Northern Rock is launching a combined fixed rate bond and equity-linked tracker product.
The Fifty: Fifty – Issue 3 product offers a guaranteed return of 7 per cent a year fixed for two years on half the balance.
The other half is placed in a five-year tracker, with no management fees or set up charges, returning 70 per cent of the rise in the FTSE 100. If there is no increase in the FTSE 100 the investor receives bak the original investment, retaining the fixed interest return. Minimum investment is £5,000.