The Firm represented the underwriters, led by BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC as joint bookrunning managers, in connection with the public offering by The Charles Schwab Corporation (“Charles Schwab”) of $3 billion of Senior Notes, consisting of $500 million of Floating Rate Senior Notes due 2027, $1.5 billion of 2.45% Senior Notes due 2027 and $1 billion of 2.9% Senior Notes due 2032. The offering of the Senior Notes closed on March 3, 2022.
The Firm also represented the underwriters, led by BofA Securities, Inc., Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC as joint bookrunning managers, in connection with the public offering by Charles Schwab of 750,000 Depositary Shares, each representing a 1/100th interest in a share of 5% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series K, par value $0.01 per share, with a liquidation preference of $100,000 per share (equivalent to $1,000 per depositary share). The offering of the preferred stock closed on March 4, 2022.
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 Pia Figuerola (Capital Markets); Adam J. Cohen and Spencer Sloan (Bank Regulatory); Jonathan Cantor and Adam Hersch (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Genevieve Dorment (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).