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JPMorgan Chase (IQI) reports indirect ownership of 1,521 VMTP preferred shares

(Moderate)
(Neutral)
Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

JPMorgan Chase Bank reports indirect beneficial ownership of 1,521 Variable Rate Muni Term Preferred Shares, Series 2020/2023-IQI (CUSIP 46133G800). The filing states these 1,521 VMTP Shares represent 100.00% of the preferred class. The exhibit explains that on October 8, 2020 certain voting rights were assigned to a Voting Trust and that on April 28, 2026 JPM transferred the VMTP Shares to the National Finance Authority, which deposited them into a Trust that issued National Finance Authority Certificates Series 2026-PS1. JPM acquired the Class A Certificate on April 28, 2026, giving JPM an indirect beneficial interest in the VMTP Shares through contractual Trust rights.

Positive

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Negative

  • None.
Beneficial ownership 1,521 shares VMTP Shares, Series 2020/2023-IQI
Percent of class 100.00% Percentage of preferred shares outstanding as reported
CUSIP 46133G800 VMTP Shares identifier
Trust transfer date April 28, 2026 Date JPM transferred VMTP Shares to the National Finance Authority
Voting trust assignment date October 8, 2020 Date certain preferred-class voting rights were assigned to the Voting Trust
Voting Trust regulatory
"assigned certain preferred class voting rights on the VMTP 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.
Class A Certificate financial
"JPM acquired the National Finance Authority Certificates Series 2026-PS1 Class A Certificate"
indirect beneficial ownership financial
"JPM has an indirect beneficial ownership interest in the VMTP Shares"
National Finance Authority other
"transferred such VMTP shares to the National Finance Authority"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What amount of VMTP Shares does JPMorgan Chase Bank (IQI) report?

JPMorgan Chase Bank reports beneficial ownership of 1,521 VMTP Shares. The filing ties this figure to the Variable Rate Muni Term Preferred Shares, Series 2020/2023-IQI (CUSIP 46133G800).

What percentage of the preferred class does JPM report owning?

The filing states those 1,521 shares represent 100.00% of the preferred class. That percentage is calculated based on information supplied by the issuer for the preferred shares outstanding.

How did JPMorgan acquire an indirect interest in the VMTP Shares?

On April 28, 2026 JPM transferred the VMTP Shares to the National Finance Authority and then acquired a Class A Certificate, which conveys indirect beneficial ownership via the Trust arrangement.

What voting arrangement applies to the VMTP Shares?

On October 8, 2020 JPM assigned certain preferred-class voting rights to a Voting Trust, where a Voting Consultant recommends votes and the Voting Trustee follows those recommendations.

Does JPM retain any voting or dispositive powers over the VMTP Shares?

The filing shows JPM has shared power to vote 1,521 shares and sole power to dispose of 1,521 shares as reported; retained voting or consent rights not assigned to the Voting Trust remain with JPM.





46133G800

(CUSIP Number)
04/28/2026

(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





SCHEDULE 13G



JPMorgan Chase Bank, National Association
Signature:/s/ Adrian Budischak
Name/Title:Adrian Budischak / Authorized Signatory
Date:05/07/2026