Issuing Bank: | Gold Depository Trust Bank, Inc. |
Type: | Participating Gold-Backed Time Deposit Certificates. |
Fixed Term: | One, Two, Three, Four or Five Years. |
Min. Investment: | YWG 5,000 (equivalent value: USD 5,000) |
Roll-Over: | Unless the Bank receives a written notice at least two weeks prior to maturity, each CD will automatically roll-over and renew for consecutive one-year periods, until redeemed, based on the same terms and conditions. |
Money of Issue: | “YWG” Gold Units, the new 100% gold-backed monetary unit of the Cordillera Nation: |
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Exchange Rate: | Conversion: 1.00 YWG = 1.00 USD |
Downside Risk: | 5% maximum capped downside risk for the investor. |
Participation in the Upside: |
Pays 80% of any appreciation in the market price of gold relative to the USD at maturity. |
Reference Price at Issuance: | 1 troy ounce of gold based on the 2nd London LBMA Fixing on the day prior to issuance. |
Reference Price At Maturity: |
1 troy ounce of gold based on the 2nd London LBMA Fixing on the day prior to maturity. |
Rate of Return: | Variable. Based on the market Price of gold. |
Redemption: | Settlement in YWG Gold Units at maturity (proceeds convertible into foreign currencies if desired). |
Option: | At maturity, account holders have the option, upon delivery of a notice to the bank, of either: (a) opening a YWG account and depositing the YWG redemption proceed in it, or (b) converting the CD’s YWG value to USD (1.00 YWG = 1.00 USD) and transferring the USD amount to another bank as instructed. |
Tax Treatment: | If the CD is either rolled-over at maturity, or settlement is in YWG gold units, there will be no capital gains tax due and payable in the Cordillera Nation where the intrinsic value of YWG is treated as intrinsic value derived from Gold’s divine origins. |
Foreign Taxes: | If YWG is converted into USD and transferred at maturity, any appreciation in the price of gold may be taxable in the holder’s country of residence. The Bank does not give tax advice. |