Charles Schwab’s $2.5 Billion Preferred Stock Offering

Arnold & Porter advised Charles Schwab in the offering, while Simpson Thacher represented the underwriters.

The Charles Schwab Corporation announced a $2.5 billion preferred stock offering.

BofA Securities, Inc., Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC acted as joint bookrunning managers for the offering.

Charles Schwab is headquartered in San Francisco and, through its operating subsidiaries, provides a full range of wealth management, securities brokerage, banking, money management, custody and financial advisory services to individual investors and independent investment advisors.

The Arnold & Porter team was led by Corporate & Finance partner Teresa Johnson (picture) and included partners Julia Vax and Jeremy Willcocks, counsel Carlos Pelaez, associate Brandon Hauver; Tax partner David Sausen and associate Anna Parnes; and Compensation and Benefits counsel Kathleen Wechter.

The Simpson Thacher team advising the underwriters included Roxane Reardon, Della Fok and Brittani Frink (Capital Markets); Jonathan Cantor and Edward Grais (Tax); Jeanne Annarumma (Executive Compensation and Employee Benefits); Loren Shokes (Intellectual Property); and Jennie Getsin (FINRA and Blue Sky).

Involved fees earner: Brandon Hauver – Arnold & Porter Kaye Scholer LLP; Teresa Johnson – Arnold & Porter Kaye Scholer LLP; Anna Parnes – Arnold & Porter Kaye Scholer LLP; Carlos Pelaez – Arnold & Porter Kaye Scholer LLP; David Sausen – Arnold & Porter Kaye Scholer LLP; Julia Vax – Arnold & Porter Kaye Scholer LLP; Kathleen Wechter – Arnold & Porter Kaye Scholer LLP; Jeremy Willcocks – Arnold & Porter Kaye Scholer LLP; Jeanne Annarumma – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Della Fok – Simpson Thacher & Bartlett; Brittani Frink – Simpson Thacher & Bartlett; Jennie Getsin – Simpson Thacher & Bartlett; Edward Grais – Simpson Thacher & Bartlett; Roxane Reardon – Simpson Thacher & Bartlett; Loren Shokes – Simpson Thacher & Bartlett;

Law Firms: Arnold & Porter Kaye Scholer LLP; Simpson Thacher & Bartlett;

Clients: Bank of America Securities; Citigroup Global Markets Ltd; Credit Suisse Securities (USA) LLC; Goldman Sachs & Co.; J.P. Morgan Securities LLC; Morgan Stanley; The Charles Schwab Corporation;

Author: Ambrogio Visconti