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Charles Schwab to redeem $600 million fixed-to-floating preferreds
By Wendy Van Sickle
Columbus, Ohio, Oct. 20 – Charles Schwab Corp. plans to redeem all $600 million, or 600,000 shares, of its outstanding series E 4.625% fixed-to-floating rate non-cumulative perpetual preferred stock (Cusip: 808513AP0) on Dec. 1, according to a press release.
The depositary shares will be redeemed at $1,000 apiece. The regular quarterly dividend will be paid separately on Dec. 1.
Equiniti Trust Co. is the redemption agent.
Charles Schwab is a San Francisco-based company that provides wealth management, securities brokerage, banking, asset management, custody and financial advisory services.
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