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February 2017

Charles Schwab Pricing Guide for Individual Investors

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Pricing information in this guide supersedes prior versions.

How to Reach Us:

By Phone:

Schwab by Phone™: To reach an Investment Professional or to use our automated phone services, call 800-435-4000.

TeleBroker®: For access to our automated touch-tone services, call 800-2SCHWAB (800-272-4922).

For services in 中文: 800-662-6068

For services in español: 800-786-5174

International clients: For services in English, 中文 or español, call 415-667-8400.

By Web and Wireless:

schwab.com

chinese.schwab.com

international.schwab.com

schwab.co.uk

Web-enabled phone: Look for Schwab on your phone's web menu.

PDA: Consult schwab.com/wireless on your desktop.

Schwab reserves the right to change or waive fees at our discretion, subject to notification in accordance with applicable laws and regulations.

Introduction

Schwab provides a broad range of value-added services, some of which have associated fees. This document provides you with an overview of standard pricing for commission rates, transaction fees, and key account charges and service fees.

Information detailed in this guide also applies to international clients (clients residing, or who later move, outside the U.S., its territories and possessions). Commissions and fees described in this guide are stated in U.S. dollars. Not all products and services are available in all countries, and may be subject to country-specific restrictions. A separate pricing guide applies to clients associated with Charles Schwab, Hong Kong, Ltd.

Certain clients may have a different pricing structure based on assets or activities in their accounts at Schwab.

Definitions

Accounts of Your Household—Accounts that have been linked in accordance with Schwab's householding guidelines. Schwab makes a reasonable effort to automatically link qualified accounts of persons with the same last name at the same home address, including accounts held at certain Schwab affiliates.

Schwab aggregates the balances and activities of Accounts of Your Household to determine for your brokerage accounts: the interest rate that certain cash balances receive, whether those accounts may qualify for certain fee waivers, and whether those accounts may qualify for certain benefits or features ("Household Calculations").

Schwab may consider other accounts to be in your household upon your request if account holders are in the same family, there is a dependent relationship, or in certain other similar instances at Schwab's discretion. You are responsible for identifying accounts that should be linked for purposes of determining Accounts of Your Household and Household Calculations. For example, if you or other members of your family who reside at your home address have a different last name (including a spouse, if applicable), you need to contact Schwab to request that we combine your accounts for purposes of Household Calculations. If an account is added to Accounts of Your Household, any impact on Household Calculations may not take effect until the following quarter.

Householding rules applicable to fiduciary accounts are as follows: IRA, Custodial and certain Trust accounts that meet Schwab's householding guidelines generally will be automatically included in Accounts of Your Household and Household Calculations. If you have an IRA, Custodial or Trust account and you are acting in a fiduciary capacity, it is your responsibility and not Schwab's to consider whether it is appropriate to consider the balances and activities of that account in Household Calculations, which could benefit the fiduciary account and/or other Accounts of Your Household. You must contact Schwab to request that the balances and activities of your fiduciary account not be included in Accounts of Your Household and Household Calculations if you determine that it is not appropriate.

Qualified Retirement Plan (QRP), Keogh, Company Retirement Account (CRA), Pension Trust, Individual 401(k) and 403(b)(7) accounts (collectively, "Retirement Plan Accounts") are not automatically included in Household Calculations. However, for certain services, the account holder of the Retirement Plan Account may elect to include the Retirement Plan Account in Accounts of Your Household and Household Calculations by providing Schwab with written instructions to do so. Please contact Schwab for the required form.

Automated Phone Trades—Trades placed through Schwab by Phone™ and TeleBroker®.

Direct Access—A feature that allows trades to be placed directly through an electronic communications network, market maker or exchange.

Household Balance—The total combined value, over a given period of time, of the assets in Accounts of Your Household, including margin balances and other outstanding debit balances like mortgage, Home Equity Line of Credit (HELOC) and credit card balances. In order to determine qualification for any fee waiver and/or interest rate, Schwab will add up your daily Household Balances for the applicable time period, then divide this total by the number of days in the period.

Minimum Deposit Requirement—The minimum amount that must be deposited and maintained in an account to avoid account closure. For Schwab One International® Accounts and Schwab One International® Accounts for clients 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 international.schwab.com, schwab.co.uk, schwab.com.hk, and the Chinese-language version of Schwab.com), StreetSmart.com®, StreetSmart Pro®, StreetSmart Edge®, Schwab Wireless, or Schwab software.

Minimum Deposit Requirements

Account Type

Minimum Deposit Requirement

Schwab One® Account and Schwab One® Trust

$1,000 per account

The Minimum Deposit Requirement is waived if you open a linked Schwab Bank High Yield Investor Checking® account or establish an incoming monthly transfer of at least $100 through direct deposit or Schwab MoneyLink.®

Schwab IRA (includes Traditional, Rollover, Roth and Roth Conversion accounts) and Education Savings Account

$1,000 per account

The Minimum Deposit Requirement is waived if you establish an incoming monthly transfer of at least $100 through direct deposit or Schwab MoneyLink.®

Schwab One® Organization Account

Schwab One® Organization accounts require a minimum deposit to open. Please contact Schwab for details.

Schwab One® Estate Account, Inherited IRA, Schwab Account and College Saver Account

$1,000 per account

Schwab One® Custodial Account and Custodial IRA

$100 per account

Schwab One International® Account and Schwab One International® Account for clients associated with Charles Schwab, U.K., Limited

Schwab One International® accounts require a minimum deposit to open. Please contact Schwab for details.

Accounts Not Subject to Minimum Deposit Requirement

The Minimum Deposit Requirement does not apply to the following account types: SEP-IRA, SARSEP-IRA, SIMPLE IRA, Qualified 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:Exchange-Traded Funds (ETFs), including Schwab ETFs™,participating in Schwab ETF OneSource™ are subject to lower commissions. See next table.

Online2

$6.95

Automated Phone

Online commission plus $5

Broker-Assisted

Online commission plus $25

ETFs, including Schwab ETFs™, participating in Schwab ETF OneSource™ per Executed Trade3

Online

$0

Automated Phone

Online commission plus $5

Broker-Assisted

Online commission plus $25

*These fees also apply to trades of Canadian stocks, American Depositary Receipts, and stocks of foreign-incorporated companies that are listed on U.S. or Canadian exchanges or whose trades clear and settle in the U.S. or Canada.

Note: Short sells and buys to cover for third-party ETFs participating in Schwab ETF OneSource™ are subject to online commissions plus any additional fees.

Foreign Stock Transactions

Trades placed on the U.S. over-the-counter (OTC) market

Online

$6.95 plus a $50 foreign transaction fee4

Automated Phone

Online commission plus $5, plus a $50 foreign transaction fee4

Broker-Assisted

$81.95: Online commission of $6.95 plus $25 for broker assistance, plus a $50 foreign transaction fee4

Trades placed directly on a foreign exchange

Online

Not available

Automated Phone

Not available

Broker-Assisted

The greater of $100 or 0.75% of principal, with no maximum

These fees apply to trades of foreign ordinary shares placed directly on a foreign exchange or on the U.S. over-the-counter (OTC) market.

Special Stock Transactions

Mutual Fund Transaction Fees per Executed Trade

Some funds may also charge sales and/or redemption fees. Please read the prospectuses for details. You can buy shares directly from a fund company or its principal underwriter or distributor without paying Schwab's transaction or service charges (except Schwab Funds®).

No-Transaction-Fee Funds (includes funds available through the Mutual Fund OneSource® service)

Online and Automated Phone

No service charge

Broker-Assisted

$25 service charge per trade

Transaction-Fee Funds5

Online and Automated Phone

$76 per buy, $0 per sell

Broker-Assisted

Online or automated phone fee plus $25 service charge per trade

Note: For information about offshore funds (funds registered outside the U.S. for purchase by non-U.S. persons only), please call us.

Option Commissions per Executed Trade

Online

$6.95, plus $0.70 per contract

Automated Phone

Online commission plus $5

Broker-Assisted

Online commission plus $25

Note: Stock or option trades resulting from an option exercise or assignment will be subject to the corresponding online commission pricing schedule.

Fixed Income Investments

Schwab reserves the right to act as principal on any fixed income transaction, public offering or securities transaction. When Schwab acts as agent, a commission will be charged on the transaction. When Schwab acts as principal, the markup is included in the bond price.

Product Type

Online Commission or Markup

Broker-Assisted Commission or Markup

New Issues, including Certificates of Deposit

$0 (a selling concession may be included in the offering price)

Treasury Bills, Notes, Bonds and TIPS (Secondary and Auction)

$0

$25

Secondary transactions for Corporate Bonds, Municipal Bonds, Government Agencies, Zero-Coupon Treasuries (including STRIPS), and Certificates of Deposit

$1 per bond

($10 minimum/ $250 maximum)

Online pricing plus $25 per trade

Preferreds or REITs

Stock commissions and minimums apply for secondary transactions.

Commercial Paper, Foreign Bonds, Asset-Backed Securities, Mortgage-Backed Securities, Collateralized Mortgage Obligations, and Unit Investment Trusts

These are specialty products—please call us for information.

Note: Large block transactions (orders of more than 250 bonds) may be eligible for special handling and/or pricing—please call us for information.

Note: Our commissions and markups may be slightly less than our published schedule shown above due to rounding.

Account Activity Fees

Fee

Amount

Late settlement

$25

Mutual fund short-term redemption fee:6

Online and Automated Phone


$49.95

Broker-Assisted

$49.95, plus $25 service charge

Order out of certificates (for all U.S. and some Canadian securities):

Book entry of securities held electronically at transfer agent (Direct Registration System)


$0 per issue

Physical certificates*

This fee will be equal to the amount charged to Schwab by the Depository Trust & Clearing Corporation, currently $500 per certificate, subject to increases in the future. Additional charges may apply for rush requests.

Order out of certificates (for foreign securities):

Physical certificates

Variable fee (based on the location of the transfer agent)

Restricted stock re-registration/gifting

$75 per transfer

Schwab Non-Sweep Money Funds, including Schwab Value Advantage Investments® (SVAI):

Schwab-initiated redemptions7

$10 per redemption

Security reorganization:

Voluntary*

$39

Post-effective*

$39

Transfer (out) of assets:

Full

$50 per account

Partial

$25 per account

Transfer of title for certificates (re-registering securities held in certificate form)

$25 per position

*See Special Service Fee Waivers.

Cashiering and Administrative Services Fees

Fee

Amount

Overnight and/or bulk deliveries

$20 or more, subject to delivery speed and/or package size

Non-sufficient funds/returned item

$25

Wire transfer:

Outgoing

$25 per transfer

Incoming

No fee

See Special Service Fee Waivers.

Custody Fees for Non-Publicly Traded Securities

Description

Amount

Annual maintenance fee for restricted securities

$150 per position

Annual maintenance fee for other non-publicly traded securities

$250 per position

Maximum of $500 per account

If applicable, fees for ineligible securities and valuation are additional.

Transaction fee

$100 per transaction

Ineligible security fee

$250 per year per position

Valuation fee

Effective September 1, 2013: $500 per year per position valued

Non-transferable fee8

$1 per month per position

Note: Certain Non-Publicly Traded Securities may be exempt from certain fees. Custody fees for Non-Publicly Traded Securities are billed annually in arrears.

Special Service Fees

Exchange Process Fee—This is a fee Schwab charges to offset fees imposed on us by national securities and self-regulatory organizations or by U.S. option exchanges.

The Securities and Exchange Commission (SEC) assesses transaction fees on national securities exchanges and self-regulatory organizations based on the aggregate dollar amount of sales of certain securities. The SEC recalculates the amount of this fee periodically—at least once per year but sometimes more often. National securities exchanges and self-regulatory organizations offset the transaction fees by charging their member broker-dealers such as Schwab, and we, in turn, offset this fee by charging you an Exchange Process Fee for covered sell transactions.

U.S. option exchanges charge Schwab and other broker-dealers per-contract fees for purchases and sales of exchange-listed options. The exchanges may charge these fees even on transactions executed on other exchanges, which can result in multiple fees being imposed on Schwab for a single transaction. Schwab offsets these fees by charging you a single Exchange Process Fee for each covered transaction.

Any Exchange Process Fee that appears on your trade confirmation for a sale of an exchange-listed option combines the offsets for the fees charged both by the U.S. option exchanges and by the national securities and self-regulatory organizations.

Schwab's Exchange Process Fee will rise or fall periodically depending upon the rates set by the SEC or by the U.S. option exchanges, as applicable.

Transaction Fee—This fee includes either fees charged for purchases and sales of certain mutual fund shares or fees charged for purchasing U.S. Treasury obligations via the auction process. The amount of this fee will appear on your trade confirmation.

American Depositary Receipt (ADR) Fee—Banks that custody ADRs are permitted to charge ADR holders a fee. Fees collected from Schwab by the Depository Trust Company for an ADR will be automatically deducted from your Schwab account(s) and shown on your account statement(s) as "ADR Pass-Thru Fee."

Special Service Fee Waivers

1Excluding mutual funds, commissionable trades that execute over more than one day will be charged a separate commission for each additional day; each separate commission will apply to the portion of the trade executed on the corresponding additional day. Trade orders for which price or quantity are changed by the client and, as a result, execute over multiple trades on the same day are each charged a separate commission.

2Up to 999,999 shares can be placed per trade.

3The 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 adviser to Schwab ETFs™. CSIM is a wholly owned subsidiary of The Charles Schwab Corporation and an affiliate of Charles Schwab & Co., Inc., none of which are affiliated with SEI.

4Transactions for foreign ordinary shares incur additional custody, clearing, and settlement expenses. A foreign transaction fee is added to trades placed on the U.S. over-the-counter (OTC) market through all channels. The commission and foreign transaction fee will be combined and will appear as one line item, labeled "Commission," on your trade confirmation.

5Standard fees apply on both transactions when placing simultaneous orders to sell one or more transaction-fee fund(s) and purchase additional transaction-fee fund(s) with the proceeds.

6Schwab's short-term redemption fee will be charged on redemption of funds purchased through Schwab's Mutual Fund OneSource® service (and certain other funds with no transaction fee) and held for 90 days or less. Schwab reserves the right to exempt some funds from this fee, including certain Schwab Funds®, which may charge a separate redemption fee, and funds that accommodate short-term trading.

7Occurs, at Schwab's sole discretion, when no other cash assets or margin credit balances are available in a customer's account to cover transactions such as Schwab One® checks, security purchases, Visa® debit cards, AIP investments and electronic funds transfers.

8A non-transferable security is a security for which there has been no transfer agent for three years or longer.

Commissions and Transaction Fees for Schwab Global Accounts

Introduction

With your Schwab Global Account™, you have the choice of placing trade orders for foreign securities:

To establish a Schwab Global Account™, you must have a Schwab One® account, which is subject to minimum deposit requirements (see page 3 of this guide). Please see the information below about commissions and transaction fees for your Schwab Global Account™. To view other pricing information that may apply to your Schwab Global Account™, please refer to pages 1–11 of this guide.

Commissions and Transaction Fees

For Schwab Global Accounts, trades placed on foreign stock exchanges are subject to commissions and local broker fees, as follows:

Trades Placed on Foreign Stock Exchanges1

Commissions and Fees per Executed Trade in Local Currency

Country

Commission

Local Broker Fee2

Online Trades

Broker-Assisted Trades

Australia

32 AUD

70 AUD

0.1% of principal

Belgium

19 EUR

50 EUR

0.1% of principal

Canada

14 CAD

70 CAD

Varies3

Finland

19 EUR

50 EUR

0.1% of principal

France4

19 EUR

50 EUR

0.1% of principal

Germany

19 EUR

50 EUR

0.1% of principal

Hong Kong5

250 HKD

600 HKD

0.1% of principal

Italy6

19 EUR

50 EUR

0.1% of principal

Japan

2000 JPY

6000 JPY

0.1% of principal

Netherlands

19 EUR

50 EUR

0.1% of principal

Norway

160 NOK

400 NOK

0.1% of principal

United Kingdom7

9 GBP

30 GBP

0.1% of principal

1This list of countries and fees is subject to change without notice.

2Schwab is charged a local broker fee for all trades placed directly on foreign markets. The fee is passed directly on to clients and reported separately as "Other fee/tax" on the trade confirmation.

3Local broker fees in Canada are up to $0.005 CAD per share for stocks trading at less than $1 CAD per share, and $0.01 CAD per share for stocks trading at or above $1 CAD per share.

4The additional fee charged is a financial transaction tax of 0.2% of principal imposed by the government of France. It applies on all buys for securities with a market capitalization in excess of €1 billion. This is reflected in "Other fee/tax" on the trade confirmation.

5Additional fees charged in Hong Kong include:

  • Transaction levy of 0.003% of principal on buys and sells, rounded to the nearest HK cent.
  • Trading fee of 0.005% of principal on buys and sells, rounded to the nearest HK cent.
  • Stamp duty of 0.1% of principal on buys and sells, rounded up to the nearest HK dollar.

6The additional fee charged is a financial transaction tax of 0.2% of principal imposed by the government of Italy. It applies on all buys for securities with a market capitalization in excess of €500 million. This is reflected in "Other fee/tax" on the trade confirmation.

7Additional fees charged in the United Kingdom include: PTM Levy £1 GBP on buys and sells where the principal amount is greater than £10,000 GBP and a stamp duty of 0.5% of principal on buys only.

Foreign Currency Transactions1

Foreign currency transactions are subject to a fee based on the amount of currency converted in a single transaction, as follows:

1To the extent that you hold a foreign currency in your Schwab Global Account that is paying a negative interest rate, Schwab may be charged interest to hold that currency. If that occurs, Schwab reserves the right to charge your Account, with no additional markup, the amount of interest charged to Schwab.

Foreign Exchange Fees

Amount Converted

Fee per Currency Conversion Transaction

Under $100,000

1% of principal

$100,000–$249,999

0.75% of principal

$250,000–$499,999

0.5% of principal

$500,000–$999,999

0.3% of principal

$1,000,000 and above

0–0.2% of principal

Other Trades

Commissions and Fees per Executed Trade in U.S. Dollars

Foreign Stock Transactions Placed on the U.S. Over-the-Counter Market

Online

$56.95 ($6.95 plus a $50 foreign transaction fee1)

Broker-Assisted

$81.95 ($6.95 plus a $25 fee for broker assistance plus a $50 foreign transaction fee1)

American Depositary Receipts (ADRs)

Online

$6.95

Broker-Assisted

$31.95 ($6.95 plus a $25 fee for broker assistance)

1Transactions for foreign ordinary shares that take place on the U.S. over-the-counter (OTC) market incur additional custody, clearing and settlement expenses. A foreign transaction fee is added to trades placed for these shares through all channels. The commission and foreign transaction fee will be combined and will appear as one line item ($56.95 or $81.95), labeled "Commission," on your trade confirmation.

Please note that this does not apply to Schwab accounts managed by an independent investment advisor.

Independent investment advisors are not owned by, affiliated with, or supervised by Charles Schwab & Co., Inc. ("Schwab"). Certain investment advisors such as Windhaven Investment Management, Inc. ("Windhaven"), ThomasPartners, Inc. ("ThomasPartners"), and Schwab Wealth Investment Advisory, Inc. (SWIA) are affiliated with Schwab.

©2017 Charles Schwab & Co., Inc. All rights reserved. Member SIPC. CC0859560 (0217-SJKL) REG23060-30 (02/17)

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