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 Auto-Callable Contingent Interest Notes due 2 July 2030 that are unsecured, unsubordinated obligations of the issuer and are fully and unconditionally guaranteed by JPMorgan Chase & Co.
The notes are linked to the MerQube US Large-Cap Vol Advantage Index (MQUSLVA), whose performance is reduced by a 6.0% p.a. daily deduction. Investors receive a contingent semi-annual coupon of at least 8.25% (16.50% p.a.) for any Review Date on which the Index closes at or above the Interest Barrier of 70% of the Initial Value. If on any Review Date other than the first or final the Index closes at or above the Call Value of 90%, the notes are redeemed early at par plus the applicable coupon. The first potential call date is 29 June 2026.
If the notes are not called, principal is protected only down to the Trigger Value of 50%. Should the Index close below that level on the final Review Date, investors will be exposed 1-for-1 to the Index decline, leading to a loss of more than 50% and potentially all of the principal.
Key economic terms (per $1,000 face): estimated value ≈ $937 at current market levels (not less than $900 at pricing); selling commission ≤ $5; minimum denomination $1,000; CUSIP 48136FAB8. The notes price on or about 27 June 2025 and settle 2 July 2025.
Primary risks highlighted include credit exposure to JPMorgan entities, the drag from the 6% daily deduction, potential absence of coupon payments, leverage mechanisms within the Index (0–500% futures exposure) and the possibility of significant principal loss. The notes are not bank deposits and are not FDIC-insured.
JPMorgan Chase Financial Company has filed a Free Writing Prospectus for 17.5m WTI Enhanced Trigger Jump Securities due December 21, 2026. These securities track WTI crude oil futures contracts with unique payoff characteristics:
Key features include:
- Principal amount: $1,000 per security
- Upside payment: Minimum 15.90% if final contract price ≥ 75% of initial price
- Downside risk: One-for-one losses if price falls below 75% trigger level
- No interest payments
Notable risks include potential loss of principal, limited appreciation potential, credit risk of JPMorgan, and exposure to volatile WTI crude oil futures markets. The estimated value will be lower than the issue price of $1,000 but not less than $920.00. Securities are backed by JPMorgan Chase & Co as guarantor.
JPMorgan Chase Financial Company filed a Rule 424(b)(2) prospectus supplement for Enhanced Trigger Jump Securities linked to the first-nearby WTI crude oil futures contract, fully and unconditionally guaranteed by JPMorgan Chase & Co.
Each $1,000 security delivers a fixed upside payment of at least $159 (15.90%) provided the final contract price on the December 16 2026 valuation date is at least 75 % of the initial price (the “trigger level”). If the final price is below that threshold, investors receive $1,000 × (final / initial), incurring a dollar-for-dollar loss that can wipe out the entire principal. The notes pay no coupons and offer no principal protection.
The securities mature on December 21 2026 (≈17.5 months) and will not be listed, restricting secondary-market liquidity. Gross proceeds are $1,000 per note; up to $25 (2.5 %) is allocated to selling commissions and structuring fees, leaving net proceeds of $975. JPMorgan estimates the fair value at approximately $941.90, highlighting embedded costs.
All payments depend on the creditworthiness of the issuer and guarantor. Additional risk factors cite potential early acceleration upon commodity-hedging disruption events and exposure to oil-market volatility.
Offering overview: JPMorgan Chase Financial Company LLC is marketing unsecured, unsubordinated Review Notes linked to the MerQube US Large-Cap Vol Advantage Index (Bloomberg: MQUSLVA). The preliminary pricing supplement indicates an expected pricing date of June 27 2025 and settlement on July 2 2025, with maturity on July 2 2030 unless the notes are automatically called earlier. Minimum investment is $1,000 (CUSIP 48136ED44).
Return mechanics: The notes provide no coupon but feature 17 potential quarterly “Review Dates.” If on any Review Date the Index closes at or above its corresponding Call Value (initially set at a maximum of 100% of the Initial Value, dropping to 60% only on the final Review Date), the note is automatically called for $1,000 principal plus the applicable Call Premium Amount. Minimum call premiums escalate from 21% on the first Review Date to 105% on the final Review Date, translating into simple annualized yields of roughly 21% to 18% depending on call timing.
Downside exposure: If the notes are not called, investors are exposed to the full negative Index return once the Index has fallen below the 60% Barrier Amount. At maturity, payment is $1,000 plus $1,000 × Index Return. A decline greater than 40% therefore produces a loss of principal, up to 100% in a worst-case scenario.
Index specifics: MQUSLVA is a rules-based, leveraged (0-500%) strategy that rolls E-mini S&P 500 futures and targets 35% implied volatility using the SPY ETF as a proxy. Crucially, the index level reflects a 6.0% per-annum daily deduction, which systematically drags on performance relative to an identical index without the fee. The deduction, combined with variable leverage, influences the economic terms, enabling higher call premiums and lower Call Values, but simultaneously reduces the underlying’s growth potential.
Valuation & distribution: If priced on June 25 2025 the estimated value would have been approximately $928.40 per $1,000 note (≈92.8% of face). Final estimated value will not be below $900. Selling commissions payable to dealers are capped at $9 per $1,000. JPMS acts as agent; the notes are fully and unconditionally guaranteed by JPMorgan Chase & Co., exposing holders to the issuer’s and guarantor’s credit.
Key risks highlighted: (1) potential loss of principal below the 60% barrier; (2) structurally negative impact of the 6% daily deduction; (3) significant leverage and possible under-investment of the Index; (4) lack of coupon or dividends; (5) limited liquidity and secondary-market price dislocations relative to theoretical value; and (6) complex payoff structure not suitable for all investors.
Investor profile: Suitable only for sophisticated investors comfortable with equity-linked derivatives, high structural complexity, and issuer credit risk, who seek an outsized, time-capped premium in exchange for downside exposure beyond a 40% threshold.