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VARIABLE DENOMINATION FLOATING RATE DEMAND NOTES 1.50-1.75%

Jack11
  |     |   272 posts since 2019

I don't really keep up with demand notes but I happen to own shares in D and saw this SEC filing this afternoon. Id trust them about 100 times more than a fintech.

DOMINION ENERGY, INC.

DOMINION ENERGY RELIABILITY INVESTMENT(SM)

VARIABLE DENOMINATION FLOATING RATE DEMAND NOTES

PRICING SUPPLEMENT

(To Prospectus dated October 30, 2020)

The Date of this Pricing Supplement is October 30, 2020

The Dominion Energy Reliability Investment Variable Denomination Floating Rate Demand Notes (the “Notes”) bear interest at a floating rate per annum determined by the Dominion Energy Reliability Investment Committee on a weekly basis to be effective on Monday of the week following such determination. Under the terms of the Dominion Energy Reliability Investment program, the interest rate payable on the Notes may vary based on the principal amount of the Notes that an investor owns.

The current Prospectus for the Notes was filed with the Securities and Exchange Commission on October 30, 2020. The interest rate established for the Notes as of October 30, 2020 and set forth below remains in effect until further notice.

Amount of Notes

Interest Rate Per Annum

Under $10,000

1.50%

$10,000 to $49,999

1.60%

$50,000 and above

1.75%

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15


deplorable_1
  |     |   248 posts since 2020
This account looks interesting to me. After reading the prospectus it looks almost identical to Ally demand notes except that it is paying much better rates. I need to call and find out if 3rd party ACH pulls to pay credit card bills would be allowed if so this could act as a nice quasi-checking account.
GM right notes is also paying 1.75% but no 3rd party ACH pulls are allowed.
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11
Jack11
  |     |   272 posts since 2019
Out of curiosity more than anything, I called over there today. Said we could set up ACH payments to credit cards as long as we do it from the credit card side. There is no maximum of 6 per month either. I think he said it works like a bank account ACH wise. My 1% savings account at a local credit union has a silly limit of 3 ACHs out per month. $1.50 for each additional. So If I had 3 credit card payments in a month I would not be able to transfer money to my broker or whatever without a fee. The last time rates were low I opened a 2nd savings account to give me more ACHs. But I later closed the 2nd one because they were not competitive when rates were higher. So I rarely used the account.

I'm wondering if I should have done this instead of my last several low rate CDs?

Right now, I do not have enough spare cash to bother with opening one. My next maturity is Jan 21 so I will revisit it in a few months if their rate is still high comparatively.

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We do not charge any fees for writing checks for $250 or more. There are also no administrative or maintenance fees, and your checkbooks are free. Fees do apply if you overdraft your investment. See the prospectus for more details on fees.
https://investors.dominionenergy.com/fixed-income/dominion-energy-reliability-investment/enrollment-faq/default.aspx
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11
Jack11
  |     |   272 posts since 2019
Lowered by .25% today.

DOMINION ENERGY, INC.

DOMINION ENERGY RELIABILITY INVESTMENT(SM)

VARIABLE DENOMINATION FLOATING RATE DEMAND NOTES

PRICING SUPPLEMENT

(To Prospectus dated October 30, 2020)

The Date of this Pricing Supplement is December 1, 2020

The Dominion Energy Reliability Investment Variable Denomination Floating Rate Demand Notes (the “Notes”) bear interest at a floating rate per annum determined by the Dominion Energy Reliability Investment Committee on a weekly basis to be effective on Monday of the week following such determination. Under the terms of the Dominion Energy Reliability Investment program, the interest rate payable on the Notes may vary based on the principal amount of the Notes that an investor owns.

The current Prospectus for the Notes was filed with the Securities and Exchange Commission on October 30, 2020. The interest rate established for the Notes as of December 1, 2020 and set forth below remains in effect until further notice.




Amount of Notes
Interest Rate
Per Annum
Under $10,000
1.25 %
$10,000 to $49,999
1.35 %
$50,000 and above
1.50 %
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4
deplorable_1
  |     |   248 posts since 2020
I just wanted to thank you Jack11 for posting this. Ally Demand Notes ended their program and I wasn't sure where to go next. It works exactly like the other demand note programs I have used in the past and their rate has remained very good. Third party ACH bill pay works like a charm. The only issue I have had is that some banks(like Redneck/AllAmerica) don't seem to link using their system.
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1


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