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 plans to issue Uncapped Accelerated Barrier Notes (UABNs) linked to the S&P 500® Futures Excess Return Index (SPXFP), maturing 5 August 2030. The notes price on or about 31 July 2025 in $1,000 denominations and are fully and unconditionally guaranteed by JPMorgan Chase & Co.
Return profile: investors receive 1.93× (minimum) of any positive index performance at maturity with no cap. If the index is flat or down less than 30 %, principal is returned. Barrier protection is set at 70 % of the initial index level; a close below this level on the single observation date converts losses dollar-for-dollar with index declines, exposing investors to a potential 100 % loss of principal.
Key economics: the indicative estimated value is $957.90 per $1,000 (no lower than $900 when set), reflecting embedded fees, hedging costs and JPMorgan’s internal funding rate. Selling commissions paid to dealers are capped at $11.25 per note. The product offers no interim coupons and will not be listed; liquidity depends on bid prices made by J.P. Morgan Securities LLC (JPMS).
Risk highlights:
- Market risk: a single observation of the SPXFP level determines payout; high volatility, futures roll costs and potential negative roll yield can erode returns.
- Credit risk: payment depends on JPMorgan Financial and the JPMorgan Chase & Co. guarantee; both obligations are senior unsecured.
- Valuation & secondary market: secondary prices will likely trade below issue price because they exclude selling commissions and use JPM’s prevailing funding spread.
- Tax & regulatory: treated as an open transaction for U.S. tax purposes; not subject to CEA protections; Section 871(m) not expected to apply but could change.
Investment thesis: the notes may appeal to investors with a moderately bullish five-year view on U.S. equities who can tolerate full principal loss, do not need liquidity, and value leveraged upside without a cap. They are unsuitable for income-seeking or capital-preservation mandates.
JPMorgan Chase Financial Company LLC is issuing $595,000 principal amount of Capped Buffered Return Enhanced Notes linked to the Nasdaq-100 Index® (NDX). The notes price on 25 June 2025, settle on or about 30 June 2025 and mature on 30 June 2027.
Key economic terms
- Upside Leverage: 1.50× the positive Index return
- Maximum Return: 21.80% (= maximum payment of $1,218 per $1,000 note)
- Buffer: first 10% decline is protected; beyond that, investor loses 1% of principal for every additional 1% drop, exposing up to 90% loss
- No coupons or dividend participation; notes are unsecured, unsubordinated obligations of JPMorgan Financial and are fully and unconditionally guaranteed by JPMorgan Chase & Co.
- Initial Value: NDX closing level on pricing date (22,237.74)
- Observation Date: 25 June 2027
- Denominations: $1,000; CUSIP 48136EM44
Pricing details
- Price to public: 100% of principal
- Selling commissions: $27 (2.70%) per $1,000 note, paid by JPMS to dealers
- Proceeds to issuer: $973 (97.3%) per $1,000; total net proceeds ≈ $578,935
- Estimated value at pricing: $961.60 per $1,000, reflecting embedded fees and hedging costs
Risk highlights
- Principal not protected: declines of the Index beyond the 10% buffer reduce repayment dollar-for-dollar, up to 90% potential loss.
- Capped upside: returns above 14.5333% Index appreciation are forfeited because of the 21.8% cap.
- Credit exposure: repayment depends on the creditworthiness of both JPMorgan Financial and the parent guarantor.
- Liquidity: the notes will not be listed, and secondary trading depends solely on dealer willingness to bid.
- Estimated value below issue price: indicates ~3.8% issuance premium (1000 – 961.6) covering commissions and structuring margin.
The product targets investors with a moderately bullish view on the Nasdaq-100 over the next two years who can tolerate limited liquidity, no income, and substantial downside risk in exchange for leveraged but capped upside and a 10% buffer.
JPMorgan Chase Financial Company has filed a prospectus for 3-year Auto-Callable Notes linked to the J.P. Morgan Multi-Asset Index (MAX), due August 3, 2028. The notes offer exposure to a dynamic portfolio of up to 10 futures-based indices across equities, fixed income, and commodities in developed markets.
Key features include:
- Minimum denomination of $1,000 with 100% participation rate
- Automatic call feature if index closes above call value on review dates
- Call premium of at least 8.00% per annum
- Full principal protection at maturity if not called early
- Estimated value no less than $900 per $1,000 principal amount
Notable risks include the 1.00% annual index deduction, credit risk of JPMorgan Chase, limited appreciation potential due to early call feature, and risks associated with futures contracts, non-U.S. securities, and commodities. The index employs a momentum strategy with a 4.0% initial volatility threshold.