| Q. |
What is the redemption window for redeeming Ontario Savings Bonds?
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| A. |
Variable-Rate and Step-Up Bonds may be redeemed up to 14 calendar days following each redemption date on
either June 21 or December 21. Fixed-Rate Bonds can only be redeemed at maturity.
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| Q. |
Where can Ontario Savings Bonds be redeemed?
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| A. |
OSBs can be redeemed at any Canadian financial institution or investment dealer in which a bondholder
has an account.
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| Q. |
Which type of Ontario Savings Bonds can be redeemed prior to maturity?
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| A. |
Variable-Rate and Step-Up Bonds can be redeemed semi-annually prior to maturity, at the option of the
bondholder(s), on either June 21 or December 21. Bondholders have an additional 14 calendar days from
the redemption date to redeem their bonds.
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| Q. |
Can a portion of an Ontario Savings Bond be redeemed?
|
| A. |
Yes. In order to redeem a portion of the principal amount of a single OSB, the OSB certificate must
first be submitted to the Registrar. The Registrar will exchange the OSB for the equivalent principal
amount of smaller authorized denominations which will include the amounts to be redeemed. The Registrar
will then return the certificates in the new denominations to the bondholder(s), which can then be
surrendered at a financial institution for redemption. Exchanges are not permitted on a Redemption
Date or during the 15 days immediately preceding.
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| Q. |
Can arrangements be made prior to the redemption date to redeem an Ontario Savings Bond upon Maturity?
|
| A. |
Yes. Arrangements may be made, with a Canadian financial institution where a bondholder has an account,
to have an OSB held until the Maturity Date. Please note, not all financial institutions offer this
service to their clients.
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| Q. |
What happens if a Redemption Date falls on a Saturday, Sunday or a holiday?
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| A. |
If a Redemption Date falls on a Saturday, Sunday or a holiday, the redemption will be processed on
the first business date following the redemption date. Interest will only be paid up to and including
the redemption date.
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| Q. |
If the Bondholder is a minor, how can the Ontario Savings Bonds be redeemed?
|
| A. |
If the OSBs are registered in the name of a minor and the minor has a bank account in his/her name,
he/she will be able to redeem the bonds. If the bonds are registered in the name of the parent or
guardian, the parent or guardian may redeem the bonds on behalf of the minor.
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| Q. |
When are Fixed-Rate Bonds redeemable?
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| A. |
Fixed-Rate Bonds are redeemable only on or after the Maturity Date. They are not redeemable during
their three-year term.
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| Q. |
If I move out of Ontario, how do I redeem my Ontario Savings Bond?
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| A. |
If you move out of Ontario, you are not obligated to redeem your OSB, as you were an Ontario resident at
the time of purchase. However, if you wish to redeem the OSB, you may do so by presenting the OSB certificate
to a Canadian financial institution in which you have an account.
Variable-Rate and Step-Up Bonds may be presented for redemption semi-annually on each redemption date
and the 14 days immediately following each redemption date. Fixed-Rate Bonds are not redeemable prior to
their maturity date.
If you no longer have an account in a Canadian financial institution, you can request redemption
of your OSB through the Registrar. The OSB certificate must be submitted to the Registrar along with
a written request for redemption, signed by all bondholders.
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