Mackenzie Financial Corp. and BMO Financial Group today announced the launch of MSP ArMADA Protected Deposit Notes, Series 7 & 8 (High-Water Mark Class).

The notes offer investors 100% principal protection at maturity, together with 100% protection of investment gains up to a target date six months prior to maturity. The value of the notes will fluctuate in the last six months but will never be less than the principal amount at maturity.

“We are pleased to offer this innovative new product with BMO,” said Brad Gerster, a senior vp of Mackenzie Financial and the head of Mackenzie Structured Products. “To our knowledge, these notes are the first investment products in Canada to deliver a daily lock-in of investment gains on a tax deferred basis.”

The notes provide investors with return potential based on the performance of Mackenzie Founders Fund, a diversified fund of funds that invests in four of Mackenzie’s most recognized funds: Mackenzie Growth Fund, Mackenzie Cundill Value Fund, Mackenzie Maxxum Dividend Fund and Mackenzie Ivy Foreign Equity Fund.

“Historically, this fund portfolio has delivered impressive returns with low volatility,” Gerster said. “That’s why we chose to link these notes to Mackenzie Founders Fund.”

The Series 7 notes will be available for purchase until November 2. The Series 8 notes will be available for purchase until December 14.

Investors should consult their financial advisors to discuss the features of the Notes. Investors should review the Information Statement for the Notes which is available from financial advisors or by visiting the Mackenzie Structured Products web site at www.mackenziefinancial.com/msp.