The product is held over a fixed six year term and has full capital protection.
The Cater Allen Annual Locked In Return Plan offers a return of the original investment plus up to six annual locked in returns – each equivalent to 6.5% gross of the original investment for each year the FTSE 100 is above the initial index level.
Over the six years the product could return 39% on top of the original investment – the equivalent to 5.26% AER.
The lock in feature means any cumulative returns will be paid out at maturity, avoiding any potential gains being wiped out by a drop at the end.
Santander is the guarantor behind the product and the product’s commencement date is 18 May. The deadline for investment in the Annual Locked In Return Plan 5 is 19 April.
