Bo - Wednesday, October 19, 1983 - North Shore News Ei business FIRST YEAR OF NEW ISSUE 9.25 per cent CSB yield announced THE HONOURABLE Mare Lalonde, Minister otf Finance, has announced that the 1983-84 Senes of Canada Savings Bonds will offer in- vestors 9 2S per cent interest in the first tull year and a guaranteed minimum of 7.00 per centin each of the follow- ing SIx years tO Maturity in 1990. Lalonde also announced that the individual purchase limit for bonds of this new series will be $50,000. ** This Ibmit, however, will not restrict holders of maturing Series S-29 bonds from con- verting the full principal amount of their ceruficates coming due November 1,” the Minister said. ‘The maturing amount can be ad- ditional to the $50,000 limit.”” Lalonde said he anticipates ‘‘strong publhc demand for the new issue because of the altractive first-year return as well as other valuable features of CSBs.’’ He also emphasized that the 7.00 per cent rate offered after the first year “‘is a minimum and, as in past years, may be ad- justed upward.”’ Canada Savings Bonds of the new Series (S-38) wall go on sale Monday, October 24, and no accrued interest will be charged when purchased between November 1 and November 7, inclusive. However, as in past Senes of CSBs, the Minister reserves the right to terminate sales at any time at his discretion. ’ The Minister also. an.- nounced that the rate ot return on 1982-83 Series (S-37) has been increased to terest will be paid on bonds of this issue cashed during the initial two months from the November | date of issue. Interest on this Series wall ac- crue on a monthly basis. In cases where Regular Interest Bonds are redeemed during the months of September and October in any year, un- earned interest will be deducted from the redemp- tion proceeds and a_ full year’s interest will be for- warded to the investor on the following November 1. The bonds may be ac- quired only by bona fide residents of Canada, estates of deceased persons, or registered in the name of a trust. governed by certain types of deferred savings and income plans, including Registered Retirement Sav- ings Plans, Registered Home Ownership Savings Plans, registered pensions, deterred profit) sharing plans, employee profit sharing plans and Registered Retirement Income Funds. The cash purchase limit for this new Series will be $50,000. This 1s also the max- imum amount of bonds an individual investor may ac- quire through combined pur- chases for cash, by payroll in- stalments and under the Monthly Savings Plan. However, there will be an ex- ception to this purchase limit for holders of the 1974-75 (S-29) Series of Canada Sav- ings Bonds which mature this fall. 24 HOURS TELEPHONE ANSWERING SERVICE ONLY $50 PER MONTH CLASSIFIED ANSWERING SERVICE 669-7973 9.25 per cent from 8.50 per cent for the year commencing November |, 1983. For all re- maining years to maturity, the guaranteed minimum an- nual rate of 8.50 per cent will continue to apply. For all other outstanding Senes of unmatured Canada Savings Bonds, the existing guaranteed minimum annual rate of return of 10.50 per cent will apply for the year commencing November — I, 1983. and tor all subsequent years to maturity The new Series will be dated November 1, 1983 and will again be offered in two forms Regular Interest Bonds which pay interest an nually by cheque or direct deposit, and © ompound In terest. Bonds. on which in terest is lett to accrue and annually to JUST ANOTHER ANSWERING SERVICE More people rely on Wes-Tel’s superior answering service than any other—because courteous, efficient operators who keep you in touch up to 24 hours a day, 7 days a week areconiy the beginning. 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