We propose a new chaotic system that consists of only five terms, including one multiplier and one quadratic term, and one absolute-value term. It is observed that the absolute-value term results in intensifying chaoticity and complexity. The characteristics of the proposed system are investigated by theoretical and numerical tools such as equilibria, stability, Lyapunov exponents, Kaplan–Yorke dimension, frequency spectrum, Poincaré maps, and bifurcation diagrams. The existence of homoclinic and heteroclinic orbits of the proposed system is also studied by a theoretical analysis. Furthermore, synchronization of this system is achieved with a simple technique proposed by Kim et al. (Nonlinear Dyn., 2013, in press) for a practical application.