Preheat oven to 275 degrees F. Line two rimmed baking sheets with parchment paper.
Place the cereal, pretzels and nuts in a large mixing bowl and mix gently so you don't break the Chex cereal.
Place the butter, syrups, sugar, pepper seasoning, paprika, in a microwave safe bowl. Microwave in 30 second increments, stirring after each, until the butter and sugar are melted together. The mixture should look caramel-y and everything should be combined and smooth.
Pour the caramel butter mixture over the cereal mixture and toss well to combine. You want to make sure all the bits are coated!
Pour and spread the Chex mix evenly on to the two baking sheets. Place each sheet on its own rack (both as close to the middle of the oven as possible) and bake for 60 minutes, tossing well every 15 minutes and switching the baking sheets between the two racks each time. Remove from the oven after the full baking time and continue to toss the mixture every 10 minutes until it cools so the mix doesn’t all clump together. Store in a sealed container.