General Privacy Policy*

T. Rowe Price recognizes the importance of protecting your personal and financial information when you visit our website. In the course of doing business with T. Rowe Price, you share personal and financial information with us. We treat this information as confidential and recognize the importance of protecting access to it.

You may provide information when communicating or transacting with us in writing, electronically, or by phone. For instance, information may come from applications, requests for forms or literature, and your transactions and account positions with us. On occasion, such information may come from consumer reporting agencies and those providing services to us.

We do not sell information about current or former customers to any third parties, and we do not disclose it to third parties unless necessary to process a transaction, service an account, or as otherwise permitted by law. We may share information within the T. Rowe Price family of companies in the course of providing or offering products and services to best meet your investing needs. We may also share that information with companies that perform administrative or marketing services for T. Rowe Price, with a research firm we have hired, or with a business partner, such as a bank or insurance company, with whom we are developing or offering investment products. When we enter into such a relationship, our contracts restrict the companies' use of our customer information, prohibiting them from sharing or using it for any purposes other than those for which they were hired.

We maintain physical, electronic, and procedural safeguards to protect your personal information. Within T. Rowe Price, access to such information is limited to those who need it to perform their jobs, such as servicing your accounts, resolving problems, or informing you of new products or services. Our Code of Ethics, which applies to all employees, restricts the use of customer information and requires that it be held in strict confidence.

*The General Privacy Policy applies to the following T. Rowe Price family of companies: T. Rowe Price Associates, Inc.; T. Rowe Price Advisory Services, Inc.; T. Rowe Price Investment Services, Inc.; T. Rowe Price Trust Company; and the T. Rowe Price Funds.

Online Privacy Practices

Below, please find an explanation of our policies and practices concerning information gathered during online sessions. These practices are consistent with and remain subject to our General Privacy Policy. Topics covered include:

Why We Collect Information:

Our website utilizes a variety of technologies (such as cookies and Web beacons) to collect, store, and aggregate data about usage. These technologies help us analyze and tailor the site for all users and better understand:

  • how our site is used
  • which features or pages are most popular
  • browsing and usage patterns.
How T. Rowe Price Works To Secure Your Information:

T. Rowe Price protects your personal information when you transact business on our website by requiring the use of a browser software program that supports 128-bit encryption. The "128-bit" designation refers to the length of the key used to encrypt the data being transmitted, with a longer key representing a higher level of security. For more information on the security of your account data with T. Rowe Price, see the Security Measures section of our website.

What Information T. Rowe Price Collects and How we Use It:

Registered Website Users
If you are a registered user of our website and have online access for your account(s), we have the ability to collect all information that is submitted through use of your user ID during an online session, such as any requested transactions, and link it to you. We also have the ability to recognize your computer each time it is used to visit our site and to link activity to you, even if you do not log in to conduct a transaction or check your balances. This means your general usage patterns and other information noted throughout these Online Privacy Practices may be linked to you. This information can be useful to us when assessing and offering tools and other features to you and can also be used as otherwise described in our General Privacy Policy.


Non-Registered Website Users
If you are not a registered user and do not give us any identifying information about yourself (for example, your name, address, or email address), we would track your general usage patterns (such as pages visited and time spent on our site) as we do for all website users. However, we would not be able to link this information as specifically belonging to you. If you do give us identifying information about yourself (for example, by requesting that literature be sent to you or if you supply an email address), we would collect that information and use it to fulfill your request and as otherwise described in our General Privacy Policy. This information would also be stored and may be linked with your other activity on our site.

Tools
Some of our calculators, analyzers, and other tools ("tools") allow you to save your inputs for your future use. Otherwise, your inputs are not preserved for your usage beyond the end of your online session. Whether some or all of your inputs are collected by us can vary by tool, and if your inputs are collected, they may be used and potentially associated with you personally as noted on this page.

Information Collected from Other Sources
Information may come from third parties providing services to us or with whom we are developing products or services. For example, we may obtain page-view activity information when you visit the website of a third party that hosts or co-hosts material for us or from a third party with whom we are developing or offering investment products or other services. This information from a third party can be useful to us when assessing and offering tools and other features to you and such information may be stored by us and may be linked with your other activities on our site.

How T. Rowe Price Uses Your Email Address:

If you have supplied your e-mail address to T. Rowe Price, we may occasionally send you follow-up communications or information on additional products and services both directly through e-mail and indirectly through online advertising messages through social media channels such as Facebook and Twitter. These communications may deal with our products or services, invite you to participate in research, alert you on a specific issue, or follow-up to a request you've made. T. Rowe Price also offers subscription-based email services on a variety of topics, such as market reports, investment information, daily closing fund prices, and the latest updates from T. Rowe Price.

If you have online account access with us, you can change your e-mail preferences by going to troweprice.com/email, logging in, and then updating your e-mail preferences. We also include instructions and links for unsubscribing from these mailings in T. Rowe Price e-mails. If you do not want us to use your e-mail address to provide online advertising messages through social media channels, please call one of our service representatives at 1-800-225-5132.

T. Rowe Price does not sell e-mail addresses to anyone, although we may disclose e-mail addresses to third parties that perform administrative or marketing services for us as described in the General Privacy Policy. To help gauge the effectiveness of our e-mails or social media messaging, we may track receipt of e-mails or be provided with anonymous statistical information from the social media provider.

What Information T. Rowe Price May Share with Third Parties:

T. Rowe Price does not share personal information about our customers for use in third party marketing products and services, nor do we sell any personal information. The General Privacy Policy describes our policies on when we may share information with third parties. Here are some examples of online sharing we may do with trusted third party partners:

Online Surveys
Occasionally, we conduct voluntary surveys regarding our website or other products or services. The information you provide is used collectively for analytical purposes. You will not receive unsolicited communications as a result of your participation in a survey if you notify us not to contact you.

Online Advertising
We may use third parties to serve (i.e., place) advertisements for us on other websites, including banner advertisements. The third parties may collect anonymous information through the use of cookies and action tags (referred to as Web beacons and GIF tags). See the section below titled "Cookies and Other Web Technologies" for more information, including how to opt out of third-party cookies.

You should also refer to the section above under How T. Rowe Price Uses Your E-mail Address" for information about online advertising through social media channels.

Cookies and Other Web Technologies:

Information About How We Use Cookies and Other Technologies
Our website utilizes a variety of technologies to collect, store, and aggregate data about usage. We may use electronic tags called "cookies" or other technology to help us understand and analyze use of our site as described in our Online Privacy Practices. This work is either performed directly by us or by a third party hired to assist us. We collect information on what pages have been accessed and for how long, the country you are accessing the site from, and certain technical information regarding your computer and operating systems, such as your Internet protocol address, domain name and browser, etc. Cookies can also help in remembering certain user attributes.

Certain sections of our site require cookies to be enabled to enhance website performance. For example, they provide a secure way for us to verify your identity during your online session, they enable us to personalize your experience on our site, and they help enhance site navigation. Cookies also help us to understand how people use our site so that we can improve site functionality.

When you come to our website, our Web server sends a cookie to your computer. Standing alone, cookies do not identify you personally; they merely recognize your browser. For more information and circumstances under which personally identifiable information may be collected and used, please refer back to the Online Privacy Practices.

We use two types of cookies on our website, temporary cookies and persistent cookies. Temporary cookies are used to store information during a browser session and will expire automatically when you close your browser. Persistent cookies are used to store information between visits to our website and are stored permanently or for a specified length of time.

You can choose to have your computer warn you each time a cookie is being sent, or you can choose to turn off all cookies. You do this through your browser (e.g., Safari or Internet Explorer) settings. Each browser is different, so review your browser's Help menu to learn the correct way to modify your cookies. If you disable cookies, you will not have access to many features that make your visit to the T. Rowe Price website fully functional. While you may disable the usage of cookies through your browser settings, we do not change our practices in response to a "Do Not Track" signal in the HTTP header from your browser.

A clear GIF, also known as a Web beacon, is another technology used and functions similar to a cookie. A Web beacon is a tiny invisible graphic that contains a unique identifier; it is very small, about the size of the period at the end of a sentence. Web beacons are primarily used in the following ways: (1) to track online Web movements of our users and inform us what content and/or ads are effective and (2) to track receipt of emails to gauge the effectiveness of our communications.

Information About How Cookies and Other Technologies Are Used With Advertisements
We may use third parties to serve (i.e., place) advertisements for us on other websites, including banner advertisements. The third parties may collect anonymous information through the use of cookies and action tags (referred to as Web beacons and GIF tags). The third parties do not collect identifiable information like name, address, phone number or e-mail address but instead collect, store, and use information relating to the effectiveness of online advertising such as the advertisement clicked on, pages visited, and the time spent on our website.

To assist us in measuring the effectiveness of our online advertising, the third parties may supply the anonymous information directly to us, or they may use it to produce statistics and reports for us. The third parties may also use the information to service advertisements in the future. Cookies placed by third parties are subject to their respective privacy policies.

To opt-out of many third-party cookies click here to go to the Network Advertising Initiative website.

Links to Other Sites:

On our website, we may provide links to third parties that provide financial and other information that may be of interest to you. Once you've clicked a link and have left our website, our General Privacy Policy and Online Privacy Practices typically no longer applies. You should read the privacy policy of the third party to see how your personal information will be handled on their site. To the extent we obtain information from a third party concerning your activities on the third party's website, our General Privacy Policy and Online Privacy Practices will continue to apply to our handling of such information.

Effective Date and Additional Changes:

The effective date of these Online Privacy Practices is June 27, 2014. From time to time, we may change these Online Privacy Practices. When they are revised or materially changed, we will update the effective date. You can determine whether there have been any changes since the last time you reviewed them by simply checking the effective date.