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FDIC Limits Increased
The Emergency Economic Stabilization Act temporarily increased the basic limit on deposit insurance for all account ownership categories from $100,000 to $250,000. This increase is effective from October 3, 2008 to December 31, 2009. IRAs and certain other retirement accounts for which the deposit insurance limit already was $250,000 prior to October 3, 2008 will continue to be insured up to $250,000. After December 31, 2009, account ownership categories for which the deposit insurance limit was $100,000 prior to October 3, 2008 will revert to the $100,000 limit.
This means that a CD with a maturity date after December 31, 2009 held in an account ownership category for which the insurance limit was up to $100,000 prior to October 3, 2008 will temporarily have an insurance limit of $250,000 and will revert to the $100,000 limit after December 31, 2009.
You should, therefore, take this into consideration when purchasing CDs.
We have the following CDs available
Please contact your representative, or 800 454-1628 or email us at orders@jwkorth.com to learn more about these investments:
Curve Steepener CDs |
| JPMorgan Bank, NA (Aaa/AA) |
| Settlement Date: | 10/31/08 |
| Maturity Date: | 10/31/23 |
| Call: | At Par 0/31/09, Quarterly thereafter |
| Coupon: | Paid Q/A/365 |
| Year One: | 12.00% |
| Year 2 to 15: | (30yCMS - 5yCMS), max 12.0%, min 0.00% |
| Maximum Coupon: | 12.00% |
| Minimum Coupon: | 0.00% |
| Offer: | 100.00% |
| Survivor option: | Yes |
| FDIC Insured: | Yes, up to applicable limits |
In the last 14 years CMS 30yr-5yr Spread has inverted on only 32 days (spread not available 2004-2006). Past performance is not an indication of future results. |
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| HSBC 10% 10/09/23 |
| Settlement Date: | 10/09/08 |
| Maturity Date: | 10/09/23 |
| Callable: | Quarterly at Par |
| Coupon Paid: | Quarterly |
| Year one: | 10.00% |
| Year 2 to 15: | 10 times the 10 year CMS – 2 year CMS |
| Offer: | 100.00% |
| FDIC Insured: | Yes, up to applicable limits |
*10cms-2cms is currently 108.00 bps and has averaged ~98bps since 1993. Since 1993 10's/2's have inverted only 33 days. Past performance is not an indication of future results.
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What is a Constant Maturity Swap Rate? Click here to learn more about CMS rates. View the Interest Rate Swaps rates on our new Rates page (at the bottom), by clicking here!
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Straight Coupon CDs |
| Issuer | Maturity/Call | Coupon | Pmts | Maturity Date | Call Date |
| Doral Bank (Catano, PR) | 10YR/6MO | 5.75% |
Monthly |
10/17/18 |
Call 4/09 |
| Doral Bank (Catano, PR) | 15YR/6MO | 6.125% | Monthly |
10/17/23 | Call 4/09 |
| Southwest Bank (St. Louis, MO) | 20YR/1YR | 6.00% | Monthly |
10/17/28 | Call 10/09 |
| M&I FSB (Las Vegas, NV) | 20YR/1YR | 6.00% | Monthly |
10/17/28 | Call 10/09 |
| Doral Bank (Catano, PR) | 20YR/1YR | 6.05% | Monthly |
10/17/28 | Call 10/09 |
| Doral Bank (Catano, PR) | 20YR/6MO | 6.25% | Monthly |
10/17/28 | Call 4/09 |
All these settle on 10-17-08
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CD sales may be restricted in certain states including Nevada and Wisconsin. This is not an offer to sell CDs in any state where such an offer would be illegal. |
If you are interested in learning more about any of the above products, please call 800 454-1628 or email us at orders@jwkorth.com and we will have someone get back to you shortly. |
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