(December 23 – 15:50 ET) – Canada Premium Bond series 11 and Canada Savings Bond series 62 will be withdrawn from sale at the close of business on January 1, 2000.
CPB series 11 will carry guaranteed interest rates of 5.00% for the first year, 5.40% for the second year and 5.80% for the third year. The annual compound rate of return, based on these guaranteed rates, will be 5.39% if held for three years. Interest rates for the remaining seven years to maturity will be announced in the future.
CPBs are redeemable once a year on the anniversary of the issue date which will be January 1, or during the 30 days thereafter without penalty.
CSB series 62 comes with a minimum guaranteed interest rate of 4.40% for the first year and is cashable at any time. Interest rates for the remaining nine years to maturity will be announced in the future.
With these latest issues closing the new ones, CPB series 12 and CSB series 63, will be on sale from January 4, 2000, to Feb. 1, 2000. Both these issues will also feature special edition millennium certificates. Interest rates for these series will be announced Jan. 4.