SCHWAB ANNOUNCES REDEMPTION OF ALL OUTSTANDING SHARES OF ITS PERPETUAL NON-CUMULATIVE PREFERRED SHARES, SERIES A
WESTLAKE, Texas, September 22, 2022–(BUSINESS WIRE)–Charles Schwab Corporation today announced that it will redeem on November 1, 2022 all 400,000 outstanding shares of its Fixed to Floating Rate Non-Cumulative Perpetual Preferred Shares, Series A (“ Series One Preferred Share”) (CUSIP 808513AE5) at a redemption price of $1,000 per share.
The redemption price does not include the regular quarterly dividend which, if declared, will be paid separately in the customary manner on November 1, 2022 to holders of record on the record date for such dividend payment.
The Series A Preferred Shares are held in book-entry form through The Depository Trust Company (“DTC”) and will be redeemed in accordance with DTC’s procedures. Payment to DTC for the Series A Preferred Shares will be made by Equiniti Trust Company as Redemption Agent. The address of Equiniti Trust Company is 1110 Center Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120-1400, Attention: Corporate Actions.
About Charles Schwab
Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 34.0 million active brokerage accounts, 2.3 million corporate pension plan members, 1.7 million bank accounts and $7.13 trillion in client assets as of August 31, 2022. its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management , custody and financial advice to individual investors and independent investment advisers. Its brokerage subsidiaries, Charles Schwab & Co., Inc., TD Ameritrade, Inc., and TD Ameritrade Clearing, Inc. (SIPC Members, https://www.sipc.org), and their affiliates offer a full range investment products and services, including a wide selection of mutual funds; financial planning and investment advice; pension plan and equity compensation plan services; referrals to paid independent investment advisers; and custody, operations and trading support for fee-based independent investment advisors through Schwab Advisor Services. Its main banking subsidiary, Charles Schwab Bank, SSB (Member FDIC and Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.
TD Ameritrade, Inc. and TD Ameritrade Clearing, Inc. are separate but affiliated companies and subsidiaries of TD Ameritrade Holding Corporation. TD Ameritrade Holding Corporation is a wholly owned subsidiary of The Charles Schwab Corporation. TD Ameritrade is a trademark jointly owned by TD Ameritrade IP Company, Inc. and The Toronto-Dominion Bank.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220922005898/en/