Welcome to our dedicated page for Inverse VIX Short-Term Futures ETNs due March 22, 2045 SEC filings (Ticker: VYLD), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The SEC filings page for Inverse VIX Short-Term Futures ETNs due March 22, 2045 (VYLD) brings together U.S. regulatory documents in which this security is formally identified. In multiple Form 8-K current reports filed by JPMorgan Chase & Co., VYLD appears in the table of securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934.
In those filings, the Title of each class is given as the Guarantee of 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. The same tables also list JPMorgan Chase & Co. common stock, depositary shares representing interests in various preferred stock series, and other guaranteed notes and ETNs.
Through this page, users can access the underlying Form 8-K reports and related exhibits where VYLD is mentioned. These filings may cover topics such as earnings releases, changes to by-laws, or the closing of public offerings of other notes and subordinated debt, with VYLD included in the standardized disclosure of registered securities.
Stock Titan enhances these filings with AI-powered summaries that explain the main points of each document in plain language, while still preserving access to the full official text from EDGAR. Users can quickly see where VYLD appears in the filing, understand the context of the report, and navigate to other securities listed in the same disclosure table.
For deeper analysis, investors can review successive filings over time to confirm that VYLD remains listed as a registered security and to see how it is grouped with other instruments issued or guaranteed by JPMorgan Chase & Co. and JPMorgan Chase Financial Company LLC.
JPMorgan Chase Financial Company LLC is marketing Uncapped Accelerated Barrier Notes (Series A medium-term notes) linked individually to the Russell 2000 Index (RTY) and the S&P 500 Index (SPX). The five-year securities, fully guaranteed by JPMorgan Chase & Co., are expected to price on or about 17 July 2025 and mature on 22 July 2030.
Key economics
- Upside Leverage Factor: at least 1.49×; final multiple to be set at pricing.
- Barrier: 65 % of Initial Value for each index. Performance is measured on a final observation-only basis.
- Pay-off:
- If both indices finish above their initial levels, the holder receives principal plus (Lesser-Performing Index Return × Upside Leverage).
- If either index is ≤ initial but both are ≥ barrier, 100 % of principal is returned.
- If either index closes < barrier, repayment equals principal + (principal × Lesser-Performing Index Return); losses accelerate 1-for-1 beyond a 35 % drop and may reach total loss.
- Issue price: $1,000 minimum denomination; fee-based advisory accounts may pay ≥ $994; brokerage sales include ≤ $6 commission per $1,000.
- Estimated value: ~$978.20 today (not less than $950 at pricing), below issue price because of selling commissions, hedging costs and JPMS profit.
Risk highlights
- No interim coupons or dividends; investors forgo equity income.
- Principal is not protected; a >35 % decline in the worse index triggers direct capital loss.
- Credit exposure to both JPMorgan Financial (issuer) and JPMorgan Chase & Co. (guarantor); the issuer is a finance subsidiary with limited standalone assets.
- Notes are unlisted and may suffer materially lower secondary prices; liquidity depends on JPMS willingness to bid.
- Estimated value uses an internal funding rate that typically understates secondary value and may diverge from market funding curves.
Strategic positioning
The product targets investors with a bullish to moderately bullish five-year outlook on U.S. equities who are comfortable accepting full downside below a 35 % buffer in exchange for leveraged, uncapped upside. Relative to conventional buffered notes, the structure offers a higher upside multiple but sacrifices any upside cap and exposes holders to single-day barrier risk at maturity. Investors should compare the after-fee profile with lower-cost index ETFs or equity exposure and evaluate credit, liquidity, and tax considerations (open-transaction treatment expected, but IRS guidance could change).