BMO Callable Equity Linked GIC
| BMO Callable Equity Linked GIC |
|
| Item |
Details |
| Term(s) |
5 years, if not called
3 years, if called |
| Access to Funds
|
Not-redeemable prior to maturity |
| Interest Payment Option |
At maturity only |
| Minimum Investment Amount |
$1,000 |
| Plan Eligibility |
RSP |
| Automatic Reinvestment |
Yes, unless other instructions provided
Non-registered:
1 year GIC at current rate
RSP:
1 year GIC at current rate or RSP Premium Rate Savings account |
| Issued By |
Bank of Montreal Mortgage Corporation (BMMC) |
| Transferability |
No |
| Available to Business Banking Client |
Yes, Non-registered only |
| Statements |
Semi-Annual Statement (January/February & July/August)
Monthly Account Tracker Statement |
| Available to Non-Residents |
No |
| Continuous Savings Plan Option |
No |
| Guaranteed By |
Bank of Montreal |
| Total Return Potential for the Term |
If not called: Unlimited* - return is linked to the performance of the reference portfolio
If called: 10% annual compound return, or 33.10% total return for the term |
| Availability |
Available in a monthly Series. See the Series tab for the current available monthly Series. |
| CDIC Eligibility |
Eligible for CDIC deposit insurance (up to applicable limits) |
| Reference Portfolio for the Series |
| S&P/TSX Capped Financials Index™ |
50% |
| S&P/TSX Capped Utilities Index™ |
50% |
| Total |
100% |
The S&P/TSX Capped Financials Index is an index of financial services companies drawn from the constituents of the S&P/TSX Composite Index. The index includes banks, insurance companies, investment management companies and more. The index is built in such a way that no company can have more than a 25% relative weighting in the index.
The S&P/TSX Capped Utilities Index is an index of utility companies drawn from the constituents of the S&P/TSX Composite Index. The index includes utilities involved in the production, transportation and sale of electricity, natural gas, water and more. The index is built in such a way that no company can have more than a 25% relative weighting in the index. |
| Tax Treatment |
Non-registered only:
The returns, if any, will be taxed at maturity as interest income. |
| Callable feature |
Callable 3 years from the issue date*
If called, the Bank will pay the investor a premium 10% annual compound return (total return of 33.1% for the term).
If the GIC is not called, the investment will carry on to the full term (5 years) and the investor will participate in the appreciation of the reference portfolio.
*If called, investors will receive a Call Notice confirming the details. |
| Terms and Conditions |
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