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The last issue of the U.S. Market Stock-Indexed GIC was issued on January 12, 2009.
For historical information on this GIC, please refer to Starting Index Values of current issues and Historical Performance of past issues.
The information below pertains to issues offered from November 20, 2007 to January 12, 2009. |
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The US Market Stock-Indexed GIC is a 3-year term, Canadian dollar, investment whose return is based on the performance of the U.S. stock market ( as measured by the S&P 5001 Index).
Your principal earns a potential return based on the percentage increase, if any, in the closing value of the index during the period that starts two business days after your GIC issue date and that ends two business day prior to the maturity date of your GIC, which is then multiplied by the participation rate. The participation rate is set in advance of each new issue and varies by issue date.
In the event of a drop in the Index over the same period, your initial investment would be returned. The U.S. Market Stock-Indexed GIC is RRSP/RRIF eligible.
How It Works
You can purchase Scotia US Market Stock-Indexed GICs anytime with a minimum investment of $1,000. During the period between your purchase date and the next available issue date you earn interest at our regular 3-year non-redeemable GIC rate. On the issue date, this interest is added to the amount you invested and becomes the principal issue amount, which is fully guaranteed.
The term of your Stock-Indexed GIC starts on the issue date. The Stock-Indexed GIC is non-redeemable and non-transferable prior to maturity.
If the closing index value two business days prior to maturity is less than or equal to the closing value two business days after issue, your return is 0%, but your guaranteed principal is returned. Principal and any interest earned are paid at, and not before, maturity.
The S&P 500 Index Explained
The S&P 500 is a widely recognized standard for measuring large-cap US stock market performance. The index is comprised of a representative sample of leading companies in leading industries. Their stock values are tracked daily and reflected in the Index, which provides a barometer of market performance.
Tracking the daily S&P 500 Index value:
- Check the Daily Closing Index Values online.
- By phone - by calling 1-800-387-6507 (outside Toronto) or 416-288-3506 (in Toronto)
- At Scotiabank branches - from your branch representative
- Through publications - in the business section of most major newspapers.
Further Information:
Availability
The Bank of Nova Scotia (BNS) and its wholly owned subsidiaries, Montreal Trust Company of Canada (MTCC)and National Trust Company (NTC), issue Scotia US Market Stock-Indexed GICs.
1"Standard and Poor's", "S&P", and "S&P 500" are trademarks of The McGraw-Hill Companies and have been licensed for use by The Bank of Nova Scotia and its subsidiary companies. Scotia Stock- Indexed GICs are not sponsored, endorsed, sold or promoted by Standard & Poor's. Standard & Poor's makes no representation regarding the advisability of investing in this product.
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