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Barclays Wealth launches Fixed Rate Bond

Barclays Wealth has launched a five-year Fixed Rate Bond, a structured product which offers an annual income of 4% gross or a payment of 22% at maturity.

The income does not depend on the performance of an index or asset, the group said, and capital is fully protected, although there is no third-party guarantee.

However, investors selling the bond before maturity may receive less than their original investment.

The offer is open until June 2, with the bond maturing on 12 June, 2014.

Minimum investment is £10,000. Interest is taxed as income at the investor’s highest personal rate.

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