December 2011
Charles Schwab
Pricing Guide for
Individual Investors
Pricing information in this Guide supersedes
prior versions.
Contents
Introduction. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Definitions. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Minimum Deposit Requirements. . . . . . . . . . . . . . . . 3
Commissions and Transaction Fees. . . . . . . . . . . . . 4
Account Activity Fees. . . . . . . . . . . . . . . . . . . . . . . . 7
Special Service Fees. . . . . . . . . . . . . . . . . . . . . . . . 9
Endnotes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
How to Reach Us:
By Phone:
Schwab by Phone™: To reach an Investment
Professional or to use our automated phone services,
call 1-800-435-4000.
TeleBroker®: For access to our automated touch-tone
services, call 1-800-2SCHWAB (1-800-272-4922).
For services in
: 1-800-662-6068
For services in español: 1-800-786-5174
International clients: For services in English,
español, call 1-415-667-8400.
or
By Web and Wireless:
www.schwab.com
chinese.schwab.com
www.schwab-global.com
www.schwab.co.uk
Web-enabled phone: Look for Schwab on your
phone’s web menu.
PDA: Consult www.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 Calcula
tions. 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
1
Calculations. If an account is added to Accounts of
Your Household, any impact on Household Calcula
tions 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 Calcula
tions. 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.
2
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 schwab-global.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
Minimum Deposit
Requirement
Account Type
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), Education
Savings Account and
Schwab One®Organization
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®Estate
Account, Inherited IRA,
Schwab Account and
College Saver Account
Schwab One® Custodial
Account and Custodial IRA
Schwab One
International® Account
Schwab One International®
Account for clients associated with
Charles Schwab,
U.K., Limited
$1,000 per account
3
$100 per account
$25,000 per account
$10,000 per account
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: Schwab Exchange-Traded Funds™ are subject
to lower commissions. See next table.
Online2
$8.95
Automated Phone
Online commission plus $5
Broker-Assisted
Online commission plus $25
Schwab Exchange-Traded Funds™ per Executed Trade3
Online
$0
Automated Phone
Online commission plus $5
Broker-Assisted
Online commission plus $25
Foreign Stock Transactions*
Trades placed on the U.S. over-the-counter market
Online
$8.95 plus a $50 foreign
transaction fee4
Automated Phone
Online commission plus $5,
plus a $50 foreign transaction fee4
Broker-Assisted
The greater of $100 or 0.5%
of principal, with no maximum
Trades placed directly on a foreign exchange
Online
Not available
Automated Phone
Not available
Broker-Assisted
The greater of $100 or 0.5%
of principal, with no maximum
* Trades of foreign ordinary shares placed directly on
a foreign exchange, or on the U.S. over-the-counter
market, but excluding trades of Canadian stocks,
American Depositary Receipts, or stocks of foreignincorporated companies that are listed on U.S. or
Canadian exchanges or whose trades clear and
settle in the U.S. or Canada.
4
Special Stock Transactions
• Large block transactions (orders of 10,000 or more
shares, or orders over $500,000): May 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, including those placed
online. Single trade orders that include restricted
and unrestricted shares of the same stock will be
treated as separate orders and subject to multiple
commissions at their respective applicable rates.
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.
5
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 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.
Online
Commission or
Markup
BrokerAssisted
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, ZeroCoupon Treasuries
(including STRIPS),
Mortgage-Backed
Securities and
Certificates of
Deposit
$1 per bond
($10 minimum/
$250 maximum)
Online pricing
plus $25 per
trade
Unit Investment
Trusts
Not applicable
Sales charge
applies.
Please see
prospectus.
Preferreds or REITs
Stock commissions and
minimums apply for secondary
transactions.
Commercial Paper
and Foreign Bonds
These are specialty products—
please call us for information.
6
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 fee6:
Online and Automated Phone
Broker-Assisted
Order out of certificates (for
U.S. and Canadian securities):
Physical certificates*
Book entry held at
transfer agent (Direct
Registration System)
Order out of certificates (for
foreign securities):
Physical certificates
Restricted stock
re-registration/gifting
$49.95
$49.95, plus
$25 service
charge
$50 per certificate
$0 per issue
Variable fee
(based on the
location of the
transfer agent)
$75 per transfer
Schwab Proprietary Non-Sweep
Money Funds, including Schwab
Value Advantage Investments®
(SVAI):
Schwab-initiated redemptions7 $10 per redemption
Failure to maintain required
$5 per month
minimum balance in certain
Schwab Proprietary NonSweep Money Funds, including
SVAI (check prospectus for
minimum balance requirements)
Security reorganization:
Voluntary*
Post-effective*
$39
$39
* See Special Service Fee Waivers.
7
Fee
Amount
Transfer (out) of assets:
Full
Partial
$50 per account
$25 per account
Transfer of title for certificates
(re-registering securities held in
certificate form)
$25 per position
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†
Incoming
$25 per transfer
No fee
† See Special Service Fee Waivers.
Custody Fees
Fee
Amount
$250 annual maintenance fee per position; $500 maximum
per account
Alternative investments
‡
$100 transaction fee
Non-transferable securities8
$1 per month per
position
Physical certificate custody
fee
$50 per year per
position
Restricted stock
$150 per year per
position
‡ Custody fees for alternative investments are billed
annually in arrears. Alte
rnative investments include
(list is subject to change): promissory notes; limited
partnerships; private limited partnerships; limited liability companies; private common, preferred and convertible preferred stock; private bonds; private
warrants; private placements; and private REITs.
State of Israel bonds and church bonds, which are
considered non-standard assets, are subject to the
$100 transaction fee only.
8
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 brokerdealers 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.”
9
Special Service Fee Waivers
• Security order out and security reorganization fees:
Fees are waived with $500,000 or more in
Household Balances, or 36 or more stock or option
trades per year in Accounts of Your Household.
• Wire transfer fee: With $100,000–$499,999
in Household Balances, you will receive three free
online domestic wire transfers per quarter; with
$500,000 or more in Household Balances, or 36 or
more stock or option trades per year in Accounts of
Your Household, you will receive three free domestic wire transfers per quarter.
Endnotes
Excluding 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.
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 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.
4
Transactions in 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 market through the
online or automated phone channels. The commission
and foreign transaction fee will be combined and will
appear as one line item, labeled “Commission,” on
your trade confirmation.
5
Standard 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.
6
Schwab’s short-term redemption fee will be charged
on redemption of funds purchased through Schwab’s
Mutual Fund OneSource® service (and certain other
1
10
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.
7
Occurs, 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.
8
A non-transferable security is a security for which there
has been no transfer agent for three years or longer.
11
This page is intentionally blank.
This page is intentionally blank.
©2011 Charles Schwab & Co., Inc.
All rights reserved. Member SIPC.
CS15433-01 (0811-5100) REG23060-18 (12/11)