Bank Leumi has launched its first Canadian-linked product for Israeli investors as part of its range of capital-guaranteed structured deposits.
The 2.5-year shekel-denominated deposit uses an uncapped call pay-off profile and is linked to the S&P/Toronto Stock Exchange 60 Index. The product guarantees the initial investment at maturity and will pay out a participation rate of 110% on the positive performance of the underlying, with the interest income linked to the dollar-shekel exchange rate.
Bank Leumi said the Canadian economy has presented consistent growth and improvement throughout the economic crisis and that it is set to continue the positive upward trend as it has a strong currency supported by a responsible fiscal policy. Canada will also benefit from the current high global crude oil prices as Canada is a net crude exporter.
This product will be available until 15 April. Minimum investment is NIS15,000 ($4,232).
This product will be available in Recent Additions (Offshore & other).