who seek a return of 2 times any appreciation of the EURO STOXX 5e Index, up to a maximum return of at least 40.00% at maturity. • Investors should be willing to forgo interest and dividend payments and be willing to lose some or all of their principal amount at maturity. • The notes are unsecured and unsubordinated obligations of JPMorgan Chase & Co Any payment on the notes is subject to the credit risk of JPMorgan Chase 8 Co. • Minimum denominations of $1,000 and integral multiples thereof • The notes are expected to price on or about January 15, 2016 and are expected to settle on or about January 21. 2016. • CUSIP:46126GKF6 Investing in the notes involves a number of risks. See "Risk Factors" beginning on page PS-8 of the accompanying product supplement no. 4a-1, "Risk Factors" beginning on page US-2 of the accompanying underlying supplement no. la-I and "Selected Risk Considerations" beginning on page PS-3 of this pricing supplement. Neither the Securities and Exchange Commission (the 'SEC") nor any state securities commission has approved or disapproved of the notes or passed upon the accuracy or the adequacy of this pricing supplement or the accompanying product supplement, underlying supplement, prospectus supplement and prospectus. Any representation to the contrary is a criminal offense. Price to Public (1) Fees and Commissions (2) Proceeds to Issuer Per note $1,000 Total (1) See 'Supplemental Use of Proceeds' In this pricing supplement for information about the components of the price to public of the notes. (2) J.P. Morgan Securities LLC. which we refer to as JPMS. acting as agent for JPMorgan Chase & Co . will pay all of the selling commissions it receives from us to other affiliated or unaffiliated dealers. If the notes priced today, the selling commissions would be approximately $20.00 per $1.000 principal amount note and in no event will these selling commissions exceed $25.00 per $1,000 principal amount note. See 'Plan of Distribution (Conflicts of Interest)' beginning on page PS-87 of the accompanying product supplement no. 49-1. If the notes priced today, the estimated value of the notes as determined by JPMS would be approximately $973.90 per $1,000 principal amount note. JPMS's estimated value of the notes, when the terms of the notes are set, will be provided by JPMS in the pricing supplement and will not be less than $960.00 per $1,000 principal amount note. See "JPMS's Estimated Value of the Notes" in this pricing supplement for additional information. The notes are not bank deposits, are not insured by the Federal Deposit Insurance Corporation or any other governmental agency end are not obligations of, or guaranteed by. a bank. Pricing supplement no to product supplement no 4a-I dated November 7. 2014. underlying supplement no la-I dated November 7. 2014 and the prospectus and prospectus supplement. each dated November 7, 2014 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0119660 CONFIDENTIAL SDNY_GM_00265844 EFTA01459324