Pricing for Online Traders

^†Restrictions apply: The $8.95 flat commission does not apply to foreign stock transactions, large block transactions requiring special handling, employer negotiated commission schedules applicable to equity compensation transactions, or restricted stock transactions. Foreign ordinary shares that trade online in the U.S. over-the-counter (OTC) market and do not settle in the U.S. will have a $50 foreign transaction fee added to the cost of the transaction. All broker-assisted and automated phone trades are subject to service charges. A minimum deposit of $1,000 is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for details. Employee equity compensation transactions are subject to separate commission schedules.

Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options. Covered calls provide downside protection only to the extent of the premium received and limit upside potential to the strike price plus premium received. With long options, investors may lose 100% of funds invested. Multiple-leg options strategies will involve multiple commissions. Please read the Options Disclosure Document titled Characteristics and Risks of Standardized Options before considering any option transaction.

1. Restrictions apply: Online trades of Schwab ETFs are commission-free at Charles Schwab & Co., Inc. (member SIPC), while trades of third-party ETFs are subject to commissions. Broker-assisted and automated Phone trades are subject to service charges. Minimum $1,000 deposit is required to open most Schwab brokerage accounts. Waivers may apply. See the Charles Schwab Pricing Guide for details. All ETFs are subject to management fees and expenses.

Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can request a prospectusby visiting www.schwabetfs.com. or calling Schwab at 800-435-4000. Please read the prospectus carefully before investing.

Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.

*Free trades expire 180 days after account approval, up to 250 trades total.  Applies to base online equity, ETF, and option commissions only. Option per-contract and foreign transaction fees still apply. To qualify, call 888-245-6864 and commit to making a minimum of 36 online equity or options trades per year and deposit $50,000. Other commission-free trade offers may be available if you deposit less than $50,000 -- call 888-245-6864 for terms. Commission-free trades will be assigned following determination of eligibility by Schwab. Account and assets deposited must be new to Schwab. Assets transferred from optionsXpress, Inc. or other Schwab affiliates are excluded. Current Schwab clients and households are not eligible. Offer valid until 12/31/2012. Offer is nontransferable, limited to one per household, and may not be combined with other offers. Accounts ineligible for this offer include, without limitation: 401(k), 403(b), Custodial, 529 Plan and Estate accounts.  Only trades placed through Schwab.com, Schwab trading platform applications and Schwab Wireless are eligible for free trades. No credit will be given for unexecuted trades. Domestic, nonprofessional accounts only. Schwab, Schwab-affiliated, broker-dealer and exchange employees are not eligible. Other exceptions may apply. Schwab reserves the right to restrict this offer at any time.

Android is a trademark of Google Inc. Use of this trademark is subject to Google Permissions.

2. This offer is made available at Charles Schwab & Co., Inc.'s (“Schwab”) discretion and is valid from December 17, 2011, to June 30, 2012, for individuals who make a qualifying net deposit of $75,000 or more into a retail brokerage account. Net deposits must be completed within 45 days of enrollment in the offer (“Enrollment”) or by June 30, 2012, whichever comes first. Net deposits are assets deposited into the account on or after Enrollment and on or before the 45th day after Enrollment or June 30, 2012, whichever comes first, minus assets withdrawn from the account during the same time period, and will be calculated daily. You must maintain the net deposit amount (less market losses, if any) in the account for at least 12 months or Schwab may charge back the value of the Android smartphone. This offer is limited to one per client.

Upon confirmation of your qualifying net deposit, you will receive a redemption code to be redeemed for an Android smartphone through a third-party provider, Lets Talk.com Inc. (“Vendor”), which will expire 90 days from the last day of the month in which it is issued and, depending upon your choice of service provider, may be used to order an un-activated or pre-activated phone. Quantities of certain phones may be limited; Vendor will present available options. Depending on your choice of service provider, Vendor may be able to assist you with selecting a service plan and data plan or adding the phone to your existing plan either at the time of redemption or by contacting Vendor within one year of receipt of the phone. You may also activate the phone yourself by contacting your desired service provider at any time after receipt of the phone. While a service plan is not required to redeem your redemption code, a service plan and data plan are required to operate the phone on a carrier network. Standard service provider terms and conditions apply and service will not be available if you do not meet the service provider's eligibility requirements. This offer includes the phone only; any additional expenses, including service plan or data plan costs, taxes, and accessories, are not included. The phone will include Schwab's Android application already downloaded.

This offer is valid only for retail brokerage accounts and does not apply to brokerage accounts held with or managed by independent investment advisors, IRA accounts, ERISA-covered retirement plans, certain tax-qualified retirement plans and accounts, or education savings accounts. Only outside assets new to Schwab qualify. Transfers between Schwab accounts or from Schwab affiliates, for example, do not qualify. The value of the phone selected, when combined with the value received from any other Schwab offers in the last 12 months, may not exceed $5,000 per household. Please see the Charles Schwab Pricing Guide for Individual Investors on Schwab.com for information about householding. This offer is not transferable, saleable, or valid in conjunction with certain other Schwab offers. This offer is available to legal U.S. residents only. If you work at Schwab or a Schwab affiliate, or are an employee of FINRA or any U.S. stock, option, or commodity exchange, you are not eligible. Schwab may modify or end this offer at any time without notice. Other restrictions may apply.

You should consult with your own tax or legal advisor about the appropriate tax treatment for this offer and any tax implications associated with receipt of the phone. Any taxes related to the offer are your responsibility. The value of all Schwab offers received which, when combined with other income earned on your retail brokerage account, total $600 or more during the calendar year will be included in your consolidated Form 1099.

Mobile deposit is subject to limitations and other conditions. The Schwab Mobile Deposit^™ service is available for Schwab Bank High Yield Investor Checking^®, Schwab Bank High Yield Investor Savings^®, Schwab One^®, Schwab One with High Yield Investor Checking, Schwab One International^®, and Schwab brokerage accounts with a Schwab.com login. Standard hold policies apply. Requires a wireless signal or Wi-Fi connection.

System availability and response times are subject to market conditions and mobile connection limitations. Trades received outside normal market hours will be entered the next business day.