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How are returns for Market Growth GIC products calculated?

There is a guaranteed minimum return and the potential for a bonus return. The bonus return for a Market Growth GIC, is calculated as the percentage change, if any, in the underlying index or indices over the term of the GIC. The guaranteed minimum return plus the bonus return cannot exceed the Maximum retururn set for each product at the time of purchase. The Maximum Return for the 3-year TD Canadian Banks GIC is currently set at 12% total (subject to change). If the return of the underlying index over the three years is 25%, you will receive 12%. If the return of the underlying index over three years is negative, you will receive no bonus return, but you will still receive the guaranteed minimum interest return.