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Bonds

Certificates of Deposit

Certificates of Deposit (CDs) are issued by banks and savings institutions when they are in need of funds for various purposes. All Morgan Keegan CDs are government guaranteed by FDIC insurance up to $100,000 principal and interest. CDs offer the investor a yield that is generally higher than U.S. Government and federal agency securities.

Morgan Keegan offers Certificates of Deposit that meet individual investor’s needs depending on the coupon (zero or coupon bearing), maturity (1 month to 30 years), interest payments (monthly, semi-annually, or at maturity), and principal repayment (callable or non-callable).

Morgan Keegan Brokered CDs:

  • Are “book entry”, meaning no physical certificate is issued. Ownership of brokered CDs is reflected in your Morgan Keegan account.
  • Can be liquidated without a penalty subject to market conditions. The market value of the CD will fluctuate as interest rates change, and this could result in a gain or loss of principal in the event of the bonds being liquidated.
  • Have an estate feature. In the event of the owner’s death, the CD can be immediately redeemed at par value plus accrued interest by the issuer.