EVERBANK FINANCIAL CORP New CD provides exposure to Gold, Silver, Copper, Nickel, Soybeans, and Sugar
August 25, 2016 - Jacksonville, FL - EverBank announced the launch of the five-year MarketSafe® Focused Commodities CD, which combines the market potential of gold, silver, copper, nickel, soybeans and sugar. This indexed and U.S. dollar-denominated CD offers 100% principal protection and the ability to earn up to a 50% upside payment at maturity if the commodities increase in value across annual pricing dates.
'Current commodity prices are relatively low, which makes now a great time to consider opening our new MarketSafe Focused Commodities CD,' said Frank Trotter, EVP & chairman of EverBank Global Markets. 'This CD, which offers 100% deposited principal protection, is a limited time opportunity that brings together 6 equally weighted commodities poised for success into one powerful CD.'
EverBank created the FDIC-insured1 Focused Commodities CD for individuals interested in exposure to commodities but concerned about the obvious risk. The CD opened for funding on August 25, 2016. The funding period ends on October 13, 2016 and CD will be issued on October 24, 2016.
'EverBank's MarketSafe Focused Commodities CD presents unique opportunities,' said Chris Gaffney president of EverBank World Markets. 'The commodity market peaked in early 2011 and today, many of the commodities represented in our new MarketSafe CD are currently sitting at or near multi-year lows, and we can't predict just how long this window of opportunity will remain. We designed this CD as a safer way for our clients to diversify and seek potential gains from the commodity market.'
EverBank's MarketSafe ® Focused Commodities CD has a minimum deposit of $1,500 and no monthly account fee. Returns are based on CD performance; this indexed CD does not pay a periodic rate of interest or annual percentage yield and OID reporting rules apply.
For more information on MarketSafe® CDs or to see the MarketSafe ® Focused Commodities CD Term Sheet, visit www.everbank.com/6commodities. You can contact an EverBank World Markets Specialist at 800.926.4922, or email your questions to worldmarkets@everbank.com. EverBank, Member FDIC.
Important Disclosures
MarketSafe® CDs, if held to the Maturity Date, will have a guaranteed return of the deposited principal ('Principal Protection'). Principal Protection only applies to CDs held to maturity. In the event of Bank failure, the CD balance is FDIC insured up to $250,000. Your other deposits with EverBank will be aggregated with the MarketSafe CD with respect to the $250,000 maximum. Except in the event of death or adjudication of incompetence of the holder of the MarketSafe CD, you may not withdraw any part of the CD prior to maturity. If you do withdraw early, even if that is due to the death or adjudicated incompetency of the holder of the CD, you will NOT receive Principal Protection and will NOT benefit from any upside potential of the Reference Index, experiencing a loss of principal as an early withdrawal charge. See the MarketSafe Deposit Account Disclosures in the Account Terms, Disclosures and Agreements Booklet for more information.
These commodities are not being acquired by you or EverBank. The Market Upside Payment of this CD will be based on the weighted value of selected indices reflecting the performance of the stated commodities as measured on the Initial Value Date and on the established Pricing Dates, subject to a 50% cap for each commodity at each Pricing Date, as described in the Product Calculation Rules in the Term Sheet (the 'Reference Index'). On each established Pricing Date, the interim prices for the commodities of the MarketSafe® Focused Commodities CD (the 'Interim Prices') will be quoted from Bloomberg, using the following symbols: Gold=GOLDLNPM Index, Silver=SLVRLN Index, Copper=LOCADY comdty, Nickel=LONIDY comdty, Soybeans=S1 comdty and Sugar=SB1 comdty. In the event that the Reference Index (or any component of the Reference Index) ceases to be quoted or is materially changed, EverBank reserves the right to use an alternative equivalent index or price determination in its discretion. See the MarketSafe Deposit Account Disclosures in your Account Terms, Disclosures and Agreements Booklet for more information.
For U.S. federal income tax purposes, EverBank intends to treat this MarketSafe CD as a 'contingent payment debt instrument.' Under federal tax regulations applicable to such instruments, we will report and you will be required to include on your federal income tax return as interest income an amount of original issue discount ('OID') for each year that you hold this CD, even though actual interest payments on this CD (if any) will not be made until maturity. This deemed accrual will be based on a comparable EverBank Yield Pledge® CD interest rate for an equivalent term. The Deemed Interest Rate will be fixed following the Issue Date and will be reflected on your CD confirmation. Please see the MarketSafe Deposit Account Disclosures in your Account Terms, Disclosures, and Agreements Booklet for additional information. You should consult your own tax advisor concerning the income tax consequences of investing in this CD.
EverBank Financial Corporation published this content on 25 August 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 September 2016 21:03:04 UTC.
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