Charles Schwab offers fixed-to-floating rate senior notes due 2029; terms to be set at pricing

Filed June 25, 2026 · ~2 min read

Key Changes

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  Schwab is offering senior unsecured notes with a hybrid interest structure: a fixed rate from issuance until mid-2028, then a floating rate based on compounded SOFR plus a spread until maturity in 2029. Specific rates and offering size to be determined at pricing.

  The Offering verify on EDGAR →
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  Net proceeds will be used for general corporate purposes, with no specific allocation disclosed. The company retains full discretion over capital deployment.

  Use of Proceeds verify on EDGAR →
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  The notes are structurally subordinated to all debt and liabilities of Schwab's subsidiaries, meaning subsidiary creditors (including trade creditors) must be paid in full before noteholders have any claim to subsidiary assets.

  Risk Factors verify on EDGAR →