Laurentian Bank Launches the Three-Year Canadian Growth ActionGIC Offering a Potential Return of 12%
MONTREAL, Oct. 8, 2013 /CNW Telbec/ - Laurentian Bank is offering a new investment product — the Canadian Growth ActionGIC 1 — which is aimed at savers who wish to obtain a higher potential return on their investment vehicles, while preserving their capital.
The Canadian Growth ActionGIC offers a maximum return of 12% for a term of three years. It is eligible for both registered accounts (RRSP, TFSA, RRIF and LIF) and non-registered accounts with a minimum investment of $500.
"With an investment as low as $500, savers can take advantage of a solid potential return from the stock market and see their capital protected as well," underlines Bianca Dupuis, Assistant Vice-President of Investment and Transactional Product Management at Laurentian Bank. "This investment is particularly interesting for clients whose profile does not include the holding of mutual funds or securities. The product becomes even more attractive when combined with our bonus promotion of up to 2% on all guaranteed investment certificates transferred to Laurentian Bank."
Composition of the Canadian Growth ActionGIC Portfolio
The Canadian Growth ActionGIC is a guaranteed capital investment whose return is based on that of Mackenzie Canadian All Cap Dividend Class Series LB. This fund invests in a broad range of higher-yielding assets, including Canadian dividend-paying securities and preferred shares. For the individual investor, this vehicle provides the opportunity to benefit from the performance of handpicked Canadian companies, while offering the peace of mind of knowing their capital is guaranteed. The wide variety of securities held makes for a diversified portfolio, an optimized potential return, and reduced risk.
About Laurentian Bank
Laurentian Bank of Canada is a pan-Canadian banking institution that has $34 billion in balance sheet assets and $37 billion in assets under administration. Founded in 1846, Laurentian Bank was selected in 2012 as one of the 10 winners of the Canada's Passion Capitalists program in recognition of its sustained success in creating "Passion Capital" among its people. The Bank employs more than 4,200 people.
Recognized for its excellent service, proximity and simplicity, Laurentian Bank serves more than one million clients in market segments in which it holds an enviable position. In addition to occupying a choice position among consumers in Québec, where it operates the third largest branch network, the Bank has built a solid reputation across Canada in the area of real estate and commercial financing thanks to its teams working out of more than 35 offices in Ontario, Québec, Alberta and British Columbia. Its subsidiary, B2B Bank, is a Canadian leader in providing banking products as well as investment accounts and services to financial advisors and brokers, while Laurentian Bank Securities is an integrated broker, widely recognized for its expertise and effectiveness nationwide.
i The rate for the 3-year Canadian Growth ActionGIC is in effect from September 16, 2013 to April 14, 2014 inclusively. It is not an annual rate. The total rate of return may not exceed the maximum rate of 12% over three years. The maximum annual compound rate is 3.850% and is subject to change at any time. The amount invested is guaranteed, but there is no guaranteed minimum return. The interest payable on the 3-year Canadian Growth ActionGIC is based on the performance of the benchmark index on the date the investment is issued and on the three calculation dates indicated in the purchase agreement. The benchmark index is based on Mackenzie Canadian All Cap Dividend Class (Series LB). All fluctuations in the benchmark index will affect the final return, which can be known only when the investment has matured. Past performance is not an indicator of future performance. All 3-year Canadian Growth ActionGICs purchased between September 16 and September 25 will be issued on October 28, 2013. Those purchased between October 28 and December 6 will be issued on December 9, 2013. For funds purchased between December 9 and January 17, January 20 and February 28, or March 3 and April 11, the issue dates are January 20, March 3 and April 14 respectively. For more information on the 3-year Canadian Growth ActionGICs, please speak with an advisor at your branch. Certain conditions apply. This offer cannot be combined with any other promotion. The Bank reserves the right to terminate or change this offer at any time, without notice.
SOURCE Laurentian Bank of CanadaFor further information:
Public Relations Advisor
514 284-4500, extension 4695