Charles Schwab to price fixed-, floating-rate notes due 2027, 2032

By William Gullotti

Buffalo, N.Y., March 1 – Charles Schwab Corp. is offering three tranches of notes, including two fixed-rate tranches due in 2027 and 2032 and a series of floating-rate senior notes due 2027, according to a 424B5 filing with the Securities and Exchange Commission on Tuesday.

The floaters will bear interest at SOFR plus a spread.

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 bookrunning managers for the offering.

The Bank of New York Mellon Trust Co., NA will be the trustee.

Arnold & Porter Kaye Scholer LLP is acting as legal counsel for the issuer for matters relating to the bond issue. Simpson Thacher & Bartlett LLP is legal counsel for the underwriters.

Proceeds will be used for general corporate purposes.

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

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