Mr Cooper Group Inc (COOP)

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JPMorgan (JPM) to Recognize $8B Gain From Visa Share Exchange

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Are these related to the WAMU VISA shares, that JPM bought for $50M?

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JPMorgan (JPM) to Recognize $8B Gain From Visa Share Exchange

JPMorgan Chase (NYSE:JPM) said on Monday that Visa (V) accepted its tender of 37.2M shares of Visa class B-1 common stock in the card network's exchange offer, resulting in a gain of ~$8B for the bank relating to the Visa class C common stock, which is held at fair value.

The Visa Class B-2 common stock is held at the nominal carryover basis of the tendered Visa Class B-1 common stock, JPMorgan (JPM) said.

The Wall Street bank also said it plans to donate a portion of Visa (V) class C common stock with a value of ~$1B to the JPMorgan Chase Foundation. The donation will be recorded in non-compensation expense in 2024 and is expected to prefund JPMorgan's (JPM) anticipated contributions to the Foundation for the next several years.
Earlier, Visa (V) said it accepted a total of 240.7M shares of class B-1 common stock in the exchange offer.
More on JPMorgan Chase

https://www.msn.com/en-us/money/companies/jpmorgan-chase-records-8b-gain-from-exchange-of-visa-b-1-shares/ar-BB1lVoqb