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Message
Power CD (Iberia Bank)........
Posted on 7/23/10 at 11:29 am
Posted on 7/23/10 at 11:29 am
Someone was telling me about a CD they have at Iberia Bank which is tied to a basket of 10 stocks. Does anyone have any other details about this?
This post was edited on 7/26/10 at 11:25 pm
4
Posted on 7/23/10 at 11:31 am to TJG210
quote:
Does anyone have any other details about this?
Yes. It's almost guaranteed to be a very poor investment.
(edited for temperment)
This post was edited on 7/23/10 at 11:52 am
Posted on 7/23/10 at 11:41 am to TJG210
I bank with Iberia.
I think that product is offered through their investment subsidiary, not through the bank itself, meaning no FDIC coverage, if that makes a difference to you.
I think that product is offered through their investment subsidiary, not through the bank itself, meaning no FDIC coverage, if that makes a difference to you.
Posted on 7/23/10 at 12:18 pm to TJG210
Sounds like a halfassed mutual fund
Posted on 7/23/10 at 2:57 pm to Camp Randall
Its called a 5 year 10 Stock Basket Power CD
Alcoa, ATT, Bank of Am, Intel, Mcdonalds, Kraft, Merck, Pfizer, Verizon, and Wally World.
Min Purchase: 10K/ 5K IRA (1K increments thereafter)
Term: 5 years
Alcoa, ATT, Bank of Am, Intel, Mcdonalds, Kraft, Merck, Pfizer, Verizon, and Wally World.
Min Purchase: 10K/ 5K IRA (1K increments thereafter)
Term: 5 years
Posted on 7/24/10 at 2:27 am to FigJam
What are the advantages of doing this over just buying the stocks? Is there a minimum rate of return?
Posted on 7/24/10 at 8:16 am to TJG210
IberiaBank just gave me a great deal on a home loan.
So they are cool in my book.
So they are cool in my book.
Posted on 7/26/10 at 11:28 pm to FigJam
quote:
Its called a 5 year 10 Stock Basket Power CD
Have you ever purchased this product? From what I was told you are guaranteed a 3% rate of return, and it could possibly go up to 6%. You are also paid quarterly.
What is the tax implications of this product? Are you taxed on the quarterly earnings?
How can they guarantee a return on something that's tied to stocks?
Posted on 7/27/10 at 10:19 am to TJG210
sounds a lot like an indexed annuity.
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