The firm’s defined return plan annual kick out has matured after one year, returning 12 per cent to investors in addition to their original capital.
The five-year special maturity option is only available to investors in this product. It offers an annual fixed return of 8 per cent and will automatically mature on any anniversary where the FTSE 100 is at or above its starting level.
As with the previous product, investors’ capital is fully protected provided the index does not fall below 50 per cent of its starting level. In such an event, if the index has not recovered to its starting level at maturity, then investor’s capital is lost on a one for one basis with the change in the index level.
Manager Lisa Chaudhuri says: “The special maturity option is likely to appeal to roll over investors as they have had a good experience thus far and with this new edition maintaining a healthy premium over savings rates, the attractiveness to commit for up to a further five years is self evident.”