Interest Payments
Annual Interest Bonds
Simple interest is payable on Annual Interest Bonds, on JUNE 21 of each year up to and including the Maturity Date for the Bonds, or
such earlier date on which the Bonds are redeemed, at the rate set for the Bonds for the relevant period. The interest will be paid by cheque mailed to
the address of the registered Bondholder, or by direct deposit to the deposit account of the registered Bondholder. Accrued interest payable on any
DECEMBER 21 redemption will be calculated and paid by the Redemption Agent where the Annual Interest Bond is presented for redemption at the time of
redemption. Interest computed for a period of less than one year, shall be calculated on the basis of the actual number of days in the period and a year
of 365 days.
Compound Interest Bonds
Interest on Compound Interest Bonds is compounded annually, on JUNE 21 of each year up to and including the Maturity Date, at the rate set
for the Bonds for each relevant period. Interest on Compound Interest Bonds accumulates, and is payable to the Bondholder when the Bonds are redeemed,
exchanged for Annual Interest Bonds of the same Type of Bond, or on the Maturity Date for the Bonds. Interest computed for a period of less than one year,
shall be calculated on the basis of the actual number of days in the period and a year of 365 days.
Interest Payments for Joint Holders
Where a Bond is registered in more than one name, the principal of and interest payable on the Bond shall be paid to or to the order of all joint registered
holders. Payment of interest by direct deposit will be made to the account for which information was provided on the Purchase Application Form (ONT1).
