NATIONAL BANK ISSUES MORTGAGE-BACKED SECURITIES
<National Bank of Canada> said it is
issuing 25 mln dlrs worth of mortgage-backed securities
recognized by the federal government's Canada Mortgage and
Housing Corp.
    The bank said the issue is divided into two pools--one
bearing annual interest of 8-3/4 pct and the other 8-5/8 pct,
with interest calculated semi-annually and paid monthly.
    It said the securities are available in denominations of
5,000 dlrs for a term of slightly less than five years.
    Underwriters are (Levesque, Beaubien Inc), and (McLeod
Young Weir Ltd).
    National Bank said the issue is part of a program by Canada
Mortgage and Housing, introduced late last year, which provides
investors with high quality securities similar to government
bonds but with a higher rate of return.
 Reuter
