The document discusses the U.S. federal income tax consequences of owning and disposing of certain notes, as well as JPMS's estimated value of these notes. It includes opinions from Davis Polk & Wardwell LLP on tax treatment, potential IRS actions, and the impact of FATCA. It also details JPMS's valuation methodology, which includes a fixed-income debt component and derivatives, and notes that the estimated value is lower than the original issue price due to associated costs.
documents/vol00010-efta01459327-pdf.pdf
{"title":"Tax Treatment and JPMS's Estimated Value of the Notes","key_people":["Davis Polk & Wardwell LLP"],"document_type":"financial","key_locations":["U.S."],"document_subtype":"Tax and Valuation Document","key_organizations":["JPMS","IRS","Treasury"],"reference_numbers":["product supplement no. 4a-l"]}