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ScotLife Intl to reissue 10.3% bond

Scottish Life International is rolling out a third issue of its income & growth bonus bond offering investors the choice of capital growth or income.

The bond offers annual income of up to 10.3 per cent gross or 2.25 per cent gross quarterly. The growth option pays 33.25 per cent gross after three years.

The bond is linked to three major stockmarket indices – the FTSE 100 in the UK, the S&P 500 in the US and the EuroStoxx 50 in Europe.

A capital protection feature means a full return of capital is guaranteed even if these indices fall by up to 30 per cent.

The first and second series of the income & growth bonus bond attracted combined sales of £113m in two six-week periods in the first quarter of the year.

The new product will also be available for six weeks starting at the end of October.

Minimum investment is £10,000 and there is no maximum. There are no initial charges, policy fees or annual management charges. Commission is 3.25 per cent.

Marketing director John Allison says: “As investors continue to receive poor deposit returns on their savings from the high street, we believe the successes of both series one and two demonstrate the popularity of this type of product as a vital alternative.”

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