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Subsequent Events
3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Senior Notes Offerings
On April 29, 2022, the SVB Financial Group issued $350 million of 4.345% Senior Fixed Rate/Floating Rate Notes due on April 2028 ("Senior Notes due 2028") and $450 million of 4.570% Senior Fixed Rate/Floating Rate Notes due on April 2033 ("Senior Notes due 2033").
The Senior Notes due 2028 will begin semi-annual fixed interest payments starting on October 29, 2022 and every October 29th and April 29th and ending on April 29, 2027 at a fixed rate of 4.345%. Beginning on April 29, 2027, the Senior Notes due 2028 will begin quarterly interest payments on July 29, 2027, October 29, 2027, January 29, 2028 and October 29, 2028 as a floating rate of compounded SOFR plus 1.713%. The Senior Notes due 2028 will be redeemable at SVB Financial Group's option, in whole but not in part, on April 29, 2027 and on or after the 30th day prior to the 2028 maturity date at a redemption price equal to 100% of the principal amount of the Senior Notes due 2028, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
The Senior Notes due 2033 will begin semi-annual fixed interest payments starting on October 29, 2022 and every October 29th and April 29th and ending on April 29, 2032 at a fixed rate of 4.570%. Beginning on April 29, 2032, the Senior Notes due 2033 will begin quarterly interest payments on July 29, 2032, October 29, 2032, January 29, 2033 and October 29, 2033 as a floating rate of compounded SOFR plus 1.967%. The Senior Notes due 2028 will be redeemable at SVB Financial Group's option, in whole but not in part, on April 29, 2032 and on or after the 90th day prior to the 2033 maturity date at a redemption price equal to 100% of the principal amount of the Senior Notes due 2033, plus accrued and unpaid interest, if any, to, but excluding, the redemption date.
The notes will be senior unsecured obligations of SVB Financial Group and will rank equally with all of our other unsecured and unsubordinated indebtedness.