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Ottawa, October 30, 1997
1997-097
Canada Savings Bond Sales Period Ends Saturday, November 1
Finance Minister Paul Martin announced today that the 1997 Series of Canada Savings Bonds (Series 52) will be withdrawn from sale at the close of business on Saturday, November 1, 1997.
For the Canada Payroll Savings program, employers are reminded that applications will continue to be accepted until Friday, November 14, 1997.
Series 52 features minimum guaranteed annual interest rates for seven years. The first year rate is 3.00 per cent and the rate increases to 6.50 per cent in the seventh year. The minimum annual compound rate of return over seven years for a Compound Interest Bond based on these minimum guaranteed rates is 5.14 per cent, if held for seven years.
Rates for Series 53 bonds, on sale from November 2 to December 1, 1997, will be announced shortly. The Series 53 bond is available only for transfers into The Canada RSP and The Canada RIF.
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For further information:
Canada Investment and Savings Media Relations
(613) 943-1299
(613) 992-2550
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