Inverse VIX S/T Futs ETNs due Mar22,2045 Stock Price, News & Analysis

Inverse VIX Short-Term Futures ETNs due March 22, 2045 (VYLD) are exchange-traded notes whose guarantee is registered with the U.S. Securities and Exchange Commission as a security of JPMorgan Chase Financial Company LLC, with a related guarantee by JPMorgan Chase & Co. The security is listed under the trading symbol VYLD on NYSE Arca, Inc., according to multiple Form 8-K filings.

The SEC filings identify the security as "Guarantee of Inverse VIX Short-Term Futures ETNs due March 22, 2045 of JPMorgan Chase Financial Company LLC". This description appears in the table of securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 in several current reports on Form 8-K filed by JPMorgan Chase & Co. Those filings show that VYLD is grouped with other registered securities such as depositary shares representing interests in preferred stock series, callable fixed rate notes, and other exchange-traded notes.

Based on the available filings, VYLD is treated as an exchange-listed security associated with JPMorgan Chase Financial Company LLC and guaranteed by JPMorgan Chase & Co. The filings do not provide additional detail in these excerpts about the underlying index, payoff structure, or specific investment objectives of the Inverse VIX Short-Term Futures ETNs, so any further characterization would require consulting the full prospectus or registration statement referenced in JPMorgan Chase & Co.'s shelf registration on Form S-3.

Listing and regulatory context

In the Form 8-K filings, VYLD is shown in a standardized disclosure table under the heading "Securities registered pursuant to Section 12(b) of the Act." In that table, the Title of each class is given as the guarantee of the Inverse VIX Short-Term Futures ETNs due March 22, 2045 of JPMorgan Chase Financial Company LLC, the Trading Symbol is listed as VYLD, and the Name of each exchange on which registered is NYSE Arca, Inc.

These filings also reference a broader registration framework under the Securities Act of 1933, as amended, through a registration statement on Form S-3 (File No. 333-285537). While the provided excerpts focus on other note offerings and corporate matters, they confirm that VYLD appears alongside other registered securities within JPMorgan Chase & Co.'s capital markets activities.

Relationship to JPMorgan Chase & Co.

The Form 8-K reports are filed by JPMorgan Chase & Co., which is identified in the cover pages as the registrant. In each of these filings, VYLD is listed among securities for which JPMorgan Chase & Co. provides a guarantee in connection with instruments issued by JPMorgan Chase Financial Company LLC. The filings indicate that these guarantees, including the guarantee related to VYLD, are themselves registered securities.

The same filings also list JPMorgan Chase & Co.'s common stock (JPM) on the New York Stock Exchange and various depositary shares tied to preferred stock series, as well as other guaranteed notes and ETNs. This context shows that VYLD forms part of a broader set of exchange-listed securities associated with JPMorgan Chase & Co. and its affiliates.

Use of SEC filings for research

Investors and researchers looking at VYLD can use the SEC filings of JPMorgan Chase & Co. to understand how the security is categorized, the fact that it is a guarantee of ETNs issued by JPMorgan Chase Financial Company LLC, and the exchange on which it is registered. For more detailed information about the terms of the Inverse VIX Short-Term Futures ETNs due March 22, 2045, users would typically review the full prospectus and related offering documents referenced in the issuer's registration statement.

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