SCHWAB CHARLES CORP 8-K

What Happened
The Charles Schwab Corporation filed an 8-K on June 29, 2026, announcing the issuance of 4.603% fixed-to-floating rate senior notes due 2029. The offering produced approximately $995.5 million in net proceeds after underwriting discounts, commissions and estimated offering expenses. The notes were issued under Schwab’s Senior Indenture (dated Nov. 14, 2025) as supplemented by a Third Supplemental Indenture dated June 29, 2026. Schwab entered into an underwriting agreement on June 25, 2026, with Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC acting as representatives of the underwriters.

Key Details

• Security: 4.603% fixed-to-floating rate senior notes due 2029.
• Net proceeds: approximately $995.5 million (after underwriting discounts/commissions and estimated expenses).
• Transaction dates: Underwriting Agreement dated June 25, 2026; Third Supplemental Indenture dated June 29, 2026; prospectus supplement dated June 25, 2026.
• Underwriters: Citigroup Global Markets Inc. and Goldman Sachs & Co. LLC (representatives). Related agreements and a legal opinion were filed as exhibits to the 8-K.

Why It Matters
This is a near-$1 billion debt raise that affects Schwab’s capital structure and upcoming interest expense profile. The notes are senior obligations (issued under the company’s senior indenture) and carry a fixed coupon that later converts to a floating rate, which matters for how interest costs will behave if market rates change. Schwab’s filing provides the formal documentation investors can review (indenture, underwriting agreement, form of note, legal opinion) but does not include any commentary on the use of proceeds beyond the issuance itself.