Charles Schwab Corp. (SCHW)

Charles Schwab Corporation 5.375% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series G Depositary Receipt is a preferred equity security issued by The Charles Schwab Corporation, a prominent U.S.-based provider of financial services. This asset represents depositary shares, each corresponding to a fractional interest (1/100th) in the Series G Preferred Stock. The Series G preferred shares are structured to pay a fixed dividend rate of 5.375% until a specified reset date, after which the rate may be periodically updated according to defined terms. As non-cumulative preferred shares, missed dividend payments are not accrued for future payment. These securities do not confer voting rights to holders, but they take precedence over common stock for dividend distributions, offering a higher yield in exchange for limited governance participation. Series G preferred shares are perpetual, lacking a set maturity date, which means they remain outstanding unless redeemed by the issuer. Notably, all outstanding Series G Depositary Shares were redeemed by Charles Schwab Corporation as of June 2025, and the series was officially eliminated, emphasizing both the flexibility and the call feature often associated with such securities in capital management strategies of major financial institutions.