The FTSE Income Deposit Plan 2 has a six-year term and its returns are based on the performance of the FTSE 100. Investors have the choice of annual or monthly income that will be paid if the index closes between 4,501 and below 7,500 on each business day during the observation periods that start on 16 September, 2011.
If the index closes below 4,500 or above 7,500 on any business day during these periods no income payment will be made for that particular period.
The counterparty is Royal Bank of Scotland.
The closing date for the plan is 2 September, 2011, and the opening level of the plan will be as at the close of business on 16 September. The maturity date is 27 September, 2017.
