TD Ameritrade 2018 Annual Report

TD AMERITRADE HOLDING CORPORATION NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 72 Senior Notes —As of September 30, 2018 and 2017, the Company had $2.55 billion aggregate principal amount of unsecured, fixed-rate Senior Notes due during calendar years 2019, 2022, 2025 and 2027 (together, the "Senior Notes"). The Company's Senior Notes were each sold through a public offering and pay interest semi-annually in arrears. Key information about the Senior Notes outstanding as of September 30, 2018 is summarized in the following table (dollars in millions): Description Date Issued Maturity Date Aggregate Principal Interest Rate 2019 Notes . . . . . . . . . . . . . . November 25, 2009 December 1, 2019 $500 5.600% 2022 Notes . . . . . . . . . . . . . . March 4, 2015 April 1, 2022 $750 2.950% 2025 Notes . . . . . . . . . . . . . . October 17, 2014 April 1, 2025 $500 3.625% 2027 Notes . . . . . . . . . . . . . . April 27, 2017 April 1, 2027 $800 3.300% The Company used the proceeds from the issuance of the 2027 Notes during fiscal year 2017 to finance a portion of the cash consideration paid by the Company in its acquisition of Scottrade. The 2022 Notes, 2025 Notes and 2027 Notes are not required to be guaranteed by any of the Company's subsidiaries. Prior to April 21, 2017, the 2019 Notes were required to be jointly, severally, fully and unconditionally guaranteed by each of the Company's current and future subsidiaries that was or became a borrower or a guarantor under the TD Ameritrade Holding Corporation CreditAgreement described below. As ofApril 21, 2017, the obligations under the TDAmeritrade Holding Corporation Credit Agreement are no longer guaranteed by any subsidiary of the Parent; therefore the guarantee of the 2019 Notes was released. The Company may redeem the 2019 Notes, in whole at any time or in part from time to time, at a redemption price equal to the greater of (a) 100% of the principal amount of the notes being redeemed, and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed, discounted to the date of redemption on a semi-annual basis at the comparable U.S. Treasury rate, plus 35 basis points, plus accrued and unpaid interest to the date of redemption. The Company may redeem the 2022 Notes, 2025 Notes and 2027 Notes, in whole or in part, at any time prior to February 1, 2022, January 1, 2025 and January 1, 2027, respectively, at a redemption price equal to the greater of (a) 100% of the principal amount of the notes being redeemed, and (b) the sum of the present values of the remaining scheduled payments of principal and interest on the notes being redeemed, discounted to the date of redemption on a semi-annual basis at the comparable U.S. Treasury rate, plus 15 basis points in the case of the 2022 Notes, 25 basis points in the case of the 2025 Notes and 20 basis points in the case of the 2027 Notes, plus, in each case, accrued and unpaid interest to the date of redemption. The Company may redeem the 2022 Notes, 2025 Notes and 2027 Notes, in whole or in part, at any time on or after February 1, 2022, January 1, 2025 and January 1, 2027, respectively, at a redemption price equal to 100% of the principal amount of the notes being redeemed, plus, in each case, accrued and unpaid interest to the date of redemption. On October 30, 2018, the Company sold, through a public offering, an additional $1.0 billion aggregate principal amount of unsecured senior notes, consisting of both variable and fixed-rate notes. Key information regarding the recent debt issuance is summarized in the following table (dollars in millions): Description Date Issued Maturity Date Aggregate Principal Interest Rate 2021 Notes . . . . . . . . . October 30, 2018 November 1, 2021 $600 Variable 2024 Notes . . . . . . . . . October 30, 2018 April 1, 2024 $400 3.75% For additional details regarding the October 30, 2018 debt issuance, see Note 24, Subsequent Event. Lines of Credit — TD Ameritrade Clearing, Inc. ("TDAC"), a clearing broker-dealer subsidiary of the Company, utilizes secured uncommitted lines of credit for short-term liquidity. Under the secured uncommitted lines, TDAC borrows on a demand basis from two unaffiliated banks and pledges client margin securities as collateral. Advances