Schwab Teams with Piper Jaffray to Expand Investor Access to New Issue Muni Bonds

  Schwab Teams with Piper Jaffray to Expand Investor Access to New Issue Muni

Business Wire

SAN FRANCISCO -- November 26, 2012

Charles Schwab announced today that it has joined with Piper Jaffray, a
leading investment bank and asset management firm, to provide clients access
to Piper Jaffray’s new issue municipal bonds through Schwab’s BondSource®
platform. Piper Jaffray is a top-ranked municipal bond underwriter in the U.S.
with specialized expertise in a wide array of state and local markets.

“Our clients have asked for the ability to participate in geographically
diverse new issue municipal bond offerings, and we’re thrilled that they’ll be
able to access a wide variety of specialized, local deals now available
through Piper Jaffray,” said Peter Crawford, Senior Vice President for Charles
Schwab. “This agreement complements our existing new issue bond offering,
helping give our clients the flexibility to add regional or local exposure to
their bond portfolios.”

Schwab clients can view or place orders for new municipal bond issues on the
BondSource platform and can visit the New Issue Calendar to view upcoming
offerings and set customized alerts. In the twelve months ended on August 31,
2012, Schwab clients had access to over 930 new issue offerings, including
access to nearly 600 new issue muni deals. The bonds available through Piper
Jaffray complement the new issue municipal bonds already available to clients
on Schwab’s BondSource platform through prior existing agreements.

The Schwab BondSource platform provides investors with broad access to new
issue bonds and secondary offerings – via trading platforms, bond underwriters
and dealers as well as Schwab’s own inventory. Product offerings include
munis, corporates, CDs, Treasuries, agency bonds, and sub-investment grade

“We are excited to join with Charles Schwab to expand our distribution reach,
providing their clients with significant new issue municipal opportunities and
a broad range of secondary fixed income offerings,” said Brad Winges, Head of
Fixed Income Services at Piper Jaffray.

Piper Jaffray has a leading public finance franchise and consistently ranks in
the top tier of national underwriters. In 2011, Piper Jaffray ranked No. 2
nationally in number of Senior Managed Long-Term Negotiated Issues and ranked
No. 7 in par value of Senior Managed Long-Term Competitive Issues. In 2011,
Piper Jaffray acted as underwriter or financial advisor on 900 municipal bond
transactions with an aggregate par value of $52 billion. Piper Jaffray
continues its momentum in 2012 and year to date through September, it ranked
No. 2 nationally in number of Senior Managed Long-Term Negotiated Issues and
ranked No. 7 in par value of Senior Managed Long-Term Competitive Issues. ^ 1

About Piper Jaffray

Piper Jaffray is a leading investment bank and asset management firm serving
clients in the U.S. and internationally. Proven advisory teams combine deep
product and sector expertise. Founded in 1895, the firm is headquartered in
Minneapolis and has offices across the United States and in London and Zurich.

About Charles Schwab

The Charles Schwab Corporation (NYSE:SCHW) is a leading provider of financial
services, with more than 300 offices and 8.7 million active brokerage
accounts, 1.6 million corporate retirement plan participants, 851,000 banking
accounts, and $1.9 trillion in client assets. The company was ranked ’Highest
in Investor Satisfaction With Self-Directed Services’ in the 2012 US
Self-Directed Investor Satisfaction Study^SM from J.D Power and Associates.
Through its operating subsidiaries, the company provides a full range of
securities brokerage, banking, money management and financial advisory
services to individual investors and independent investment advisors. Its
broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC,, and affiliates offer a complete range of investment services
and products including an extensive selection of mutual funds; financial
planning and investment advice; retirement plan and equity compensation plan
services; compliance and trade monitoring solutions; referrals to independent
fee-based investment advisors; and custodial, operational and trading support
for independent, fee-based investment advisors through its Advisor Services
division. Its banking subsidiary, Charles Schwab Bank (member FDIC and an
Equal Housing Lender), provides trust and custody services, banking and
lending services and products. Investment products offered by Charles Schwab &
Co., Inc. are not insured by the FDIC, are not deposits or obligations of
Charles Schwab Bank, and are subject to investment risk, including the
possible loss of principal invested. More information is available at and


^1 Rankings as of 11/2012, per Thomson Reuters SDC Platinum™


Charles Schwab
Erin Montgomery, 212-403-9271
The Neibart Group
Natalia Krepak, 718-875-7269
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