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Newcastle bond combines fixed interest with equities

Newcastle Building Society is offering a guaranteed bond that combines investment in global blue-chip stocks and fixed interest.

Sixty-seven per cent of the guaranteed blue-chip bond is linked to the performance of 20 global blue-chip stocks over five years while the remainder is placed in a two-year account paying a fixed rate of 6 per cent gross.

Investors are guaranteed the full return of their initial capital.

The maximum return on the equity-based portion is 100 per cent of the growth of the basket of stocks, subject to a cap of 60 per cent of the growth of each individual stock.

The society says the stocks are all household names and provide a wide diversification across global markets and sectors.

Minimum investment in the bond is £1,000 with a maximum investment of £500,000.

Chief executive Robert Hollinshead says: “The bond caters for the investor who wants the performance of global blue-chip stocks but is cautious about investing directly because of the potential risk to their capital.”

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