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Charles Schwab to price fixed-rate notes, floaters in three parts
By Devika Patel
Knoxville, Tenn., May 17 – Charles Schwab Corp. will conduct an offering of notes in three tranches, according to a 424B5 filed with the Securities and Exchange Commission.
The company is selling two fixed-rate tranches due 2021 and 2025 and a floating-rate tranche due 2021.
The fixed-rate notes feature a make-whole call until one month prior to maturity and then a par call after that. The floaters are callable at par one month prior to maturity.
BofA Merrill Lynch, Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Goldman Sachs & Co. and J.P. Morgan Securities LLC are the bookrunners.
Proceeds will be used for general corporate purposes, including redeeming or repaying the company’s $275 million of 2.2% senior notes due July 25, 2018.
Charles Schwab is a San Francisco-based company that provides wealth management, securities brokerage, banking, asset management, custody and financial advisory services.
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