Charles Schwab to price fixed-, floating-rate notes due 2026, 2031; talk emerges

By Rebecca Melvin and Cristal Cody

Concord, N.H., May 11 – Charles Schwab Corp. is offering three tranches of notes, including two fixed-rate tranches due in 2026 and 2031 and a series of floating-rate senior notes due 2026, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday morning.

The floaters due May 13, 2026 are talked at SOFR plus a spread, according to a market source.

The fixed-rate notes due May 13 of 2026 and 2031 are talked in the area of Treasuries plus 55 bps and the area of Treasuries plus 90 bps, respectively, the source said.

All tranches have make-whole calls and then a par call either one month or three months before maturity.

BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes.

Charles Schwab is a San Francisco-based financial services company.

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