BANK CREATES NEW STOCK-INDEXED GIC
By Adnews Staff
Scotiabank introduced a two-year, stock-indexed guaranteed investment certificate this week. It can be held outside of or within an RRSP. The stock-indexed GIC was first launched last RRSP season, but could not be held outside of an RRSP until now. The GIC combines the potential for stock market gains with the security of a GIC. The rate of return is based on the performance of the Toronto 35 Index to a maximum of 30 per cent over the two years. If the index loses value over the term, investors are guaranteed the return of their principal. National print advertising supports the launch of the GIC. Cossette Communication-Marketing of Toronto created the ads.
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