Released on April 25, 2003
Series 12 Saskatchewan Savings Bonds (SSBs) will be available for purchase June 7th - 25th."Bonds will again be available to Saskatchewan people at a competitive rate of return," Finance Minister Jim Melenchuk said. "History has shown that Saskatchewan people support the bond program, and we are pleased to continue the tradition of offering a safe and secure investment opportunity within our province. The minimum purchase level is $100, making the bonds readily affordable to investors at all income levels."
The savings bonds are fully guaranteed by the province and are available only to Saskatchewan residents. The interest rate will never drop below the initial rate, but may go up depending on market conditions. Bonds are redeemable annually without penalty for the full amount plus interest. The minimum purchase level is $100 and the maximum purchase level is set at $200,000 per bondholder.
Series 12 bonds will be available at local credit unions, chartered banks, trust companies, investment dealers and authorized agents throughout Saskatchewan. The interest rate for the bonds will be announced closer to the actual sales period.
Holders of maturing Series 7 SSBs have the option of cashing in their bonds or reinvesting in Series 12 Bonds. Series 7 Bonds mature July 15th, 2003 and no interest will be earned after this date.
"Saskatchewan Savings Bonds have been a valuable way of reducing our out-of-province borrowing since they were introduced in 1992," Melenchuk said. "All interest paid on the bonds stays here at home, in the pockets of Saskatchewan people."
Last year's campaign saw more than $52 million worth of Saskatchewan Savings Bonds sold, bringing the total amount of bonds held by Saskatchewan residents to just over $799 million.
New or current investors with questions about any series of SSBs are encouraged to call 1-800-667-4000 or e-mail saskbond@finance.gov.sk.ca . Or, check out information by clicking on the Saskatchewan Savings Bond link at www.gov.sk.ca/finance.
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For More Information, Contact:
| Lorri Thacyk Finance Regina Phone: (306)787-6605 Email: lthacyk@finance.gov.sk.ca |