Top of main content

Market-Linked GIC Investments

Benefit from the security of a Guaranteed Investment Certificate (GIC) along with the potential to earn a higher interest based on the performance of stocks or market indices with a Market-Linked GIC*.

Market-Linked GIC (MLGIC)*

  • Enjoy the peace of mind of worry-free investment – knowing your principal is protected at maturity
  • Gain the opportunity to earn a return linked to an equity investment without risking your original deposit

MLGIC is not a conventional fixed income investment and is not suitable for all types of investors. An investment in an MLGIC is subject to several risk factors. Please consult the relevant Information Statement2 before investing.


Is a Market-Linked GIC right for you?

  • Prefer principal investment guaranteed at maturity 
  • Want the growth potential to earn higher interest based on the performance of the selected market 
  • Willing to lock-in the investment for the selected term

Benefit from the market’s upside without risking your original investment with Market-Linked GIC.

New Issues will be announced upon release and will only be available for purchase during each sales period.

There are no new MLGICs planned for sale after November 8, 2023, at this time.  When a new MLGIC is ready for sale, it will be announced in the Sales Period table.

Features and benefits


Your principal is fully protected at maturity and eligible for CDIC coverage1

An opportunity to beat inflation

MLGIC offers the potential for higher returns than a traditional GIC which may help you stay ahead of inflation

Higher interest potential than a traditional GIC

The interest rate is linked to the performance of the selected underlying market or sector so you can benefit from market opportunities

Important things to know

Distributed by


Account Type

Access to funds Available Terms



HSBC Investment Funds (Canada) Inc. (“HIFC”)

National Bank of Canada


May be sold prior to maturity* 3 and 5 years You can’t auto-renew your MLGIC when it matures, but you can invest in a new one. Please speak with us for available choices.

To learn more about MLGICs distributed by HIFC, please review the Client Summary and Information Statement2

Distributed by

HSBC Investment Funds (Canada) Inc. (“HIFC”)

Issuer National Bank of Canada

Account Type


Access to funds May be sold prior to maturity*
Available Terms 3 and 5 years


You can’t auto-renew your MLGIC when it matures, but you can invest in a new one. Please speak with us for available choices.

To learn more about MLGICs distributed by HIFC, please review the Client Summary and Information Statement2

*Some Market-Linked GICs can be sold prior to maturity at its market value. Exercising this option may impact performance and incur an Early Trading Charge, which could result in you receiving less than your original investment. Please speak with your mutual fund representative before exercising this option. Cashing the MLGIC prior to maturity should be reserved for unexpected events. 

How to invest during an offer period (subject to availability – refer to Sales Periods table for details)

New to investing at HSBC?

Meet with a mutual fund representative to discuss your needs and investment options

Or call 1-888-310-4722

Already have an HSBC Investment Funds account?

Or call 1-800-830-8888 to speak with our mutual fund representatives.

Frequently Asked Questions

General Questions




Published by HSBC Investment Funds (Canada) Inc. (“HIFC”)

* HIFC is a direct subsidiary of HSBC Global Asset Management (Canada) Limited (“AMCA”) and an indirect subsidiary of HSBC Bank Canada and provides its services in all provinces of Canada except Prince Edward Island. AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada.

Market-Linked GIC (MLGIC) is distributed through HSBC Investment Funds (Canada) Inc. but is issued by a third party.  MLGIC is available for specific HSBC Investment Fund (Canada) Inc. account types:  non-registered accounts, Locked-In Retirement Account (LIRA), Registered Retirement Saving Plan (RRSP), Registered Retirement Income Fund (RRIF), Life Income Fund (LIF), Registered Education Savings Plan (RESP) and Tax-Free Savings Account (TFSA).

The MLGIC details:

  • 3-year and 5-year MLGIC non-redeemable unless otherwise indicated
  • Variable interest payment is subject to positive performance of the underlying market or sector. The “starting point” (or initial value) to calculate performance may change with each issue. The performance on a MLGIC is also dependent on any participation rate, interest rate cap or guaranteed minimum interest rate, or a combination of these2.
  • Variable interest (if earned) is not compounded and is paid on the maturity date according to the terms in the relevant Information Statement.  If there is a minimum interest rate it will be accrued annually for non-registered accounts and issued a T5 slip on every anniversary date.
  • Unless otherwise indicated, MLGICs can not be redeemed prior to the maturity date, except in the case of death. For more information regarding redeeming at the death of the MLGIC holder, please refer to the Information Statement for the relevant MLGIC.
  • Please review the Market-Linked GIC Client Summary and Information Statement2 for complete details


1 Canadian Deposit Insurance Corporation

Third party Market-Linked GIC distributed by HIFC may be eligible, up to a certain dollar amount, for insurance under the Canada Deposit Insurance Corporation Act (CDIC) with the issuing bank. Learn more about CDIC and how CDIC Deposit Insurance works:

2 Please visit MLGIC Distributed by HIFC for performance and fee information and review the corresponding MLGIC Client Summary and Information Statement for complete details. Past performance of the underlying market is not indicative of future returns.

All products and services of HIFC are only available for sale to residents of Canada unless the laws of a foreign jurisdiction permit sales to its residents. Please contact our mutual fund representatives for more details. The contents of this site should not be considered an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.

The content on this page is provided for informational purposes only. It is not intended to provide legal, accounting, tax investment, financial or other advice and such information should not be relied upon for such purpose. Please consult your tax advisor to find out which strategies suit your tax situation. HSBC makes no guarantee, representation, or warranty and accepts no responsibility or liability as to the tax treatment of these accounts or contributions to these accounts.

This site may provide external links that give you access to HSBC websites located in Canada and other countries. If you enter a website outside of Canada, you are advised that it may not be legal in that jurisdiction for you to use the facilities available on that website and the legal requirements of that jurisdiction may prohibit you from dealing in that jurisdiction. If you access a jurisdiction in which you are not resident, you do so at your own risk, and HSBC Group will not be liable for any breach of local law or regulation that you may commit because of using and accessing a website in a country in which you are not resident.

Listening to what you have to say about services matters to us. It's easy to share your ideas, stay informed and join the conversation.