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Meteor launches latest kickout plan

Meteor Asset Management has launched another tranche of its prima growth plan.

The six year prima growth plan 15 offers 11.25 per cent at the first annual anniversary as long as the FTSE 100 is at or above its opening level.

If the index falls below its initial level the plan runs into year two and if it is at or above its opening level on the second anniversary it will pay 22.5 per cent.

The capital is at risk if the index falls below 50 per cent of its opening level during the term and the final level is below its opening level at maturity. In such an event capital loss will be 1 per cent for every 1 per cent fall in the index.

Minimum investment is £10,000 other than for ISAs where the minimum is £7,200.

Securities on the plan will be issued by Rabobank, rated AAA by Standard and Poor’s.

The closing date for the plan is May 26, other than for ISA transfers which close on May 15.

IFA commission is 3 per cent.

Meteor managing director Graham Devile says: “The prima kick-out range is currently proving particularly popular as it offers the potential for good returns and greater flexibility, due to the possibility of the capital not being tied up for the full term.”


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