Charles Schwab Issues $1.5 Billion 6.100% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L – Underwriting Agreement Details and Key Terms 10, 51

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Charles Schwab Corporation has announced a $1.5 billion offering of 6.100% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series L. The offering consists of 1,500,000 depositary shares, each representing a 1/100th interest in a Series L Preferred Stock, and is led by a syndicate of major investment banks. This issuance aims to strengthen Schwab’s capital base, with the depositary shares intended to be listed on the NYSE within 30 days of initial delivery.

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