Charles Schwab (SCHW) has just announced they will be selling a new preferred offering. While the company doesn’t list the redemption of the SCHW-C as a ‘use of proceeds’ I think there is a high likelihood they will call this 6% issue as it became redeemable on 12/1.
The company already has a couple issues outstanding which can be seen here.
The issue will be investment grade, non-cumulative and qualified.
Yield talk is in the 4.375% area per Chuck P from his Schwab rep.
Chuck P was on this one early.