National Bank offers S&P Income Trust Index notes due 2014

By Jennifer Chiou

New York, March 22 - National Bank announced it is offering S&P Income Trust Index notes due April 14, 2014, which have full principal protection and an unlimited potential return at maturity.

The return on the securities is dependent on the performance of the S&P Income Trust Index, which is made up of 72 of the largest income trusts in Canada.

Variation in the benchmark portfolio of the note, which corresponds to the variation in the return of the underlying assets, will have a direct impact on the payable interest, National Bank added.

Each note costs C$100.00 and the minimum investment is C$2,000.

National Bank said the product is intended for investors who want to reduce the risk related to investing in income trusts.

Sales are being made through National Bank Direct Brokerage, National Bank Financial and investment advisors and financial planners in Canada.

Montreal-based National Bank provides financial and banking services, including corporate and investment banking.

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