Charles Schwab Pricing Guide for Individual Investors

Non-U.S. ETFs are available for eligible non-U.S. residents as broker-assisted trades, subject to a $50 transaction fee. For non-U.S. ETF orders, please contact the Global Services team from inside the U.S. at 1-800-992-4685 and from outside the U.S. at +1-415-667-8400.

Special Stock Transactions

• Large block transactions (orders of 10,000 or more shares, or orders over $500,000): Can be eligible for special handling and/or pricing—please call us for information.
• Restricted stock transactions: Broker-assisted commission pricing schedule applies for all restricted stock trades. Single orders that include restricted and unrestricted shares of the same security will be charged the broker-assisted rate.

  Note: Standard commission schedules apply to vested equity awards issued by an employer and corporate stock plan.

Stock Borrow Fees for Short Selling

For certain securities, if you have an open order or open short position in your Account, whether it is established through short selling, option exercise or assignment, account transfer, or otherwise, Schwab can charge a Stock Borrow Fee. The fee is calculated as the end of day short market value, multiplied by the quoted interest rate, divided by 360. This Stock Borrow Fee is subject to change on a daily basis and can be charged as long as you hold the open short position. The aggregate monthly Stock Borrow Fee will appear on your account statement. The interest rate charged will vary depending on the supply and demand for the particular security in the securities lending market. Schwab can seek to charge you any rate consistent with Schwab's view of competitive necessities.

Mutual Fund Transaction Fees per Executed Trade

Some funds 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^®).

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 principal, the bond price includes our transaction fee (outlined below) and can also include a markup that reflects the bid-ask spread and is not subject to a minimum or maximum. When trading as principal, Schwab may also be holding the security in its own account prior to selling it to you and, therefore, may make (or lose) money depending on whether the price of the security has risen or fallen while Schwab has held it. When Schwab acts as agent, a commission will be charged on the transaction.

Special Service Fees

Exchange Process Fee—This is a fee Schwab charges to offset fees imposed on us directly or indirectly by national securities exchanges, self-regulatory organizations, or U.S. option exchanges. Schwab shall have the right to determine the amount of such fees in its reasonable discretion, and such fees may differ from or exceed the actual third-party fees properly paid by Schwab in connection with any transaction. These differences may be caused by various internal and external factors, including, among other things, the rounding methodology used, the use of allocation accounts, transactions or settlement movements for which a fee may not be assessed, timing differences in changes, third-party rate caps and floors, calculation errors, and various other anomalous reasons.

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 by the U.S. option exchanges, national securities exchanges, and self-regulatory organizations.

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

Exchange Process Fee for American Depositary Receipts (ADR)—This is a fee Schwab charges to offset fees imposed on us by executing brokers. It is associated with transaction taxes assessed by certain governments as a percentage of the purchase amount on certain securities, and the rate is subject to change. The fee will appear as an "Exchange Process Fee" 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."

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.

Delivery Fee—Schwab assesses a $100 per-contract fee to offset costs associated with client transactions to make or take delivery of a physically deliverable commodity. In addition, other fees not assessed by Schwab can be passed through to you, including, but not limited to, fees charged by our clearing firms and others for commodity handling, inspections, storage and warehousing, delivery financing, etc. Some fees can be one-time delivery-related fees, while others can be recurring fees assessed at periodic intervals. You will see such fees itemized on your Schwab trade confirmations and account statements for your futures account. Delivery-related fees are subject to change without notice.

Special Service Fee Waivers

• Fees to order out physical certificates: Fees can be waived for households that meet certain asset levels.
• Wire transfer fee: With $100,000 or more in Household Balances, you will receive three free online domestic wire transfers per quarter.
• Overnight delivery fee for Schwab-issued check requests: With $1,000,000 or more in Household Balances, overnight delivery fees for Schwab-issued checks will be waived.

Endnotes

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.

³Transactions 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.

⁴Schwab'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 can charge a separate redemption fee, and funds that accommodate short-term trading.

Commissions and Transaction Fees for Schwab Global Accounts

Introduction

With your Schwab Global Account™, you can place trade orders for foreign securities on foreign exchanges in foreign currencies.

To establish a Schwab Global Account™, you must have a Schwab One^® Account. 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 the rest 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

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 Charles Schwab Investment Management, Inc. ("CSIM"), Charles Schwab Investment Advisory, Inc. ("CSIA"), and Schwab Wealth Advisory, Inc., are affiliated with Schwab.

Not all products and services are available in all countries and may be subject to country-specific restrictions.

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