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Protected bond pledges 22% return

Skipton Building Society is launching a five-year guaranteed growth bond which offers the potential for 50 per cent growth with no risk to capital.

The bond tracks the FTSE 100, S&P 500 and the Eurostoxx 50 indices over a five-year period.

It guarantees minimum growth of at least 22 per cent of the initial investment over the five years regardless of the performance of the indices.

However, investors will receive a guaranteed return of 8 per cent for each year that all three indices have increased on the previous year. They also receive a 10 per cent bonus in the final year if all three increase in every one of the five years. If all three indices increase year on year up to maturity, the maximum growth is 50 per cent, including the 10 per cent bonus.

The minimum investment is £2,000, with a maximum of £50,000. There are no management fees or dealing costs. The bond is open to investments until December 14 and indices will be tracked from January 4, 2002.

Head of corporate communications Mark Smitheringale says: “With a maximum growth potential of up to 50 per cent, this is a great opportunity to achieve the type of return usually only associated with a stockmarket investment. This bond also offers full protection of the initial capital and an absolute guaranteed growth of 22 per cent.”


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