(February 1 – 11:35 ET) – Scotiabank has introduced a new Stock-Indexed GIC with a return based on the performance of the S&P 500 Index. The U.S. Market Stock-Indexed GIC allows Canadians to realize the potential of U.S. stock market gains without risking their principal investment, and to diversify their RRSP portfolios.

“Canadians can benefit from the higher growth potential of U.S. stock markets while enjoying the peace of mind that comes from knowing that the value of their initial investment is always guaranteed,” said Wendy Hannam, Senior Vice-President, Retail Deposits and Investments. “With its return based on the S&P 500 Index — the recognized standard for measuring large-cap US stock market performance — this new GIC also diversifies your portfolio by linking your investment to foreign markets. Diversification is one of the key steps to successful investing.”

The Scotia U.S. Market Stock-Indexed GIC is RRSP eligible and does not count towards the 20% foreign content limit of your registered retirement savings plan. With the principal guaranteed, the GIC can yield a return as high as 30% over the three year term.
-IE Staff