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Ottawa, March 29, 2001
2001-035
Canada Premium Bond Series 20 and Canada Savings Bond Series 71 Sales End Sunday, April 1, 2001
Secretary of State (International Financial Institutions) Jim Peterson today announced that Canada Premium Bond (CPB) Series 20 and Canada Savings Bond (CSB) Series 71, which went on sale March 2, 2001, will be withdrawn from sale at the close of business on Sunday, April 1, 2001. This will end the 2000 sales campaign that began October 2, 2000.
CPB Series 20, with an issue date of April 1, 2001, and a 10-year term to maturity, features guaranteed interest rates of 4.35 per cent for the first year, 4.45 per cent for the second year and 4.55 per cent for the third year. The annual compound rate of return, based on these guaranteed rates, will be 4.44 per cent for compound interest bonds if held for three years. CPBs are redeemable once a year on the anniversary of the issue date or during the 30 days thereafter without penalty.
CSB Series 71, with an issue date of April 1, 2001, and a 10-year term to maturity, features a minimum guaranteed interest rate of 3.65 per cent for the first year and is cashable at any time.
CPB Series 20 rates for the remaining seven years to maturity and CSB Series 71 rates for the remaining nine years to maturity will be announced at future dates.
As April 1, 2001, falls on a Sunday, early redemption and purchase arrangements have been made with financial institutions for those wishing to buy CPB Series 20 or CSB Series 71 before Sunday.
Canadians can also buy CPBs and CSBs directly by calling toll-free 1 888 773-9999 between 8 a.m. and 8 p.m. Eastern Time, Monday to Friday, and between 8 a.m. and 5 p.m. on Saturday, March 31, 2001.
After this issue, New Canada Savings Bonds will be on sale again in October 2001.
As in the past, the Minister of Finance reserves the right to terminate sales at any time.
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For further information:
Canada Investment and Savings
Media Relations
(613) 992-9033
If you would like to receive automatic e-mail notification of all news releases, please visit the Department of Finance Canada Web site at http://www.fin.gc.ca/scripts/register_e.asp
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| Last Updated: 2002-11-26 |
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