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Abbey offers early release bond

Abbey has established a second issue of the protected growth plan,
a guaranteed equity bond that will return investors&#39 original capital
regardless of the performance of the FTSE 100 index.

The bond has a term of five years and six months, but will mature in
the third year if the index has risen by at least 30 per cent on February
26, 2007. If it has not, the product will run full term.

To calculate the returns where the product runs full-term, the closing
level of the FTSE 100 index is recorded on February 25 2004 and this
is compared with an average produced between August 22, 2008
and August 21, 2009. Investors will get 100 per cent of this growth.

This product is structured on similar lines to the Premier growth plan
– limited editions no 14 in that it may mature earlier than the specified
term. However, investors who want full capital protection plus 100 per
cent growth do not have to go for an early release product just to
achieve this.

The premium protected growth plan from Woolwich Plan Managers
enables investors to fully protect their capital and receive 100 per cent
of any growth in the FTSE 100 index during a tern of five years and six
months. This is without the uncertainty of an early release date if the
index hits a specified target.

However, some investors may like the idea of an early release with
Abbey rather than tying their money up for the full term, particularly as
there are fewer three-year products around.


NDF Administration – Secure UK Options Plan

Type: Capital-protected bond Aim: Growth linked to investors&#39 choice of the FTSE 100 index and Halifax House Prices index Minimum-maximum investment: £10,000-no maximum, Isa £7,000 Return: Up to 100% growth in indices at end of term Guarantee: Original capital returned in full regardless of performance of indices Closing date: January 16, 2003 Commission: Initial 4% […]

Portman and Staffordshire complete merger

Portman Building Society has completed its merger with Staffordshire Building Society. The combined society will operate as Portman Building Society but the former Staffordshire branches and head office will operate under the name of The Staffordshire.

Ring of confidence

It&#39s one Bill to rule them all – The Diary is glad to see that TheMortgage Business is taking a topical approach to time-keeping. The firm (ingeniously, the Diary might add) persuaded its staff to dress up as characters from the movies for a 2004 calendar. The Diary&#39s favourite is Lord Of The Rings – […]

No reason to panic over Standard&#39s solvency says McPhail

It is premature to suggest there is a solvency problem at Standard Life despite several reports today according to Hargreaves Lansdown head of pensions research Tom McPhail. He says new solvency guidelines from the FSA are only now starting to be applied to the life insurance sector, and it is too early to tell how […]


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