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NS&I offers bond as it looks to FTSE recovery

National Savings & Investments is looking to capitalise on indications that the FTSE 100 could be on the path to recovery with the launch of a new series of guaranteed equity bonds.

The move comes as economist Lombard Street Research director Stewart Robinson predicts the index will enjoy reasonable growth over the medium term after hitting its lowest level for six years.

On the back of these expectations, NS&I is releasing a five-year, capitalsecured bond on sale between October 17 and November 28.

Offering a potentially attractive return, the stockmarket-linked bond guarantees investors will rec eive a minimum of their initial stake back on maturity. The Treasury-backed pro-vider says interest in the product is high, with over 7,000 enquires already received.

The bond offers investors all the growth in the FTSE 100 over the five-year term of the bond subject to a maximum return of 65 per cent growth.

It is available for individuals or trustees, including those acting on behalf of children, to invest between £2,000 and £1m on a limited basis. During the six-week offer period, investors will earn interest of 3.15 per cent gross paid at maturity. The investment period starts on November 29.

NS&I is aiming to capture more business through IFAs with the appointment of a intermediary account manager.

Commercial director Gill Cattanach says: “Customers can invest in our guaranteed equity bond certain in the knowledge that their investment can go up but cannot go down. National Savings & Investments&#39 guaranteed equity bond provides this 100 per cent security because it is backed by HM Treasury.”

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