The Firm represented the underwriters, led by Citigroup Global Markets Inc., Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Securities LLC and Wells Fargo Securities, LLC as joint book-running managers, in connection with a public offering of 17,000,000 Depositary Shares, each representing a 1/40th interest in a share of 6.00% Non-Cumulative Perpetual Preferred Stock, Series B, par value $0.01 per share, with a liquidation preference of $1,000 per share, of The Charles Schwab Corporation. The Underwriters have the right to purchase up to an additional 2,550,000 depositary shares at the public offering price to cover over-allotments. The offering closed on June 6, 2012.
The Charles Schwab Corporation is headquartered in San Francisco and, through its operating subsidiaries, provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors.
The Simpson Thacher team included Roxane Reardon, Joia Lee, Tyler Flood and Emiko Kurotsu (Capital Markets); Mark Chorazak (Bank Regulatory); Jonathan Cantor and Danny Salinas (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Jennie Getsin (FINRA and Blue Sky).