Within its Step-Down Defensive Plan August 2012 investors can choose between an annual return of 9.5% or 7.5%. The returns are dependent on the performance of both the FTSE 100 and S&P 500 indices and capital is at risk.
The start date of the plan is 24 August and any payouts will be calculated on the measurement date of 24th/25th each August between 2014 to 2018. If the indices are below their opening level (also known as their ‘reference’ level) the plan will remain in force and the following year’s reference level will reduce by 5% for the final five years of its six-year-two-week term.
Meteor AM has also launched Dual and Triple Dual Index Kick-out Plans August 2012.
The Dual Index plan is based on the performance of the FTSE 100 and Euro Stoxx 50 indices, while the Triple Index includes the S&P 500 index. The former offers the potential for a gross annual growth payment of 12.25%, the latter 15.25%.
Both have a six year and two week term.
The counterparty for the Dual and Triple Index Plans is Barclays Bank, with Morgan Stanley counterparty to the Step-Down contract.
