Charles Schwab intends to sell fixed-rate senior notes in two parts

By Devika Patel

Knoxville, Tenn., Oct. 29 – Charles Schwab Corp. plans to offer senior notes in two tranches, according to a 424B5 filing with the Securities and Exchange Commission.

The notes will be sold in fixed-rate tranches due in 2024 and in 2029.

The notes will have make-whole calls until one month prior to maturity for the 2024 notes and until three months prior to maturity for the 2029 notes and par calls after those dates.

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

Proceeds will be used for general corporate purposes, including repurchasing common stock.

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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