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Abbey plan could pay out 20% after one year

Abbey is launching a new structured product series with a plan offering two investment options for private investors and trustees.

The one-year guaranteed options plan is open until March 17, 2005, unless fully subscribed earlier, with a minimum investment of 3,000.

One option provides potential for 20 per cent growth on the initial investment after one year. This return will be payable if the FTSE 100 index does not rise or fall by more than 10 per cent from its starting level at any stage during the one-year term. The year will run between March 31, 2005 and March 31, 2006.

The other option provides guaranteed growth of 4 per cent, equivalent to 6.66 per cent gross for higher-rate taxpayers. The final repayment on March 31, 2006 is fixed as 104 per cent of the original investment.

Abbey for Intermediaries director Ambrose McGinn says: “One option could offer a fantastic 20 per cent bonus after just one year and, whatever happens, the original capital is fully guaranteed.”

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