TORONTO: Sentry Select Capital Corp. is pleased to announce that $46,478,100 principal amount of Sentry Select Rogers International Commodity Index Principal-Protected Notes has been issued. Sentry Select Capital Corp. is also pleased to announce the launch of Sentry Select Rogers International Commodity Index Principal-Protected Notes, Series 2.
Benchmark PortfolioSentry Select Rogers International Commodity Index Principal-Protected Notes, Series 2 (the “Notes”) are deposit notes, issuable in series by National Bank of Canada. The performance of the Notes is linked to the appreciation of (i) a portfolio of commodities managed by Diapason Commodities Management SAi with the objective to replicate the performance of the Rogers International Commodity Index™ (RICI) and (ii) certain fixed income and/or money market instruments (the “Benchmark Portfolio”).
Marketing AgentSentry Select Capital Corp. is the marketing agent of the Notes.
IssuerNational Bank of Canada (the “Bank”) is the issuer of the Notes.
Investment ManagerDiapason Commodities Management SA , a Swiss company, of which Jim Rogers is founder and principal shareholder.
Payment at MaturityAt maturity, after eight years, investors will be repaid their principal, plus appreciation in the Benchmark Portfolio, if any. The fluctuation of the value of the Benchmark Portfolio will directly impact the return payable. It is therefore possible that no return will be paid.
LiquidityA weekly secondary market will be maintained by National Bank Financial under normal market conditions to ensure the Notes’ liquidity. There is no assurance that a secondary market will develop. Sale of Notes within 24 months of their issue will be subject to an early trading charge.
Annual IncomeOn each anniversary date of the issuance of the Notes, subject to certain conditions, the investors may be entitled to receive an amount per Note equal to (i) the sum of, for each day of that year, the Canadian overnight financing rate of the Bank of Canada, less 0.50%, divided by 365, multiplied by a specified amount of cash or cash equivalent instruments held in the Benchmark Portfolio for that day, (ii) divided by the number of Notes outstanding. If the value of the Benchmark Portfolio becomes equal to or less than a specified level, no amount will be paid to the investors on any anniversary date of the Notes. At current interest rate levels and considering the initial Investment Level, the annual coupon is estimated to be 1.9%.
Terms of the OfferingAn investment in the Notes is subject to certain risks. The complete terms of the offering, including a discussion of certain risks relating to an investment in the Notes, are set out in an Information Statement, which can be obtained by investors from their financial advisor.
Issue Price and Minimum InvestmentThe issue price of the Sentry Select Rogers International Commodity Index Principal-Protected Notes, Series 2 is $100 per note with a minimum investment of $2,000 (20 notes).
Selling PeriodSentry Select Rogers International Commodity Index Principal-Protected Notes, Series 2 are available for sale until December 16, 2005.
FundSERVThe FundSERV code for Sentry Select Rogers International Commodity Index Principal- Protected Notes, Series 2 is SSC 052.
Sentry Select Capital Corp.Sentry Select Capital Corp. is the Marketing Agent of the Notes. Sentry Select is a wealth management company with gross assets under management in excess of $9 billion. It is the portfolio manager of 17 closed-end trusts, 4 flow-through limited partnerships and 11 mutual funds; the manager of an investment corporation; the marketing agent for a series of principal-protected notes; and the administrator of 3 closed-end trusts.
More informationInvestor Services (investor inquiries) or Brian McOstrich (media inquiries)Tel: 1-888-246-6656 Fax: 416-364-1330 email@example.com www.sentryselect.com
The Notes are not sponsored, endorsed, sold or promoted by James Beeland Rogers, Jim Rogers or Beeland Interests Inc. (collectively “Beeland”) or Diapason Commodities Management SA (“Diapason”). Beeland and Diapason make no representation or warranty, express or implied, to investors in the Notes or any potential investor, governmental authority, or any member of the public, regarding the advisability of investing in securities or commodities generally, or in the Notes or futures particularly. “Jim Rogers”, “Rogers International Commodity Index”, “RICI” are trademarks and service marks owned by Beeland.”
Documents (including press releases) regarding the various investment funds that are managed or advised by Sentry are provided for information purposes only and cannot be relied on to be complete, exhaustive or error-free unless the complete set of documents for any given investment fund with respect to which information is being sought is reviewed and then only on SEDAR (www.sedar.com).