MFS High Yield Municipal Trust: Schedule 13G/A amendment showing JPMorgan Chase Bank's position in Series 2051 preferred shares. The filing states JPMorgan Chase Bank, N.A. beneficially owns 330 Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051 (CUSIP 59318E607), representing 100% of that preferred class. Voting power is shared: JPM reports 0 sole voting power and 330 shared voting power due to a Voting Trust arrangement. The filing notes that on September 5, 2024 JPM deposited 510 RVMTP Shares into a tender option bond trust (TOB) but that the TOB does not have disposition or voting power; voting rights remain with JPM and the Voting Trust. Signature dated 05/05/2026.
Positive
None.
Negative
None.
Key Figures
Beneficially owned shares:330 sharesPercent of class:100%CUSIP:59318E607+4 more
Percent of class100%Percentage ownership of RVMTP Shares as reported (issuer-supplied calculation)
CUSIP59318E607Identifier for Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051
Shares deposited to TOB510 sharesDeposited into a TOB on September 5, 2024 (TOB holds title but not disposition/voting power)
Sole voting power0JPMorgan reports 0 sole voting power over the 330 shares
Shared voting power330Shared voting power attributable to the Voting Trust arrangement
Filing signature date05/05/2026Date on signature line of Schedule 13G/A amendment
Key Terms
Remarketable Variable Rate MuniFund Term Preferred Shares, Voting Trust, Tender Option Bond (TOB)
3 terms
Remarketable Variable Rate MuniFund Term Preferred Sharesfinancial
"Title of class of securities: Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051"
A remarketable variable rate munifund term preferred share is a type of preferred stock issued by a fund that invests in municipal (tax-exempt) debt, which pays a dividend that resets periodically with market rates and has a defined term or maturity. Think of it as an adjustable-rate certificate that can be resold on scheduled “remarketing” dates; it matters to investors because it offers tax-advantaged income with changing yields, but carries interest-rate sensitivity, liquidity risk at remarketing, and credit risk tied to the municipal holdings.
Voting Trustcorporate governance
"JPM assigned certain preferred class voting rights on the RVMTP Shares to a voting trust"
A voting trust is an arrangement where shareholders temporarily transfer their voting rights to one or more trusted individuals (trustees) who vote on company matters on their behalf. It matters to investors because it consolidates decision-making power—like handing the car keys to a single driver for a journey—which can stabilize leadership or push through strategic plans but also reduces individual shareholders’ direct influence and can affect the company’s direction and stock value.
Tender Option Bond (TOB)financial
"JPM deposited the 510 RVMTP Shares into a tender option bond trust (a "TOB") named the J.P. Morgan Putters/Drivers, Series 5074 Trust"
What stake does JPMorgan Chase hold in CMU's Series 2051 preferred shares?
JPMorgan Chase beneficially owns 330 Series 2051 preferred shares, reported as 100% of that preferred class. This percentage is calculated using issuer-supplied information and reflects ownership of the specified preferred share class only.
Who holds voting and disposition powers for the Series 2051 shares?
JPMorgan reports 0 sole voting power and 330 shared voting power due to a Voting Trust. JPMorgan has sole dispositive power over 330 shares, while certain voting rights assigned to a Voting Trust are exercised by the Voting Trustee following the Voting Consultant's recommendations.
What is the significance of the September 5, 2024 TOB deposit mentioned?
On September 5, 2024 JPM deposited 510 RVMTP Shares into a tender option bond trust (TOB). The TOB holds title but does not have power to dispose or voting rights; those rights remain with JPM and the Voting Trust as described in the filing.
What security is identified and how is it described in the filing?
The filing identifies the security as Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051 with CUSIP 59318E607. The issuer is MFS High Yield Municipal Trust, and the shares are the specific preferred series referenced throughout the filing.
When was the Schedule 13G/A signed and by whom?
The Schedule 13G/A amendment is signed by Adrian Budischak as Authorized Signatory for JPMorgan Chase Bank, N.A., with a signature date of 05/05/2026 shown on the filing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 5)
MFS High Yield Municipal Trust
(Name of Issuer)
Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051
(Title of Class of Securities)
59318E607
(CUSIP Number)
05/01/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
59318E607
1
Names of Reporting Persons
JPMorgan Chase Bank, National Association
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
330.00
7
Sole Dispositive Power
330.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
330.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
100 %
12
Type of Reporting Person (See Instructions)
BK
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
MFS High Yield Municipal Trust
(b)
Address of issuer's principal executive offices:
111 Huntington Avenue, 24th Floor Boston, MA 02199
Item 2.
(a)
Name of person filing:
JPMorgan Chase Bank, National Association ("JPM")
(b)
Address or principal business office or, if none, residence:
1111 Polaris Parkway Columbus, OH 43240
(c)
Citizenship:
United States of America
(d)
Title of class of securities:
Remarketable Variable Rate MuniFund Term Preferred Shares, Series 2051
(e)
CUSIP No.:
59318E607
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
330
(b)
Percent of class:
100%*
* Represents percentage ownership of RVMTP Shares as a percentage of all preferred shares outstanding and is calculated based on information suppled by the issuer.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
330**
** On July 20, 2021 JPM assigned certain preferred class voting rights on the RVMTP Shares to a voting trust (the "Voting Trust") created pursuant to the Voting Trust Agreement, dated July 20, 2021 among JPM, Glass, Lewis & Co., LLC, as trustee (the "Voting Trustee") and as voting consultant (the "Voting Consultant"). Voting and consent rights on the RVMTP Shares not assigned to the Voting Trust have been retained by JPM. The Voting Trust provides that with respect to voting or consent matters relating to the voting rights assigned to the Voting Trust, the Voting Consultant analyzes such voting or consent matters and makes a recommendation to the Voting Trustee on voting or consenting. The Voting Trustee is obligated to follow any such recommendations of the Voting Consultant when providing a vote or consent.
(iii) Sole power to dispose or to direct the disposition of:
330
(iv) Shared power to dispose or to direct the disposition of:
0
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
On September 5, 2024 JPM deposited the 510 RVMTP Shares into a tender option bond trust (a "TOB") named the J.P. Morgan Putters/Drivers, Series 5074 Trust. The TOB has title to 100% of the RVMTP Shares but does not have the power to dispose or direct the disposition of the RVMTP Shares. No voting rights on the RVMTP Shares have been transferred to the TOB and voting rights on the RVMTP Shares are retained by JPM and the Voting Trust as described in Item 4.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
