Schwab Pricing Guide

8/7/2019 Schwab Pricing Guide

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Charles SchwabPricing Guide or

Individual InvestorsPricing in ormation in this Guide supersedesprior versions.

January 2011





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IntroductionSchwab provides a broad range o value-added ser-

vices, some o which have associated ees. Thisdocument provides you with an overview o standardpricing or commission rates, transaction ees, andkey account charges and service ees.

In ormation detailed in this Guide also applies tointernational clients (clients residing, or who latermove, outside the U.S., its territories and posses-sions). Commissions and ees described in thisGuide are stated in U.S. dollars. Not all products andservices are available in all countries, and may besubject to country-specifc restrictions. A separatepricing guide applies to clients associated withCharles Schwab, Hong Kong, Ltd.

Certain clients may have a di erent pricing structurebased on assets or activities in their accounts atSchwab.

DefnitionsAccounts o Your Household —Accounts that have beenlinked in accordance with Schwab’s householdingguidelines. Schwab makes a reasonable e ort toautomatically link qualifed accounts o persons withthe same last name at the same home address,

including accounts held at certain Schwab a fliates.

Schwab aggregates the balances and activities o Accounts o Your Household to determine or yourbrokerage accounts: the interest rate that certaincash balances receive, whether those accounts mayquali y or certain ee waivers, and whether thoseaccounts may quali y or certain benefts or eatures(“Household Calculations”).

Schwab may consider other accounts to be in yourhousehold upon your request i account holders arein the same amily, there is a dependent relationship,

or in certain other similar instances at Schwab’sdiscretion. You are responsible or identi ying accountsthat should be linked or purposes o determiningAccounts o Your Household and Household Calcula-tions. For example, i you or other members o your

amily who reside at your home address have a

di erent last name (including a spouse, i applicable),you need to contact Schwab to request that wecombine your accounts or purposes o Household



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Calculations. I an account is added to Accounts o Your Household, any impact on Household Calcula-tions may not take e ect until the ollowing quarter.

Householding rules applicable to fduciary accountsare as ollows: IRA, Custodial and certain Trustaccounts that meet Schwab’s householding guide-lines generally will be automatically included inAccounts o Your Household and Household Calcula-

tions. I you have an IRA, Custodial or Trust accountand you are acting in a fduciary capacity, it is yourresponsibility and not Schwab’s to consider whetherit is appropriate to consider the balances andactivities o that account in Household Calculations,which could beneft the fduciary account and/or

other Accounts o Your Household. You must contactSchwab to request that the balances and activitieso your fduciary account not be included in Accountso Your Household and Household Calculations i you determine that it is not appropriate.

Qualifed Retirement Plan (QRP), Keogh, CompanyRetire ment Account (CRA), Pension Trust, Individual401(k) and 403(b)(7) accounts (collectively,“Retirement Plan Accounts”) are not automaticallyincluded in Household Calculations. However, orcertain services, the account holder o theRetirement Plan Account may elect to include theRetirement Plan Account in Accounts o YourHousehold and Household Calculations by providingSchwab with written instructions to do so. Pleasecontact Schwab or the required orm.

Automated Phone Trades —Trades placed through

Schwab by Phone™ and TeleBroker®.Direct Access —A eature that allows trades to beplaced directly through an electronic communicationsnetwork, market maker or exchange.

Household Balance —The total combined value, over

a given period o time, o the assets in Accounts o Your Household, including margin balances and otheroutstanding debit balances like mortgage, HomeEquity Line o Credit (HELOC) and credit card bal-ances. In order to determine qualifcation or any eewaiver and/or interest rate, Schwab will add up your

daily Household Balances or the applicable timeperiod, then divide this total by the number o daysin the period.



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Minimum Deposit Requirement —The minimum amountthat must be deposited and maintained in an accountto avoid account closure. For Schwab One International®Accounts and Schwab One International® Accounts orclients associated with Charles Schwab, U.K., Limited,the amount that must be maintained in an account is$1,000—lower than the Minimum Deposit Requirement.

Online Trades —Trades placed through Schwab.com(which includes schwab-global.com, schwab.co.uk,schwab.com.hk, and the Chinese-language versiono Schwab.com), StreetSmart.com®, StreetSmart Pro®,StreetSmart Edge™, Schwab Wireless, or Schwabso tware.

Minimum Deposit RequirementsAccount Type

Minimum DepositRequirement

Schwab One®Accountand Schwab One®Trust

$1,000 per accountThe Minimum DepositRequirement is waivedi you open a linkedSchwab Bank High YieldInvestor Checking®account or establishan incoming monthlytrans er o at least $100through direct deposit orSchwab MoneyLink®

Schwab IRA (includesTraditional, Rollover,Roth and Roth Conversionaccounts), EducationSavings Account andSchwab One®OrganizationAccount

$1,000 per accountThe Minimum DepositRequirement is waived i you establish an incom-ing monthly trans er o at least $100 throughdirect deposit or SchwabMoneyLink®

Schwab One®EstateAccount, Inherited IRA,Schwab Account and

College Saver Account

$1,000 per account

Schwab One® CustodialAccount and Custodial IRA

$100 per account

Schwab OneInternational® Account

$25,000 per account

Schwab One International®Account or clients associ-ated with Charles Schwab,U.K., Limited

$10,000 per account



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Accounts Not Subject to Minimum DepositRequirement

The Minimum Deposit Requirement does not apply tothe ollowing account types: SEP-IRA, SARSEP-IRA,SIMPLE IRA, Qualifed Retirement Plan, Keogh,Company Retirement Account, Pension Trust,Individual 401(k) and 403(b)(7) accounts.

Commissions and Transaction Fees1

Stocks and Exchange-Traded Funds per Executed Trade

Note: Schwab Exchange-Traded Funds™ are subjectto lower commissions. See next table.

Online 2 $8.95

Automated Phone Online commission plus $5Broker-Assisted Online commission plus $25

Schwab Exchange-Traded Funds™ per Executed Trade 3

Online $0

Automated Phone Online commission plus $5Broker-Assisted Online commission plus $25

Foreign Stock Transactions*

Trades placed on the U.S. over-the-counter market

Online $8.95 plus a $50 oreigntransaction ee 4

Automated Phone Online commission plus $5,plus a $50 oreign transac-tion ee 4

Broker-Assisted The greater o $100 or 0.5%o principal, with no maximum

Trades placed directly on a oreign exchange

Online Not available

Automated Phone Not available

Broker-Assisted The greater o $100 or 0.5%o principal, with no maximum

* Trades o oreign ordinary shares placed directly ona oreign exchange, or on the U.S. over-the-countermarket, but excluding trades o Canadian stocks,American Depositary Receipts, or stocks o oreign-incorporated companies that are listed on U.S. orCanadian exchanges or whose trades clear andsettle in the U.S. or Canada.



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Special Stock Transactions

• Large block transactions (orders of 10,000 or more

shares, or orders over $500,000): May be eligibleor special handling and/or pricing—please call usor in ormation.

• Restricted stock transactions: Broker-assisted commission pricing schedule applies or all trades,including those placed online.

Mutual Fund Transaction Fees perExecuted Trade

Some unds may also charge sales and/or redemp-tion ees. Please read the prospectuses or details.You can buy shares directly rom a und company orits principal underwriter or distributor without payingSchwab’s transaction or service charges (exceptSchwab Funds®).

No-Transaction-Fee Funds (includes unds availablethrough the Mutual Fund OneSource® service)

Online andAutomated Phone

No service charge

Broker-Assisted $25 service charge per trade

Transaction-Fee Funds 5

Online andAutomated Phone

$49.95 per trade

Broker-Assisted $74.95 per trade

Note: For in ormation about o shore unds ( undsregistered outside the U.S. or purchase by non-U.S.persons only), please call us.

Option Commissions per Executed Trade

Online $8.95, plus $0.75 per contract

Automated Phone Online commission plus $5

Broker-Assisted Online commission plus $25

Note: Stock or option trades resulting rom an optionexercise or assignment will be subject to the corre-sponding online commission pricing schedule.



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Fixed Income Investments

Schwab reserves the right to act as principal on any

fxed income transaction, public o ering or securitiestransaction. When Schwab acts as agent, a commis-sion will be charged on the transaction. WhenSchwab acts as principal, the markup is included inthe bond price.

OnlineCommission orMarkup

Broker-AssistedCommissionor Markup

New Issues, includ-ing Certi icates oDeposit

$0 (a selling concession maybe included in the o eringprice)

Treasury Bills,Notes, Bonds andTIPS (Secondaryand Auction)

$0 $25

Secondary transac-tions or Corporate

Bonds, MunicipalBonds, GovernmentAgencies, Zero-Coupon Treasuries(including STRIPS),Mortgage-BackedSecurities andCerti icates oDeposit

$1 per bond($10 minimum/$250 maximum)

Online pricingplus $25 per

trade

Unit InvestmentTrusts

Not applicable Sales chargeapplies.Please seeprospectus.

Pre erreds or REITs Stock commissions andminimums apply or secondarytransactions.

Commercial Paperand Foreign Bonds

These are specialty products—please call us or in ormation.

Note: Large block transactions (orders o more than250 bonds) may be eligible or special handling and/or pricing—please call us or in ormation.

Note: Our commissions and markups may beslightly less than our published schedule shownabove due to rounding.



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Account Activity Fees

Fee Amount

Late settlement $25

Mutual und short-termredemption ee 6:

Online and Automated PhoneBroker-Assisted

$49.95$49.95, plus

$25 servicecharge

Order out o certi icates ( orU.S. and Canadian securities):

Physical certi icates*Book entry held at

trans er agent (DirectRegistration System)

$50 per certi icate$0 per issue

Order out o certi icates ( ororeign securities):Physical certi icates Variable ee

(based on thelocation o thetrans er agent)

Restricted stockre-registration/gi ting

$75 per trans er

Schwab Proprietary Non-SweepMoney Funds, including SchwabValue Advantage Investments®(SVAI):

Schwab-initiated redemptions 7

Failure to maintain requiredminimum balance in certainSchwab Proprietary Non-Sweep Money Funds, including

SVAI (check prospectus orminimum balance requirements)

$10 per redemption$5 per month

Security reorganization:Voluntary*Post-e ective*

$39$39

Trans er (out) o assets:FullPartial

$50 per account$25 per account

Trans er o title or certi icates(re-registering securities held incerti icate orm)

$25 per position

* See Special Service Fee Waivers.



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Cashiering and Administrative Services Fees

Fee Amount

Overnight and/or bulk deliveries $20 or more,subject to deliv-ery speed and/or package size

Non-su icient unds/returned item $25

Wire trans er:Outgoing †

Incoming$25 per trans erNo ee

† See Special Service Fee Waivers.

Custody Fees

Fee AmountAlternative investments ‡ (E ective May 1, 2010)

$250 annual mainte-nance ee per posi-tion; $500 maximumper account

$100 transaction ee

Non-trans erable securities 8 $1 per month perposition

Physical certi icate custodyee

$50 per year perposition

Restricted stock $150 per year per

position ‡ Alternative investments include (list is subject to

change): promissory notes; limited partnerships; pri-vate limited partnerships; limited liability companies;private common, pre erred and convertible pre erredstock; private bonds; private warrants; private place-

ments; and private REITs. State o Israel bonds andchurch bonds, which are considered non-standardassets, are subject to the $100 transaction ee only.

Fee Collection Process or Alternative Investments

E ective May 1, 2010, the custody ee billing process

or alternative investments will change rom anadvance annual billing to an annual billing in arrears.The new custody ees will apply beginning May 1,2010, and will be charged annually as ollows:

• At the end of September 2010, or shortly thereafter,a partial year’s billing (fve-twel ths) o the newcustody ee will be charged or the period o Mayto September 2010.



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• At the end of September 2011, the full custody feewill be charged or the period o October 2010 toSeptember 2011, and annually therea ter.

Special Service FeesExchange Process Fee —This is a ee Schwab chargesto o set ees imposed on us by national securitiesand sel -regulatory organizations or by U.S. option

exchanges.The Securities and Exchange Commission (SEC)assesses transaction ees on national securitiesexchanges and sel -regulatory organizations based onthe aggregate dollar amount o sales o certainsecurities. The SEC recalculates the amount o this

ee periodically—at least once per year but some-times more o ten. National securities exchanges andsel -regulatory organizations o set the transaction

ees by charging their member broker-dealers suchas Schwab, and we, in turn, o set this ee by charg-ing you an Exchange Process Fee or covered sell

transactions.U.S. option exchanges charge Schwab and other broker-dealers per-contract ees or purchases and sales o exchange-listed options. The exchanges may chargethese ees even on transactions executed on otherexchanges, which can result in multiple ees beingimposed on Schwab or a single transaction. Schwabo sets these ees by charging you a single ExchangeProcess Fee or each covered transaction.

A ter October 1, 2010, any Exchange Process Feethat appears on your trade confrmation or a sale o

an exchange-listed option will combine the o sets orthe ees charged both by the U.S. option exchangesand by the national securities and sel -regulatoryorganizations.

Schwab’s Exchange Process Fee will rise or all peri-odically depending upon the rates set by the SEC or

by the U.S. option exchanges, as applicable. Transaction Fee —This ee includes either ees charged

or purchases and sales o certain mutual undshares or ees charged or purchasing U.S. Treasuryobligations via the auction process. The amount o this ee will appear on your trade confrmation.



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American Depositary Receipt (ADR) Fee— Banks thatcustody ADRs are permitted to charge ADR holders a

ee. Fees collected rom Schwab by the DepositoryTrust Company or an ADR will be automaticallydeducted rom your Schwab account(s) and shown onyour account statement(s) as “ADR Pass-Thru Fee.”

Special Service Fee Waivers

• Security order out and security reorganization fees:Fees are waived with $500,000 or more inHousehold Balances, or 36 or more stock or optiontrades per year in Accounts o Your Household.

• Wire transfer fee: With $100,000–$499,999 in Household Balances, you will receive three reeonline domestic wire trans ers per quarter; with$500,000 or more in Household Balances, or 36 ormore stock or option trades per year in Accounts o Your Household, you will receive three ree domes-tic wire trans ers per quarter.

Endnotes1 Excluding mutual unds, commissionable trades thatexecute over more than one day will be charged aseparate commission or each additional day; eachseparate commission will apply to the portion o thetrade executed on the corresponding additional day.Trade orders or which price or quantity are changedby the client and, as a result, execute over multipletrades on the same day are each charged a separatecommission.

2 Up to 999,999 shares can be placed per trade.3 The Schwab Exchange-Traded Funds™ (Schwab ETFs)are distributed by SEI Investments Distribution Co.(SEI). Charles Schwab Investment Management, Inc.(CSIM) serves as the registered investment adviserto Schwab ETFs. CSIM is a wholly owned subsidiaryo The Charles Schwab Corporation and an a iliateo Charles Schwab & Co., Inc., none o which are

a iliated with SEI.4 Transactions in oreign ordinary shares incur addi-tional custody, clearing, and settlement expenses.A oreign transaction ee is added to trades placedon the U.S. over-the-counter market through theonline or automated phone channels. The commissionand oreign transaction ee will be combined and willappear as one line item, labeled “Commission,” onyour trade con irmation.



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5 Standard ees apply on both transactions whenplacing simultaneous orders to sell one or moretransaction- ee und(s) and purchase additionaltransaction- ee und(s) with the proceeds.

6 Schwab’s short-term redemption ee will be chargedon redemption o unds purchased through Schwab’sMutual Fund OneSource® service (and certain other

unds with no transaction ee) and held or 90 daysor less. Schwab reserves the right to exempt some

unds rom this ee, including certain Schwab Funds®,which may charge a separate redemption ee, andunds that accommodate short-term trading.

7 Occurs, at Schwab’s sole discretion, when no othercash assets or margin credit balances are availablein a customer’s account to cover transactions suchas Schwab One® checks, security purchases, Visa®debit cards, AIP investments and electronic undstrans ers.

8 A non-trans erable security is a security or which therehas been no trans er agent or three years or longer.



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Schwab Pricing Guide