08:02 AM EDT, 05/07/2024 (MT Newswires) -- JPMorgan Chase ( JPM ) said Monday that Visa (V) has accepted the bank's tender of its 37.2 million shares of Visa class B-1 common stock in exchange for a combination of Visa class B-2 common stock and C common stock.

JPMorgan ( JPM ) said this led to an approximately $8 billion gain for the bank relating to the Visa class C common stock, and that it plans to donate approximately $1 billion worth of the stock to the JPMorgan Chase Foundation.

Price: 192.09, Change: +0.09, Percent Change: +0.05