Sentry Select Capital Corp. said today that its offering of Sentry Select Principal-Protected Blue-Chip Notes Series V has raised gross proceeds of $35,168,400.
The total amount raised in the Sentry Select Principal-Protected Blue-Chip Notes series was $165,670,400.
The performance of the deposit notes is linked to a benchmark portfolio composed of 15 blue-chip Canadian income trusts, 15 Canadian blue-chip stocks and 15 American blue-chip stocks. The portfolio has been chosen by Sentry Select Capital Corp.
Sentry Select is a wealth management company with total assets under management of approximately $4 billion.
At maturity, after eight years, investors will be repaid their principal, plus appreciation in the benchmark portfolio, if any.
The notes are issued by National Bank of Canada. The bank may redeem the notes after four years at a price that will give investors the equivalent of an annual compounded rate of return of approximately 8%.
Sentry Select says a weekly secondary market will be maintained by National Bank Financial under normal market conditions to ensure the notes’ liquidity. However, there is no assurance that a secondary market will develop.
Redemption of notes within 24 months of their issue will be subject to an early sales charge, Sentry Select adds.
Sentry Select note offering raises over $35 million
Deposit notes linked to mix of investment trusts, stocks
- By: IE Staff
- March 14, 2005 March 14, 2005
- 13:30