Printer Friendly

NATIONSBANK INTRODUCES STOCK MARKET CD

 CHARLOTTE, N.C., Oct. 14 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) introduced today a stock-index certificate of deposit that pays annual interest based on the performance of the Standard & Poor's (S&P) 500 index.
 The NationsBank Stock Market CD is a five-year investment product that enables customers to participate in the stock market's long-term growth without risking principal. Interest is calculated and paid, if applicable, annually.
 To calculate interest for each 12-month period, NationsBank averages the month-end values of the S&P 500 and compares the resulting value to the index at the start of the period. The percentage increase of the average value over the beginning value, if any, is the interest rate paid. If the average value is less than, or equal to, the beginning value, no interest is paid.
 The CD is offered for a minimum investment of $10,000. Additional product features include:
 -- A customer's principal is FDIC insured and is returned in full at
 maturity, regardless of the stock market's performance.
 -- The beginning index value of the CD is reset at the start of each
 annual period to the closing value of the S&P 500 from the
 previous 12-month period. In the event of a down market,
 customers can earn a return in subsequent years without having to
 recoup market losses.
 -- Customers pay no sales fees or commissions, unlike most
 securities investments.
 Beginning October 15, NationsBank will make the Stock Market CD available to customers through its Private Bank and Professional & Executive Banking units. In addition to these units, the product will be sold through the Stock Market CD Investment Center at 1-800-400-7616, 24-hours-a-day, seven-days-a-week. In Texas, customers will be able to invest in the Stock Market CD at their local banking centers. Texas is the only market in which this option is available.
 NationsBank Corporation is the fifth-largest U.S. banking company with $124 billion in assets and full-service offices in nine states and the District of Columbia.
 -0- 10/14/93
 /CONTACT: Fred Hannon, 704-386-9535, or Martha Larsh, 214-508-0633, both of NationsBank/
 (NB)


CO: NationsBank Corporation ST: Texas IN: FIN SU: PDT

SB -- CH007 -- 2159 10/14/93 11:08 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 14, 1993
Words:358
Previous Article:THE LISTENING POST -- A NEW ERA BEGINS
Next Article:CENTURA COMPLETES MERGER WITH FIRST SAVINGS BANK OF FOREST CITY
Topics:

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters