All products have a start date in March, with applications commencing at the beginning of the month.
One of the annual kick-out products will be indexed against the FTSE 100, one against FTSE 100 and S&P 500, and the third against the FTSE 100 and EURO STOXX 50. They will make a gross income payment of 6.1%, 7.1% and 8.1% respectively if the close of business level of the index is at least 60% of its opening level on any annual measurement date.
Early kick-out may apply in years three, four or five if the close of business level of the index is at least equal to its opening level on the relevant annual measurement date. Securities are issued by Royal Bank of Scotland (RBS).
Growth of FTSE 5 Range
The new FTSE 5 fixed income product, the second in the range, will be linked to the five leading sector shares in the FTSE 100: Rio Tinto (mining), Marks and Spencer (retail), Lloyds (finance), International Consolidated Airlines (travel and leisure) and United Utilities (utilities).It will attract a fixed return of 2.1% per quarter, subject to counterparty risk.
The product is targeted at investors with a greater appetite for risk that are seeking a higher level of return than is available elsewhere. There is a 50% capital prevention barrier against the worst performing share.
The FTSE 5 Enhanced Quarterly Defensive, meanwhile, will make a growth payment of 4% of the money invested each quarter if at close of business on any measurement date each share is at or above 85% of its opening level.
If the product runs for the full six-year term, a growth payment of 96% will be made, provided the worst performing share is at 50% of its opening level.
Securities for both products will be issued by Morgan Stanley.
