Canadian Banks GIC - Investors Category, Series 23

Current price: N/A
As of

General Information

Series:
S23
Issuer:
NBC
FundSERV Code:
NBC11606
ISM Code:
V88787

Dates

Issue Date:
26-Jul-2017
Maturity date:
25-Jul-2022
Note term:
5.0 years
Valuation Date:
18-Jul-2022

Product Description

The Canadian Banks GIC offers the growth potential of a portfolio composed of the common shares of six Canadian banks (the “Reference Portfolio”) while providing you with 100% guaranteed capital at maturity.

Highlights

  • 5 years-term.
  • Maximum Interest at maturity: 20.00% (3.71% compounded annually).
  • Principal 100% protected at maturity.
  • Eligible for deposit insurance offered by CDIC.
  • Eligible for registered* and non-registered accounts.
  • The Variable Interest is based on the price performance of the Reference Portfolio over the term of the Canadian Banks GIC and is calculated as follows: Variable Interest = Principal invested on the Issue Date x Reference Portfolio Return.
  • The Reference Portfolio Return is the arithmetic average of the Reference Share Return of each of the Reference Shares comprising the Reference Portfolio subject to the Maximum Interest.
  • If the Reference Portfolio does not generate a positive price return over the term of the Canadian Banks GIC, the Canadian Banks GIC will not generate any Variable Interest and, in this case, no return will be paid.
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