The plan was due to close on 26 August but has been extended to 2 September following the past period of equity market volatility.
Investec said the product offered investors the opportunity to take advantage of potentially favourable market conditions.
The product provided advisers with the option to diversify client investments across five UK financial providers – HSBC Bank plc, Nationwide Building Society, Santander UK plc, The Royal Bank of Scotland plc and Lloyds TSB Bank plc.
Investec said this “UK 5” option had the potential for early maturity at the end of each of the first four years with a payment equal to an uncompounded 9.5% per annum. If the plan did not mature early and ran the full 5 years, the return would be 120% of any FTSE 100 growth.
Similarly, the Investec option had the potential for early maturity at the end of each of the first four years with a payment equal to an uncompounded 10.5% per annum. If the plan did not mature early and ran the full 5 years, the return would be 120% of any FTSE 100 growth.
“Current market volatility has obviously created some nervousness for equity investors, not least those investing in structured investments,” said head of intermediary sales Gary Dale. “By extending our offer period, investors are able to buy into a kick-out plan that is only a week or so from strike, allowing them and their advisers to take a more informed view on where the FTSE 100 may start at with potentially more optimal index levels.”
