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Ottawa, November 25, 1998
1998-112
Canada Savings Bond Series 55 and Canada Premium Bond Series 4 Sales End December 1
Secretary of State (International Financial Institutions) Jim Peterson today announced that Canada Savings Bond Series 55 and Canada Premium Bond Series 4 will be withdrawn from sale at the close of business, December 1, 1998.
Canada Savings Bond Series 55, with an issue date of December 1, 1998, features a minimum guaranteed interest rate of 3.75 per cent for the first year and is cashable at any time.
Canada Premium Bond Series 4, with an issue date of December 1, 1998, features guaranteed interest rates of 4.00 per cent for the first year, 4.25 per cent for the second year and 4.50 per cent for the third year. The annual compound rate of return based on these guaranteed rates is 4.25 per cent if a Compound Interest bond is held for three years. Canada Premium Bonds are redeemable once a year on the anniversary of the issue date and during the 30 days thereafter without penalty.
Canada Savings Bond Series 56 and Canada Premium Bond Series 5, with an issue date of January 1, 1999, will be on sale from December 2, 1998 to January 1, 1999. Interest rates for these series will be announced December 2, 1998.
There are plans for three more consecutive monthly series of each bond until April 1, 1999. Interest rates for successive series will be announced at the start of sales for each issue.
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
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