JPMORGAN CHASE & CO. - Irish Stock Exchange
JPMORGAN CHASE & CO. - Irish Stock Exchange
JPMORGAN CHASE & CO. - Irish Stock Exchange
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(iv)<br />
(v)<br />
understand thoroughly the terms of the relevant Notes and be familiar with the behaviour of any relevant<br />
indices and financial markets; and<br />
be able to evaluate (either alone or with the help of a financial adviser) possible scenarios for economic,<br />
interest rate and other factors that may affect its investment and its ability to bear the applicable risks.<br />
Some Notes are complex financial instruments and such instruments may be purchased as a way for potential investors<br />
to reduce risk or enhance yield with an understood, measured, appropriate addition of risk to their overall portfolios. A<br />
potential investor should not invest in Notes that are complex financial instruments unless it has the expertise (either<br />
alone or with the help of a financial adviser) to evaluate how the Notes will perform under changing conditions, the<br />
resulting effects on the value of such Notes and the impact this investment will have on the potential investor's overall<br />
investment portfolio.<br />
Risks Related to the Structure of a Particular Issue of Notes<br />
Notes linked to a Reference Item<br />
An investment in Notes linked to one or more underlying assets or indices (such assets or indices being referred to as<br />
“Reference Items” and such Notes being referred to as “Reference Notes”) may entail significant risks not associated<br />
with investments in a conventional debt security, including the risks set out below. The amount paid by the Issuer on<br />
redemption of the Notes may be less than the principal amount of the Notes together with any accrued interest and may<br />
in certain circumstances be zero. Where the Notes are redeemed by the Issuer by delivery of Reference Item(s) the<br />
value of the Reference Item(s) may be less than the principal amount of the Notes together with any accrued interest and<br />
may in certain circumstances be valueless.<br />
A wide range of Notes may be issued under the Programme. Some of these Notes may have features that contain<br />
particular risks for potential investors. Set out below is a description of certain such features:<br />
Credit Linked Notes<br />
In the event of the occurrence of certain circumstances specified in the applicable Final Terms the Issuer’s obligation to<br />
pay principal may be replaced by an obligation to pay other amounts calculated by reference to the value of the<br />
Reference Item(s) and/or to deliver the Reference Item(s). In addition interest bearing Credit Linked Notes may cease<br />
to bear interest on or prior to the date of occurrence of such circumstances. The value, redemption amount and return to<br />
an investor in respect of such Notes may be dramatically affected by such credit linkage and/or the occurrence of a<br />
Credit Event in respect of any applicable Reference Item.<br />
There may exist at times only small markets for the Notes and for the obligations of the Reference Item to which the<br />
Notes are linked, resulting in low or non-existent volumes of trading in the Notes and such obligations, and therefore a<br />
lack of liquidity and price volatility of the Notes and such obligations.<br />
In making any selection in accordance with the terms of the Notes, the Calculation Agent is under no obligation to the<br />
Noteholders or any other person and provided that the relevant selection meets the criteria specified, the Calculation<br />
Agent will not be liable to account to the Noteholders or any other person for any profit or other benefit to it or any of<br />
its affiliates which may result directly or indirectly from any such selection.<br />
In addition, the Issuer and its affiliates may, for their own account and for the account of customers, engage in any kind<br />
of transactions and other business directly or indirectly involving a Reference Item and may act with respect to such<br />
business in the same manner as it would if the Notes had not been issued, regardless of whether any such action might<br />
have an adverse effect directly or indirectly on a Reference Item. The Issuer and its affiliates may on the Issue Date of<br />
the Notes or at any time thereafter be in possession of information in relation to a Reference Item that is or may be<br />
material in the context of the issue of Notes and that may not be publicly available or known to the purchasers. There is<br />
no obligation on the part of the Issuer or its affiliates to disclose to the Noteholders any such relationship or information.<br />
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