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Scotia adds index GIC

FP/with wire services

Financial Post, Daily edition, Wednesday, September 17, 1997

Bank of Nova Scotia (BNS/TSE) has introduced a non-registered version of its G7-index guaranteed investment certificate. The Scotia G7 Stock-Indexed GIC provides a return linked to stock markets of Group of Seven countries. A version of the GIC, eligible for registered retirement savings plans and registered retirement income funds, was unveiled early this year, along with a Canadian index GIC. The three-year G7 GIC is linked to performance of stock indexes in the G7 countries -- Canada, the U.S., Japan, Britain, Germany, France and Italy -- as determined by the increase in the Scotia G7 Index (a composite weighting of key market indexes for each G7 country) over the three-year term, up to a specified maximum, currently 30%. If the index declines, only the principal is returned. Investors can lock in a return on the second anniversary of their investment.

Source: This information is provided by the Financial Post.

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