Press Releases
BNP Paribas Step-Over Bonds, Series 1 Extension
ONE Financial extends offering period for unique ONE Financial BNP Paribas Step-Over™ Bonds to March 31, 2004
Toronto, Ontario - March 5, 2004
ONE Financial is pleased to announce today that it is extending the offering period for its ONE Financial BNP Paribas Step-Over™ Bonds. The offering was originally scheduled to close March 15th, but in response to significant demand from Canadian investors, the unique Bonds will now remain available for purchase until March 31st, 2004.
"The strong demand that we have had for this offering reflects that there is still a very large appetite out there for income products offering high-income potential," said Jeffrey O'Brien, ONE Financial's Chief Executive Officer, "however unlike income funds and income trust products, Canadian investors like the Bonds for their 100% principal guarantee. Basically this is a smart option for fixed-income investors seeking higher returns than they could normally get from other principal guaranteed investments."
The Bonds provide an annual income of up to 10% per year (through a variable semi-annual coupon payment of up to 5% every six months), and are 100% principal guaranteed at maturity in 2011 by BNP Paribas, one of the world's largest banks. The Bonds are unique in that they are one of the first equity-linked bank deposit products in Canada designed to provide investors with a regular income stream; until now equity-linked products have typically only provided compounded returns at maturity. This represents another first in the Canadian marketplace for financial innovator ONE Financial, and according to O'Brien, "another success in providing investors with safer ways to pursue attractive returns."
Potential investors interested in the Bonds should speak to their financial advisor, or contact ONE Financial directly at 1.866.360.7888.
