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They are to intertwined FootBall
I am still hoping for an EOY payment but this is how they will Fund it Bucket 1 over 2 years. Bucket 2 May 28th in Spring of 2024.
"The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with the systemic risk determination announced on March 12, 2023.
Under the final rule, the banks that benefited most from the assistance provided under the systemic risk determination will be charged a special assessment to recover losses to the DIF resulting from the protection of uninsured depositors. In general, large banks and regional banks, and particularly those with large amounts of uninsured deposits, were the banks most vulnerable to uninsured deposit runs and benefited most from the stability provided under the systemic risk determination.
The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period.
Currently, the FDIC estimates that of the total cost of the failures of Silicon Valley Bank and Signature Bank, approximately $16.3 billion was attributable to the protection of uninsured depositors. These loss estimates will be periodically adjusted as assets are sold, liabilities are satisfied, and receivership expenses are incurred.
The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate.
The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024.
https://www.fdic.gov/.../special-assessment-final-rule-11...
Special assessment
66.3 Billion invoice payment 6/28/ 2024
Bullish
BULLISH
I am still hoping for an EOY payment but this is how they will Fund it Bucket 1 over 2 years. Bucket 2 May 28th in Spring of 2024.
"The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank. The Federal Deposit Insurance Act (FDI Act) requires the FDIC to take this action in connection with the systemic risk determination announced on March 12, 2023.
Under the final rule, the banks that benefited most from the assistance provided under the systemic risk determination will be charged a special assessment to recover losses to the DIF resulting from the protection of uninsured depositors. In general, large banks and regional banks, and particularly those with large amounts of uninsured deposits, were the banks most vulnerable to uninsured deposit runs and benefited most from the stability provided under the systemic risk determination.
The FDIC estimates that 114 banking organizations will be subject to the special assessment, including 48 banking organizations with total assets over $50 billion and 66 banking organizations with total assets between $5 and $50 billion. No banking organizations with total assets under $5 billion will pay a special assessment, based on data for the December 31, 2022 reporting period.
Currently, the FDIC estimates that of the total cost of the failures of Silicon Valley Bank and Signature Bank, approximately $16.3 billion was attributable to the protection of uninsured depositors. These loss estimates will be periodically adjusted as assets are sold, liabilities are satisfied, and receivership expenses are incurred.
The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate.
The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024.
https://www.fdic.gov/.../special-assessment-final-rule-11...
Special assessment
66.3 Billion invoice payment 6/28/ 2024
Ray this may help
393511/22/2023DECLARATION of Kay Ruvolo of Angeion Group LLC in Support re: (3870 in 1:11-md-02262-NRB, 643 in 1:11-cv-05450-NRB) MOTION to Approve Final Approval of Settlement with Defendants Cooperatieve Rabobank U.A., Lloyds Banking Group PLC, Lloyds Bank PLC, HBOS PLC, Bank of Scotland PLC, Royal Bank of Canada, Portigon AG, and Westdeutsche Immobilien Servicing AG, (638 in 1:11-cv-05450-NRB, 3865 in 1:11-md-02262-NRB) MOTION for Attorney Fees OTC Plaintiffs' Notice of Motion and Motion for Attorneys Fees and Reimbursement of Litigation Expenses. Document filed by Mayor and City Council of Baltimore. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
393411/22/2023JOINT REPLY MEMORANDUM OF LAW in Support re: (3870 in 1:11-md-02262-NRB, 643 in 1:11-cv-05450-NRB) MOTION to Approve Final Approval of Settlement with Defendants Cooperatieve Rabobank U.A., Lloyds Banking Group PLC, Lloyds Bank PLC, HBOS PLC, Bank of Scotland PLC, Royal Bank of Canada, Portigon AG, and Westdeutsche Immobilien Servicing AG, (638 in 1:11-cv-05450-NRB, 3865 in 1:11-md-02262-NRB) MOTION for Attorney Fees OTC Plaintiffs' Notice of Motion and Motion for Attorneys Fees and Reimbursement of Litigation Expenses. Document filed by Mayor and City Council of Baltimore. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
"The proposal includes transition provisions to give banks sufficient time to adapt to the changes
while minimizing any potential adverse impact. It would also allow banks to count, as part of
the required amounts, certain existing long-term debt.
Comments on the proposal are due by November 30, 2023."
https://www.fdic.gov/news/press-releases/2023/pr23065a.pdf
As Lehman goes Washington Mutual goes imo
Easy for you to say for a late Comer to Coop you didn't release and want it all to come there, selfish.
As Lehman goes Washington Mutual goes imo
Looking for a trigger
"Effective with the close of business on December 1st, 2023, E*Trade Securities LLC,
#0385, will retire the following account"
https://www.dtcc.com/-/media/Files/pdf/2023/11/24/19293-23.pdf
https://www.dtcc.com/-/media/Files/pdf/2023/11/24/A9360.pdf
393411/22/2023JOINT REPLY MEMORANDUM OF LAW in Support re: (3870 in 1:11-md-02262-NRB, 643 in 1:11-cv-05450-NRB) MOTION to Approve Final Approval of Settlement with Defendants Cooperatieve Rabobank U.A., Lloyds Banking Group PLC, Lloyds Bank PLC, HBOS PLC, Bank of Scotland PLC, Royal Bank of Canada, Portigon AG, and Westdeutsche Immobilien Servicing AG, (638 in 1:11-cv-05450-NRB, 3865 in 1:11-md-02262-NRB) MOTION for Attorney Fees OTC Plaintiffs' Notice of Motion and Motion for Attorneys Fees and Reimbursement of Litigation Expenses. Document filed by Mayor and City Council of Baltimore. Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB.
Nope, Thanks for serving
Press Release (Process)
Agencies Request Comment on Proposed Rule to Require Large Banks to Maintain Long-Term Debt to Improve Financial Stability and Resolution
Tuesday, August 29, 2023
https://www.fdic.gov/news/press-releases/2023/pr23065.html?source=govdelivery&utm_medium=email&utm_source=govdelivery
AZ real tired of your immature posting. Get real, especially at this time of pre settlement.
Signature Bank's apartment loans all set for discounted sale - report
Nov. 20, 2023 5:30 AM ETSignature Bank (SBNY)BXBy: Manshi Mamtora, CF
https://seekingalpha.com/news/4038492-signature-bank-apartment-loans-discounted-sale
https://seekingalpha.com/news/4009254-fdic-starts-marketing-cre-portfolio-of-failed-bank-signature-bank?hasComeFromMpArticle=false
Hoping for by EOY Bucket 1 Bucket 2 by may 2024 as I have said before
Sealed coming from Carmody (Sussman is suspect) Bear/JPM to Naomi
3927. LETTER RESPONSE to Motion addressed to Judge Naomi Reice Buchwald from Alan Turner dated November 17, 2023 re: [3924] LETTER MOTION for Conference re pre-motion letter to compel addressed to Judge Naomi Reice Buchwald from Michael D. Hausfeld, William Christopher Carmody, and James R. Martin dated November 14, 2023. Document filed by Bear Stearns Capital Markets, Inc., J.P. Morgan Bank Dublin PLC, J.P. Morgan Markets Ltd., JP Morgan Chase & Co., JPMorgan Chase & Co., JPMorgan Chase Bank, N.A.
https://www.docketbird.com/court-cases/In-Re-Libor-Based-Financial-Instruments-Antitrust-Litigation/nysd-1:2011-md-02262
Trigger dates:
11/15 DTCC Computershare wells fargo share close
11/16 FDIC/ Board meeting 10:00 am
11/17 NYSD Objective deadline FDIC
11/18 Congressional deadline (passed)
11/19 DTCC Deploy production
11/21 Distribution within 2 months/ January 1/21/23 LBHI
11/20 NYSC Drop dead for settlement money FDIC
11/27 DTCC destruction of documents
12/12 NYSD Fair and reasonable Hearing
12/27 Last day to close
1/21 "TWO Months of 11/21, putting the receipt of release smack dab into 2024's taxing year ! ! ... 01/21/2024"
Brilliance is hard to come by
T, Believe these Bonds will be used for the settlement of the oringinal legacy. Notic ethe 6,8% Coupon rate Wells Fargo: I Started To Buy The 6.8% Yielding Preferred Shares
Nov. 18, 2023 11:40 AM ETWells Fargo & Company (WFC), WFC.PR.L1 Like
The Investment Doctor profile picture
Wells Fargo: I Started To Buy The 6.8% Yielding Preferred Shares
Nov. 18, 2023 11:40 AM ETWells Fargo & Company (WFC), WFC.PR.L12 Comments
The Investment Doctor profile picture
https://seekingalpha.com/article/4651549-wells-fargo-i-started-to-buy-the-6-8-percent-yielding-preferred-shares
These are our P's for legacy . Looks like we will be paid on December 15 the before EOY Time for Rally Time
Wells Fargo: I Started To Buy The 6.8% Yielding Preferred Shares
Nov. 18, 2023 11:40 AM ETWells Fargo & Company (WFC), WFC.PR.L1 Like
The Investment Doctor profile picture
The Investment Doctor
https://seekingalpha.com/.../4651549-wells-fargo-i...
FDIC set to approve plan for big banks to foot bill for March's bank failures - report
https://seekingalpha.com/.../4037678-fdic-set-to-approve...
Wells Fargo & Company Non Cum Perp Conv Pfd Registered Shs A Series L declares $18.75 dividend
Nov. 17, 2023 8:50 AM ETWells Fargo & Company PERP PFD CNV A (WFC.PR.L)WFCBy: Deepa Sarvaiya, SA News Editor1 Comment
https://seekingalpha.com/.../4038201-wells-fargo--company...
Wells Fargo: I Started To Buy The 6.8%
Yielding Preferred Shares
Nov. 18, 2023 11:40 AM ETWells Fargo & Company (WFC), WFC.PR.L1 Like
The Investment Doctor profile picture
The Investment Doctor
Investing Group Leader
European Small-Cap Ideas - Marketplace Checkout
SEEKINGALPHA.COM
European Small-Cap Ideas - Marketplace Checkout
European Small-Cap Ideas, offers exclusive access to actionable research on appealing Europe-focused investment opportunities. It spotlights high-quality ideas in the European small-cap space, with emphasis on capital gains and dividend income for continuous cash flow. While there are plenty of serv...
Party party party Mr. Bouncer
These are our P's for legacy . Looks like we will be paid on December 15 the before EOY Time for Rally Time
Wells Fargo: I Started To Buy The 6.8% Yielding Preferred Shares
Nov. 18, 2023 11:40 AM ETWells Fargo & Company (WFC), WFC.PR.L1 Like
The Investment Doctor profile picture
The Investment Doctor
https://seekingalpha.com/article/4651549-wells-fargo-i-started-to-buy-the-6-8-percent-yielding-preferred-shares
FDIC set to approve plan for big banks to foot bill for March's bank failures - report
https://seekingalpha.com/news/4037678-fdic-set-to-approve-plan-for-big-banks-to-foot-bill-for-marchs-bank-failures-report
Wells Fargo & Company Non Cum Perp Conv Pfd Registered Shs A Series L declares $18.75 dividend
Nov. 17, 2023 8:50 AM ETWells Fargo & Company PERP PFD CNV A (WFC.PR.L)WFCBy: Deepa Sarvaiya, SA News Editor1 Comment
https://seekingalpha.com/news/4038201-wells-fargo--company-non-cum-perp-conv-pfd-registered-shs-a-series-l-declares-1875-dividend
Wells Fargo: I Started To Buy The 6.8%
Yielding Preferred Shares
Nov. 18, 2023 11:40 AM ETWells Fargo & Company (WFC), WFC.PR.L1 Like
The Investment Doctor profile picture
The Investment Doctor
Investing Group Leader
The Banks first republic and signature bank and jpm with Washington Mutual are are similar Great way of the masters of the universe of which I am not. Hope I am right as well.
Agree to diagree Part settlement is the specific of the merger of First Republic snd Signiture Bamk between JPM and the FDIC. This will confuse and discuise the settlement.
https://www.jpmorganchase.com/ir/news/2023/jpmc-acquires-substantial-majority-of-assets-and-assumes-certain-liabilities-of-first-republic-bank
JPMorgan Chase acquires substantial majority of assets and assumes certain liabilities of First Republic Bank
– May 01, 2023New York
JPMorgan Chase to protect all deposits -- insured and uninsured -- bringing its financial strength, capabilities and capital to the U.S. banking system and First Republic
No systemic risk exception required; a competitive bid process minimized costs to the Deposit Insurance Fund
New York, May 1, 2023 – JPMorgan Chase (NYSE: JPM) today announced it has acquired the substantial majority of assets and assumed the deposits and certain other liabilities of First Republic Bank from the Federal Deposit Insurance Corporation (FDIC). In carrying out this transaction, JPMorgan Chase is supporting the U.S. financial system through its significant strength and execution capabilities. As part of the purchase, JPMorgan Chase is assuming all deposits – insured and uninsured.
“Our government invited us and others to step up, and we did,” said Jamie Dimon, Chairman and CEO of JPMorgan Chase. “Our financial strength, capabilities and business model allowed us to develop a bid to execute the transaction in a way to minimize costs to the Deposit Insurance Fund.”
Dimon added, “This acquisition modestly benefits our company overall, it is accretive to shareholders, it helps further advance our wealth strategy, and it is complementary to our existing franchise.”
Key transaction elements following the FDIC’s competitive bidding process include:
Acquisition of the substantial majority of First Republic Bank’s assets, including approximately $173 billion of loans and approximately $30 billion of securities
Assumption of approximately $92 billion of deposits, including $30 billion of large bank deposits, which will be repaid post-close or eliminated in consolidation
FDIC will provide loss share agreements covering acquired single-family residential mortgage loans and commercial loans, as well as $50 billion of five-year, fixed-rate term financing
JPMorgan Chase is not assuming First Republic’s corporate debt or preferred stock
First Republic branches will open on Monday, May 1, as normal, and clients will continue to receive uninterrupted service, including digital and mobile banking capabilities.
As a result of this transaction, JPMorgan Chase expects to:
Recognize an upfront, one-time, post-tax gain of approximately $2.6 billion, which does not reflect the approximately $2.0 billion dollars of post-tax restructuring costs anticipated over the next 18 months
Remain very well-capitalized with a CET1 ratio consistent with its 1Q 24 target of 13.5% and maintain healthy liquidity buffers
The transaction is expected to be modestly EPS accretive and generate more than $500 million of incremental net income per year, not including the approximately $2.6 billion one-time post-tax gain or approximately $2.0 billion of post-tax restructuring costs expected over the course of 2023 and 2024.
The acquired First Republic businesses will be overseen by JPMorgan Chase’s Consumer and Community Banking (CCB) Co-CEOs, Marianne Lake and Jennifer Piepszak.
“First Republic has built a strong reputation for serving clients with integrity and exceptional service,” said Lake and Piepszak. “We look forward to welcoming First Republic employees. As always, we are committed to treating employees with respect, care and transparency.”
JPMorgan Chase will:
post an investor presentation with additional deal details on its Investor Relations website at approximately 7:00 a.m. ET on Monday, May 1
host a media call at 8:00 a.m. ET and an analyst and investor call at 8:30 a.m. ET featuring Jamie Dimon, and CFO, Jeremy Barnum, on Monday, May 1
As noted above, JPMorgan Chase will host a conference call for analysts and investors on Monday, May 1, at 8:30 a.m. (ET) to discuss the transaction. The general public can access the call by dialing (888) 324-3618 in the U.S. and Canada, or (312) 470-7119 for international callers; using passcode 1364784#. Please dial in 15 minutes prior to the start of the call. The live audio webcast and presentation slides will be available on the Firm’s website, www.jpmorganchase.com, under Investor Relations.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorgan Chase had $3.7 trillion in assets and $303 billion in stockholders’ equity as of March 31, 2023. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of JPMorgan Chase & Co.’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31, 2022, which has been filed with the Securities and Exchange Commission and is available on JPMorgan Chase & Co.’s website (https://jpmorganchaseco.gcs-web.com/financial.../sec-filings), and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements.
Investor Contact:
Mikael Grubb
212-270-2479
Media Contact:
Joseph Evangelisti
212-270-7438
"the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate."
https://www.fdic.gov/news/fact-sheets/special-assessment-final-rule-11-07-23.html
Do you think that the major Banks will pay 13.4 % for their money Ya right. This will be paid by the EOY Hoping before Thanksgiving 50B
"The special assessment will be collected beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024."
"The special assessment will be collected at an annual rate of approximately 13.4 basis points for an anticipated total of eight quarterly assessment periods. Because the estimated loss pursuant to the systemic risk determination will be periodically adjusted, the FDIC retains the ability to cease collection early, impose an extended special assessment collection period after the initial eight-quarter collection period to collect the difference between losses and the amounts collected, and impose a one-time final shortfall special assessment after both receiverships terminate."
https://www.fdic.gov/news/fact-sheets/special-assessment-final-rule-11-07-23.html
The plan of our settlement that I mentioned before
FDIC BOARD OF DIRECTORS NOTATIONAL VOTE
Today the Federal Deposit Insurance Corporation’s Board of Directors by notational vote approved: Final Rule on Special Assessment.
Materials and information relative to the Board action are available here:
WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) Board of Directors today approved a final rule to implement a special assessment to recover the loss to the Deposit Insurance Fund (DIF) associated with protecting uninsured depositors following the closures of Silicon Valley Bank and Signature Bank.
https://www.fdic.gov/news/press-releases/2023/pr23092.html
Under the final rule, the FDIC will collect the special assessment at an annual rate of 13.4 basis points beginning with the first quarterly assessment period of 2024 (i.e., January 1 through March 31, 2024) with an invoice payment date of June 28, 2024, and will continue to collect special assessments for an anticipated total of eight quarterly assessment periods. The base for the special assessment is equal to an insured depository institution’s (IDI’s) estimated uninsured deposits for the December 31, 2022 reporting period, adjusted to exclude the first $5 billion in estimated uninsured deposits from the IDI, or at the banking organization level for IDIs that are part of a holding company with one or more subsidiary IDIs.
https://www.fdic.gov/news/board-matters/2023/board-meeting-111623-notational.html?source=govdelivery&utm_medium=email&utm_source=govdelivery
OUR funding of the settlement IMO
FDIC set to approve plan for big banks to foot bill for March's bank failures - report
Nov. 16, 2023 10:27 AM ETJPMorgan Chase & Co. (JPM), C, BAC, WFC, USB, TFCBy: Liz Kiesche, SA News Editor40 Comments
https://seekingalpha.com/news/4037678-fdic-set-to-approve-plan-for-big-banks-to-foot-bill-for-marchs-bank-failures-report
ncua meeting
Bucket 2 Settlement time
EMIR Refit: 6 Months to Go
Ready. Set. Go. The implementation of the EU-EMIR Refit rules in April 2024 is just months away. Will you be prepared?
Watch for an update on the incoming derivatives trade reporting rule changes under EU- and UK-EMIR Refit, followed by a discussion on the industry’s state of readiness, including key challenges amongst reporting counterparties.
We also share how DTCC’s trade reporting ecosystem – comprised of our Global Trade Repository service (GTR), DTCC Report Hub® platform and DTCC Consulting Services – is helping firms just like yours prepare for day-one compliance.
https://communications.dtcc.com/RHUB-WC-2023-11-07-EMIRRefit6MonthsOuteventreplay_LP-Registration-2.html
communications.dtcc.com
COMMUNICATIONS.DTCC.COM
communications.dtcc.com
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Boris thanks, I could not have said it better, on all accounts. My playbook is the same. I am just going crazy waiting. Just want an announcement to confirm. The best is yet to come GLTA
F&R +155B X the Edgar Sargent Calculator
https://docs.google.com/spreadsheets/d/1ZoUYA5R7n6pEB-JxSS6NxEayKqNmtbKAaXwf_rOaeZQ/edit?fbclid=IwAR3goYVXxqMkAatG4v8N_52nHrBLKkbDnD7t5tNjuoPjdPRvrz6cj6iUe38#gid=519369997
https://docs.google.com/.../1gcQtHvb5eNwTWgkqjYjY.../edit...
What I have been sitting thinking about for a while is the lack of protection and fiduciary responsibility we have from them. I believe I have in the past found this Fund before but do think that they hid their figures in the Millions not Billions. Now we actually can see the $$$$ for us. Now 155 Bil that I believe is ours, Unless they steal it from us.
I should be very excited but I have mixed amotions that it took me to find it by chance. Not to be directed to all of my buddy's here and elsewhere but we truly work alone and considered by those that do know are consider to be low life's and non significant. We have been violated and should demand pain and suffering for their arrogance. Don't get me wrong, I want no more litigation and I am just screaming in the wind if they just follow through with F&R I will be satisfied.
OK you guys it is time to get your Buts up and go at it. You and congress are so ridiculous. Bring it on :)
Believe it is a model to be used for multiple purposes imo
Registration Statement Nos. 333-270004 and 333-270004-01
Subject to Completion. Dated November 14, 2023.
Pricing Supplement to the Prospectus and Prospectus Supplement, each dated April 13, 2023, the Underlying Supplement No. 1-I dated April 13, 2023 and the Product Supplement No. 4-I dated April 13, 2023
JPMorgan Chase Financial Company LLC
Medium-Term Notes, Series A
$
Capped Buffered Enhanced Participation Equity Notes due 2025
(Linked to the MSCI EAFE® Index)
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
The notes will not bear interest. The amount that you will be paid on your notes on the stated maturity date (May 23, 2025, subject to adjustment) is based on the performance of the MSCI EAFE® Index (which we refer to as the underlier) as measured from and including the trade date (on or about November 15, 2023) to and including the determination date (May 21, 2025, subject to adjustment). If the final underlier level on the determination date is greater than the initial underlier level (set on the trade date), the return on your notes will be positive, subject to the maximum settlement amount (expected to be between $1,202.80 and $1,238.40 for each $1,000 principal amount note). If the final underlier level declines by up to 15.00% from the initial underlier level, you will receive the principal amount of your notes. If the final underlier level declines by more than 15.00% from the initial underlier level, the return on your notes will be negative. You could lose your entire investment in the notes. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC (“JPMorgan Financial”), as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes.
$125,157,168,784 JPMORGAN CHASE & CO. Debt Securities Warrants Units Purchase Contracts Guarantees JPMORGAN CHASE FINANCIAL COMPANY LLC Debt Securities Warrants We, JPMorgan Chase & Co., may from time to time offer and sell any of our securities listed above, in each case, in one or more series. Our subsidiary, JPMorgan Chase Financial Company LLC, which we refer to as “JPMorgan Financial,” also may from time to t
https://www.sec.gov/Archives/edgar/data/19617/000095010323005751/crt_dp192097-424b2.pdf
Timing Players and $$$$$$$
Registration Statement Nos. 333-270004 and 333-270004-01
Subject to Completion. Dated November 14, 2023.
Pricing Supplement to the Prospectus and Prospectus Supplement, each dated April 13, 2023, the Underlying Supplement No. 1-I dated April 13, 2023 and the Product Supplement No. 4-I dated April 13, 2023
JPMorgan Chase Financial Company LLC
Medium-Term Notes, Series A
$
Capped Buffered Enhanced Participation Equity Notes due 2025
(Linked to the MSCI EAFE® Index)
Fully and Unconditionally Guaranteed by JPMorgan Chase & Co.
The notes will not bear interest. The amount that you will be paid on your notes on the stated maturity date (May 23, 2025, subject to adjustment) is based on the performance of the MSCI EAFE® Index (which we refer to as the underlier) as measured from and including the trade date (on or about November 15, 2023) to and including the determination date (May 21, 2025, subject to adjustment). If the final underlier level on the determination date is greater than the initial underlier level (set on the trade date), the return on your notes will be positive, subject to the maximum settlement amount (expected to be between $1,202.80 and $1,238.40 for each $1,000 principal amount note). If the final underlier level declines by up to 15.00% from the initial underlier level, you will receive the principal amount of your notes. If the final underlier level declines by more than 15.00% from the initial underlier level, the return on your notes will be negative. You could lose your entire investment in the notes. Any payment on the notes is subject to the credit risk of JPMorgan Chase Financial Company LLC (“JPMorgan Financial”), as issuer of the notes, and the credit risk of JPMorgan Chase & Co., as guarantor of the notes.
$125,157,168,784 JPMORGAN CHASE & CO. Debt Securities Warrants Units Purchase Contracts Guarantees JPMORGAN CHASE FINANCIAL COMPANY LLC Debt Securities Warrants We, JPMorgan Chase & Co., may from time to time offer and sell any of our securities listed above, in each case, in one or more series. Our subsidiary, JPMorgan Chase Financial Company LLC, which we refer to as “JPMorgan Financial,” also may from time to t
https://www.sec.gov/.../0000950103.../crt_dp192097-424b2.pdf
Trigger dates:
11/15 DTCC Computershare wells fargo share close
11/16 FDIC/ Board meeting 10:00 am
11/17 NYSD Objective deadline FDIC
11/18 Congressional deadline
11/19 DTCC Deploy production
11/20 NYSC Drop dead for settlement money FDIC
11/27 DTCC destruction of documents
12/12 NYSD Fair and reasonable Hearing
12/27 Last day to close
I take no responsibility as to accuracy.
Imminent, Project Filmore. On or before December 12th Court Fairness FDIC Libor at least announcement IMO
JPM/FDIC will figure how to bury this without mentioning Washington Mutual. Some of the obvious:
Bucket 1
1. 50 B loan from FDIC at ? interest Rate
2. Bonds already issued from JPM
3. settlement from Libor
soon
Bucket 2
All 1.3 trillion x 15%-30% = value approx 200 Bil
next spring
Yes Ron and that is why I believe that JPM is using the transaction of the First Republic and Signature Bank to be used for the entire settlement transaction, The fillmore project. This should take place before the EOY. The numbers fits without accepting any guilt by JPM.
https://www.fdic.gov/resources/resolutions/asset-sales/?source=govdelivery&utm_medium=email&utm_source=govdelivery
Here ya go Ron
"3782.FINAL JUDGMENT AND ORDER GRANTING FINAL APPROVAL OF SETTLEMENT WITH DEFENDANTS MUFG BANK, LTD., THE NORINCHUKIN BANK, AND SOCIETE GENERALE: NOW, THEREFORE, IT IS HEREBY ORDERED, ADJUDGED AND DECREED: 1. This Court has subject matter jurisdiction over this action and personal jurisdiction over MUFG Bank, Ltd., The Norinchukin Bank, and Societe Generale for purposes of this settlement, and all members of the OTC Class (defined in paragraph 6, infra). 2. All terms in initial capitalization used in this Final Judgment and Order shall have the same meanings as set forth in the Settlement Agreement, unless otherwise defined herein. FINAL APPROVAL OF SETTLEMENT: 3. Upon review of the record, including the order preliminarily approving the Settlement and the submissions in support of the Settlement and preliminary certification, the Court finds that the Settlement resulted from arm's-length negotiations between highly experienced counsel and falls within the range of possible approval. 4. Pursuant to Rule 23(e) of the Federal Rules of Civil Procedure, the Court hereby grants final approval of the Settlement on the basis that it is fair, reasonable, and adequate as to, and in the best interests of, all OTC Class Members, within the meaning of, and in compliance with all applicable requirements of, Federal Rule of Civil Procedure 23; the Court directs the Settlement's consummation according to the terms. In reaching this conclusion, the Court has considered the factors set forth in Federal Rule of Civil Procedure 23(e) and City of Detroit v. Grinnell Corp., 495 F.2d 448, 463 (2d Cir. 1974), abrogated on other grounds by Goldberger v. Integrated Res., Inc., 209 F.3d 43 (2d Cir. 2000). Moreover, the Court concludes as follows, as further set forth herein. FINAL APPROVAL OF THE PLAN OF DISTRIBUTION: 5. Upon review of the record, the Court finds that the pro rata Plan of Distribution has a reasonable, rational basis and is fair and adequate. Therefore, the Plan of Distribution is hereby finally approved, as further set forth. CERTIFICATION OF THE SETTLEMENT CLASS: 6. Pursuant to Rule 23 of the Federal Rules of Civil Procedure, the Court certifies, solely for purposes of effectuating the Settlement set forth in the Settlement Agreement, the settlement class (the "Class" or "OTC Class" or "Settlement Class") that is defined as further set forth. 7. The Court's certification of the Class as provided herein is without prejudice to, or waiver of the rights of, any defendant to contest certification of any other class proposed in these actions (i.e., the actions included in the above-captioned multi-district litigation). The Court's findings in this Final Judgment and Order shall have no effect on the Court's order certifying for class treatment OTC Plaintiffs' antitrust claims or any certification order that may be issued in this action in the future. The findings that follow in paragraphs 89 are limited to this particular order and are made only in the context of this particular settlement, as further set forth. IV. CLASS COUNSEL: 10. Pursuant to Rule 23(g) of the Federal Rules of Civil Procedure, and solely for settlement purposes, the following firms are designated as settlement class counsel ("Class Counsel") for the Class: HAUSFELD LLP, SUSMAN GODFREY L.L.P. FINAL APPROVAL OF CLASS NOTICE: 11. Upon review of the record, the Court finds that the Class Notice constituted due, adequate, and sufficient notice of the Settlement and was the best notice practicable under the circumstances and satisfied the requirements of Federal Rules of Civil Procedure 23(c)(2)(B) and 23(e)(1), due process, and any other applicable law. Therefore, the Class Notice is finally approved, as further set forth. 26. There is no just reason for delay in the entry of this Final Judgment and Order, and immediate entry by the Clerk of the Court is expressly directed pursuant to Rule 54(b) of the Federal Rules of Civil Procedure. IT IS SO ORDERED. Societe Generale terminated. Motions terminated: (3733 in 1:11-md-02262-NRB, 625 in 1:11-cv-05450-NRB) MOTION to Approve Final Approval of Settlement with Defendants MUFG Bank, Ltd., The Norinchukin Bank, and Societe Generale filed by City of New Britain, Yale University, Jennie Stuart Medical Center, Inc., Mayor and City Council of Baltimore, Vistra Energy Corp. (Signed by Judge Naomi Reice Buchwald on 10/17/2023) Filed In Associated Cases: 1:11-md-02262-NRB, 1:11-cv-05450-NRB
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