The Firm represented the underwriters, led by BofA Securities, Inc., Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC as joint bookrunning managers, in connection with a public offering by The Charles Schwab Corporation (“Charles Schwab”) of 2,500,000 Depositary Shares, each representing a 1/100th interest in a share of 5.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, par value $0.01 per share, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share). The offering closed on April 30, 2020.
Charles Schwab is headquartered in San Francisco and, through its operating subsidiaries, provides a full range of wealth management, securities brokerage, banking, money management, custody and financial advisory services to individual investors and independent investment advisors.
The Simpson Thacher team included Roxane Reardon, Della Fok and Brittani Frink (Capital Markets); Jonathan Cantor and Edward Grais (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Loren Shokes (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).