Visa Files Terms for IPO

Updated from 12:01 p.m. EST

Visa hopes to raise as much as $18.76 billion in one of the largest initial public offerings on record, according to the proposed terms filed Monday with the Securities and Exchange Commission.

The San Francisco-based credit card company plans to offer 406 million shares for between $37 and $42 apiece, according to the regulatory filing. The company proposes the shares would trade on the New York Stock Exchange under the symbol, "V."

Underwriters, including leads JPMorgan Chase(JPM Quote) and Goldman Sachs(GS Quote), would have the option to purchase as much as 40.6 million additional shares. ...