0001193125-22-063247.txt : 20220303 0001193125-22-063247.hdr.sgml : 20220303 20220302190531 ACCESSION NUMBER: 0001193125-22-063247 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20220303 DATE AS OF CHANGE: 20220302 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: SCHWAB CHARLES CORP CENTRAL INDEX KEY: 0000316709 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 943025021 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-251156 FILM NUMBER: 22705852 BUSINESS ADDRESS: STREET 1: 3000 SCHWAB WAY CITY: WESTLAKE STATE: TX ZIP: 76262 BUSINESS PHONE: 817-859-5000 MAIL ADDRESS: STREET 1: 3000 SCHWAB WAY CITY: WESTLAKE STATE: TX ZIP: 76262 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SCHWAB CHARLES CORP CENTRAL INDEX KEY: 0000316709 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] IRS NUMBER: 943025021 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 3000 SCHWAB WAY CITY: WESTLAKE STATE: TX ZIP: 76262 BUSINESS PHONE: 817-859-5000 MAIL ADDRESS: STREET 1: 3000 SCHWAB WAY CITY: WESTLAKE STATE: TX ZIP: 76262 FWP 1 d48022dfwp.htm FWP FWP

Filed Pursuant to Rule 433

Dated March 1, 2022

Registration Statement: No. 333-251156

Explanatory Note: This Rule 433 filing is being submitted solely to correct typographical errors in certain dates in the Optional Redemption Make Whole Call (marked with a dagger) and supersedes the previously submitted Rule 433 filing.

The Charles Schwab Corporation

$500,000,000 FLOATING RATE SENIOR NOTES DUE 2027

$1,500,000,000 2.450% SENIOR NOTES DUE 2027

$1,000,000,000 2.900% SENIOR NOTES DUE 2032

SUMMARY OF TERMS

 

Issuer:    The Charles Schwab Corporation (“CSC”), a Delaware corporation
Expected Ratings: (Moody’s / S&P / Fitch)*    A2 / Stable, A / Stable, A / Stable
Security Type:    Senior Unsecured Notes
Pricing Date:    March 1, 2022
Settlement Date:    March 3, 2022 (T+2)
  

Floating Rate Senior Notes due 2027

(the “2027 Floating Rate Senior Notes”)

   

$1,500,000,000 2.450% Senior Notes due 2027

(the “2027 Senior Notes”)

   

$1,000,000,000 2.900% Senior Notes due 2032

(the “2032 Senior Notes”)

Principal Amount:    $500,000,000    $1,500,000,000    $1,000,000,000
Maturity Date:    March 3, 2027    March 3, 2027    March 3, 2032
Interest Payment Dates:    March 3, June 3, September 3 and December 3, commencing on June 3, 2022    March 3 and September 3, commencing on September 3, 2022    March 3 and September 3, commencing on September 3, 2022
Interest Record Dates:    February 16, May 19, August 19 and November 18    February 16 and August 19    February 16 and August 19
Day Count:    Actual/360    30/360    30/360
Benchmark Treasury:    N/A    1.875% UST due February 28, 2027    1.875% UST due February 15, 2032
Benchmark Treasury Price / Yield:    N/A    101-141⁄4 / 1.573%    101-11+ / 1.726%
Spread to Benchmark Treasury:    N/A    +90 bps    +120 bps
Yield to Maturity:    N/A    2.473%    2.926%
Coupon:    Compounded SOFR (as defined under “Description of the Notes—Interest—Floating Rate Notes” in the preliminary prospectus supplement dated March 1, 2022) +105 bps    2.450%    2.900%

Public Offering Price:    100.000%    99.892%    99.776%
Gross Proceeds to CSC:    $500,000,000    $1,498,380,000    $997,760,000
Underwriting Discount per note paid by CSC:    0.600%    0.600%    0.650%
Aggregate Underwriting Discount paid by CSC:    $3,000,000    $9,000,000    $6,500,000
Net Proceeds to CSC (after the underwriting discount, but before deducting offering expenses):    $497,000,000    $1,489,380,000    $991,260,000

 

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Optional Redemption:

Make-Whole Call:

    N/A    On or after September 3, 2022 and prior to February 3, 2027, CSC may redeem some or all of the 2027 Senior Notes at any time at a redemption price equal to the greater of (i) 100% of the principal amount of the 2027 Senior Notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of interest and principal thereon (exclusive of interest accrued and unpaid to, but not including, the redemption date), assuming for this purpose that the 2027 Senior Notes would mature on February 3, 2027†, discounted to the redemption date on a semiannual basis at the Treasury Rate plus 15 basis points, plus, in either case, accrued and unpaid interest to, but not including, the redemption date.    On or after September 3, 2022 and prior to December 3, 2031, CSC may redeem some or all of the 2032 Senior Notes at any time at a redemption price equal to the greater of (i) 100% of the principal amount of the 2032 Senior Notes to be redeemed or (ii) the sum of the present values of the remaining scheduled payments of interest and principal thereon (exclusive of interest accrued and unpaid to, but not including, the redemption date), assuming for this purpose that the 2032 Senior Notes would mature on December 3, 2031†, discounted to the redemption date on a semiannual basis at the Treasury Rate plus 20 basis points, plus, in either case, accrued and unpaid interest to, but not including, the redemption date.
Par Call:    On or after February 3, 2027, CSC may redeem some or all of the 2027 Floating Rate Senior Notes at any time at a redemption price (calculated by CSC) equal to 100% of the principal amount of the 2027 Floating Rate Senior Notes to be redeemed plus accrued and unpaid interest to, but not including, the redemption date.    On or after February 3, 2027, CSC may redeem some or all of the 2027 Senior Notes at any time at a redemption price (calculated by CSC) equal to 100% of the principal amount of the 2027 Senior Notes to be redeemed plus accrued and unpaid interest to, but not including, the redemption date.    On or after December 3, 2031, CSC may redeem some or all of the 2032 Senior Notes at any time at a redemption price (calculated by CSC) equal to 100% of the principal amount of the 2032 Senior Notes to be redeemed plus accrued and unpaid interest to, but not including, the redemption date.
CUSIP / ISIN:    808513 BZ7/ US808513BZ79    808513 BY0/ US808513BY05    808513 CA1/ US808513CA10
Joint Book-Running Managers:   

BofA Securities, Inc.

Citigroup Global Markets Inc.

Credit Suisse Securities (USA) LLC

J.P. Morgan Securities LLC

Morgan Stanley & Co. LLC

Wells Fargo Securities, LLC

      

 

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Senior Co-Manager:    Goldman Sachs & Co. LLC      
Co-Managers:   

Barclays Capital Inc.

HSBC Securities (USA) Inc.

PNC Capital Markets LLC

U.S. Bancorp Investments, Inc.

      

 

*

Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time.

 

 

The Issuer has filed a registration statement (including a preliminary prospectus supplement and accompanying prospectus) with the U.S. Securities and Exchange Commission (the “SEC”) for the offering to which this communication relates. Before you invest, you should read the preliminary prospectus supplement and accompanying prospectus and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the preliminary prospectus supplement and accompanying prospectus if you request it by calling BofA Securities, Inc. toll-free at (800) 294-1322, Citigroup Global Markets Inc. toll-free at (800) 831-9146, Credit Suisse Securities (USA) LLC toll-free at (800) 221-1037, J.P. Morgan Securities LLC collect at (212) 834-4533, Morgan Stanley & Co. LLC at (866) 718-1649 or Wells Fargo Securities, LLC at (800)-645-3751.

Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.

 

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