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The last issue of the Scotia G7 Stock-Indexed GIC was issued on January 12, 2009.
For historical information on this GIC, please refer to Starting Index Values of current issues and Historical Performance of past issues.
The information below pertains to issues offered from November 20, 2007 to January 12, 2009. |
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With a rate of return tied to the performance of the key markets of the G7 countries (as measured by the Scotia G7 Index), our 3-year G7 Stock-Indexed GIC offers the upside potential of international stock markets and the security of principal of a GIC.
The Scotia G7 Stock Indexed GIC is also RSP/RIF eligible.
How It Works
You can purchase Scotia G7 Stock-Indexed GICs anytime with a minimum investment of $1,000. During the period between your purchase date and the next available issue date you earn interest at our regular 3-year non-redeemable GIC rate. On the issue date, this interest is added to the amount you invested and becomes the principal issue amount, which is fully guaranteed.
The term of your Stock-Indexed GIC starts on the issue date. The Stock-Indexed GIC is non-redeemable and non-transferable prior to maturity.
Your principal earns a potential return based on the percentage increase, if any, in the closing value of the Scotia G7 index during the period that starts two business days after your GIC issue date and that ends two business day prior to the maturity date of your GIC, which is then multiplied by the participation rate. The participation rate is set in advance of each new issue and varies by issue date.
If the closing index value two business days prior to maturity is less than or equal to the closing value two business days after issue, your return is 0%, but your guaranteed principal is returned. Principal and any interest earned are paid at, and not before, maturity.
The Scotia G7 Index Explained
In conjunction with Scotia Capital, Scotiabank has created the "Scotia G7 Index" based on a weighting of key market indices for each of the G7 countries as follows:
| Country |
Market Index |
Weighting
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Return Calculation Example
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Index % Change
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Weighted
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| United States |
S&P 5001 |
25% |
40.0% |
10.0% |
| Japan |
Nikkei 225 |
20% |
15.0% |
3.0% |
| Germany |
DAX 30 |
15% |
(10.0%) |
(1.5%) |
| France |
CAC 40 |
15% |
26.5% |
4.0% |
| UK |
FTSE 100 |
10% |
(5.0%) |
(0.5%) |
| Canada |
S&P/TSX 601 |
10% |
20.0% |
2.0% |
| Italy |
MIB 40 |
5% |
(9.5%) |
(0.5%) |
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100% |
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16.5% |
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Starting "G7 Index" = 100.0
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Ending "G7 Index" = 116.5
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Tracking the daily Scotia G7 Index value:
- Check the Daily Closing Index Values online.
- By phone - by calling 1-800-387-6507 (outside Toronto) or 416-288-3506 (in Toronto).
- At Scotiabank branches - from your branch representative.
Further Information:
Availability
The Bank of Nova Scotia (BNS) and its wholly owned subsidiaries, Montreal Trust Company of Canada (MTCC) and National Trust Company (NTC), issue Scotia G7 Stock-Indexed GICs.
Each of the other market indices used in computing the "Scotia G7 Index" is a property of a specific stock market exchange, none of whom are associated with, nor endorse, the product.
1 "Standard and Poor's", "S&P", and "S&P 500" are trademarks of The McGraw-Hill Companies and have been licensed for use by The Bank of Nova Scotia and its subsidiary companies. "TSX" is a trademark of The Toronto Stock Exchange and has been licensed for use by The Bank of Nova Scotia and its subsidiary companies. Scotia Stock- Indexed GICs are not sponsored, endorsed, sold or promoted by Standard & Poor's or The Toronto Stock Exchange and neither party makes any representation regarding the advisability of investing in these products.
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