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Newspaper
Roblin Review
Location
Roblin, Manitoba, Canada
Date
Oct 11, 1978
Page
6
Canada Finance Minister Jean Chretien announced the 1978-79 Series of Canada Savings Bonds going on sale October 2 with an average yield of 8.9 percent over a seven year term. Buyers face a $30,000 limit, two bond types, and reinvestment options for maturing series.
The issue presents 5 000 and 10 000 denomination bonds plus a 100 unit option. Regular Interest Bonds are sold for cash with annual interest via cheque or direct deposit to bank accounts. Bonds may be exchanged for equal value until September 1, 1979. Additional bonds available through Payroll Savings Plan or monthly instalment plans with an 8.90 percent guaranteed rate, compounded after year one.
Maturity values and redemption options for Series bonds include cashing at face value plus accrued interest or exchanging for Regular Interest Bonds. System aims to speed investor inquiries and ensure prompt payments. Tax treatment requires reporting interest as income, with options for Regular or Compound Interest Bonds and consistency across all Government of Canada securities.
Locate and identify the cash value of your S24 or SR bonds. Bond holders receive face value plus a cash bonus and any interest. Present S24 SB Series Canada Savings Bonds at a bank or redemption agent to reinvest in the 1978/79 series and potentially buy up to 30000 more. Over 900000 Canadians own maturing bonds, so act now to reinvest.
The notice presents two Series options the Regular Interest Bond paying annual interest each November 1 and offering direct deposit or cheque options and the Compound Interest Bond earning interest on interest at 8.90 percent with growth examples. It emphasizes safety liquidity and retirement investment potential.
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