The Firm represented the underwriters, led by BofA Securities, Inc., Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC as joint bookrunning managers, in connection with the public offerings by The Charles Schwab Corporation (“Charles Schwab”) of (i) 2,500,000 Depositary Shares, each representing a 1/100th interest in a share of 4% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series H, par value $0.01 per share, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share) and (ii) $2 billion of Senior Notes, consisting of $1,250 million of 0.9% Senior Notes due 2026 and $750 million of 1.65% Senior Notes due 2031. The offerings closed on December 11, 2020.
Charles Schwab is a savings and loan holding company and engages, through its subsidiaries, in wealth management, securities brokerage, banking, asset management, custody and financial advisory services.
The Simpson Thacher team included Roxane Reardon and Della Fok (Capital Markets); Jonathan Cantor and Edward Grais (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Genevieve Dorment and Loren Shokes (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).