Disclosures

To the extent J.P. Morgan Securities LLC ("JPMS") holds on behalf of a customer account, securities which, by their terms, may be called or redeemed prior to maturity ("callable securities") and a partial call or redemption involving such securities occurs, the following procedures will be followed: JPMS will generally administer the partial call or redemption via an impartial lottery system by which it will allocate among its introduced customers the securities to be selected as called or redeemed. In the event the call or redemption is deemed to be on terms favorable to the applicable holder, as determined by JPMS, JPMS shall not allocate the securities to any account in which it or its associated persons (or the associated persons of its introducing brokers, to the extent those accounts have been identified to JPMS by the introducing broker, generally, "associated persons") have an interest until all other customers' positions in such securities have been satisfied. In the event the call or redemption is deemed to be on terms unfavorable to the applicable holder, as determined by JPMS, the accounts of customers and associated persons will participate in the impartial lottery on equal terms. This information supersedes any prior or inconsistent terms relating to callable securities in your account.

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