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Pinnacle investment bond tracks Nasdaq

Pinnacle Insurance is setting up a new investment bond linked to the performance of the Nasdaq stockmarket index.

Protected bonus bond plus is for cautious inv es tors who want an investment linked to the performance of dynamic companies with a high minimum return.

The bond is designed to return a minimum of 120 per cent of the initial investment after a five years. It is available until December 4.

The maximum potential return is 190 per cent of the initial investment. This is calculated by accumulating the growth achieved by the Nasdaq over the five years. Ann ual growth is capped at 18 per cent but there is no limit to potential losses if the index falls.

Commission is 3 per cent. Minimum investment is £7,500 and maximum £250,000.

General manager (investment sales) Clive Moore says: “This bond is designed for people to get some exposure to the growth in new economy stocks without the high cost usually associated with protected investments.

“Twenty per cent net of basic-rate tax over five years is a pretty good return in its own right and when this is coupled with the upside potential of the Nasdaq, we have a great customer proposition.”

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