The capital-at-risk, six year product has a kick out from the second year, which increases from 16% to a maximum 48% at the end of the investment period. The bonus is payable if the FTSE 100 is equal to or higher than the initial level of the index on the anniversary date.
Investors choosing the second investment option will be entitled to a bonus from the second anniversary of the product provided the index has not fallen by more than 10% from the starting level. The bonus range increases from 12% in year two to 36% in year six.
Investors will lose some or all of their money if the FTSE 100 has fallen by more than 50% at maturity.
David Beard, L&G business development manager, said: “The Early Bonus Plan dual option autocall product has proved popular with clients. Offering a choice of a more defensive option does appear to have widened the appeal of this capital at risk product for clients investing new money or funds from existing investments.”
Last month L&G unveiled a joint structured product with Barclays, the first in a series of collaborative products for the two companies.
