Capital One 5Yr @ 5.00% New Issue, Non-Callable Brokered CD Available As Of 11-3-2022

RichardW
  |     |   821 posts since 2019

Here are the rates of the Capital One Bank new issue, non-callable brokered CDs offered as of 11-3-2022 at Fidelity and Vanguard: 5yr @ 5.00%, 4yr @ 4.95%, 3yr @ 4.90%, and 2yr @ 4.85%.




sams1985
  |     |   781 posts since 2022
called it, but i'm not biting just yet.
rockies
  |     |   295 posts since 2018
Big Milestone!!
sams1985
  |     |   781 posts since 2022
They are selling out very quickly - be patient!!

Edit: sold out on Fidelity at 12:45pm. Dont worry if you missed this, many more will be released tomorrow and early next week.

I still think we will reach mid 5's-6.
rockies
  |     |   295 posts since 2018
Looks like Capital One added more 5.0%, 5yr certificates. 6,649 available as of 1:35pm, eastern, 11/3
Also, 12,098 of the 4.95%, 4 yr certificates
Listedguru
  |     |   63 posts since 2022
I've never bought a brokered cd before so pardon my ignorance: What does 6,649 available mean? How much does (1) of these 5% 5 year cd's cost?
rockies
  |     |   295 posts since 2018
Each brokered CD is $1,000. And, I should have mentioned these quantities were available at Fidelity. More may be available at Vanguard, Schwab, etc.
Listedguru
  |     |   63 posts since 2022
I am looking at buying some with my Fidelity acct (at some point). It would be through an IRA @Fido. So I assume these brokered CD's would just pay interest back into my IRA account correct? Do you know if there is commission charged for buying these @Fido? Sorry for all the questions. I've bought direct cd's before but never brokered. I'm hoping we'll see 5% direct CD's sometime soon:)
RichardW
  |     |   821 posts since 2019
Listedguru…before you buy some brokered CDs, I recommend that you read about the differences between brokered CDs and direct bank CDs. Here are two articles which you may find helpful:
https://www.bankrate.com/banking/cds/what-are-brokered-cds/
and
https://www.depositaccounts.com/blog/notes-personal-ira-cd-investing-longtime-reader-2.html
(Thanks rockies for answering Listedguru’s specific questions!)
rockies
  |     |   295 posts since 2018
Brokered CD's may be acquired in an IRA. Fidelity does not charge a commission on new issue brokered CD's. Interest is paid into your IRA cash/sweep account.
RichardW
  |     |   821 posts since 2019
At 3PM EDT 11-3-2022, Barclays Bank's rates now exceed Capital One’s rates on 3yr @ 4.95% and 2yr @ 4.90% new issue, non-callable brokered CDs offered at Fidelity. Good to see the competition.
GH1
  |     |   1,058 posts since 2017
5 Year callable at 5.15 Percent Morgan Stanley 11/2/2022

Morgan Stanley Private Bk Natl
Callable 11/23@100 | Callable | Death Put | | MS | Semi-Annual Pay
GH1
  |     |   1,058 posts since 2017
3 Year Callable at 5.10 Percent Ally 11/3/2022

Ally Bk Sandy Utah
Callable 05/23@100 | Callable | Death Put | | GMATBK | Semi-Annual Pay
GH1
  |     |   1,058 posts since 2017
2 Year Callable at 5 percent JP Morgan Chase 11/3

Jp Morgan Chase Bank Na
Callable 02/23@100 | Callable | Death Put | | JPM | Semi-Annual Pay
RichardW
  |     |   821 posts since 2019
At 4:30 PM EDT 11-4-2022, Discover Bank matches Capital One Bank with these new issue, non-callable brokered CDs offered at Fidelity and Vanguard: 5yr @ 5.00%, 4yr @ 4.95%. In addition, Discover Bank matches Barclays Bank with these new issue, non-callable brokered CDs offered at Fidelity and Vanguard: 3yr @ 4.95%, and 2yr @ 4.90%.
Kirkland
  |     |   377 posts since 2014
question: Many of the brokered CD's are listed as settlement date 10 or 12 days later. So if you want to buy now to be sure to reserve it as available for settlement date that far away, the brokerage firm takes your money out now, and you lose interest on that amount until settlement date?
RichardW
  |     |   821 posts since 2019
In my Fidelity brokerage account, the funds at deducted from my settlement account on the settlement date, not before.
GH1
  |     |   1,058 posts since 2017
As Richard said . Your money stays in the account until the purchase date. So your money will still earn a small rate in the holding account untill purchase date. If you find a better deal just cancel your order and put in new order for higher rate. That can happen if your purchasing 10 days out
GH1
  |     |   1,058 posts since 2017
The other thing you find is each brokerage has different rates even sometimes same bank. I find E-Trade seems to be the highest rate most of the time. But fidelity and Schwab both are great places to buy brokered cds. Fidelity has a easy to use system also
RichardW
  |     |   821 posts since 2019
Here are some third-party price estimates provided today by Fidelity regarding some of those 5yr, 5%, new issue, non-callable brokered CDs which were available a couple of weeks ago: Capital One (CUSIP: 14042RVL2) 100.649, Discover (CUSIP: 254673Z74) 100.656, and American Express (CUSIP: 02589AEG3) 100.657. Obviously when they were new issue they each sold at par (100.00). The Capital One and Discover CD versions are currently available in the secondary market at Fidelity.


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