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The market growth GICs or market stock-indexed GICs have their interest rates determined by the rate of growth of a specific stock market (such as the TSX or S&P 500).For example; if the TSX has a market growth increase of 30% in three years, beginning at the same point in time the GIC was issued, the GIC will return with an interest of 30%.
A guaranteed investment contract (GIC) is a contract that guarantees repayment of principal and a fixed or floating interest rate for a predetermined period of time. Guaranteed investment contracts are typically issued by life insurance companies qualified for favorable tax status under the Internal Revenue Code (for example, 401(k) plans).
Royal Bank of Canada (RBC; French: Banque Royale du Canada) is a Canadian multinational financial services company and the largest bank in Canada by market ...
RBC Bank is the trading name of RBC Bank (Georgia), N.A., the United States–based retail banking division of the Royal Bank of Canada (RBC) which is targeted toward Canadian snowbirds, expatriates, and frequent tourists. Despite its limited reach, RBC Bank is a federally chartered bank, thus its trading name bears "N.A." letters.
Redemption value is the price at which the issuing company may choose to repurchase a security before its maturity date. [1] A bond is purchased "at a discount" if its redemption value exceeds its purchase price.
If rates go down, many home owners will refinance at a lower rate. As a consequence, the agencies lose assets. By issuing numerous callable bonds, they have a natural hedge, as they can then call their own issues and refinance at a lower rate. The price behaviour of a callable bond is the opposite of that of puttable bond.
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