SCHW-PJ Raises $2.58B in Fixed-to-Floating Notes

On 2026-08-12, SCHW-PJ issued $2.58 billion of senior fixed-to-floating notes with maturities in 2032 and 2037. The issuance increases the issuer's volume of senior debt obligations for 2026 and specifically adds further fixed-to-floating paper to its liability profile. This offering arrives after two earlier capital markets actions in 2026: a $2.25 billion fixed-to-floating senior notes offering (due 2030 and 2037) reported on 2026-05-21, and a separate $1.00 billion issuance of 4.603% senior notes due 2029 reported on 2026-06-29. Taken together, the August issuance supplements those financings and represents continued use of the senior note format and, in multiple instances this year, the fixed-to-floating structure. For investors, the material facts to note are the instrument type (senior fixed-to-floating notes), the aggregate size ($2.58B), and the stated maturities (2032 and 2037). These are disclosed as of 2026-08-12 and should be considered alongside the issuer's other 2026 debt placements and the earlier reported change to the shareholder rights structure on 2026-04-22.