It has a six year and two week term and offers 45% growth linked to the FTSE100 Index.
The 45% will be paid out if the final level of the index is at or above its opening level as at the close of business on 30 September, with the closing date for applications 16 September, 2011.
The final level will be the average of the close of business of the index on each of 25 to 29 Sepetmber, 2017. The plan’s maturity date is 13 October that year.
“We believe this plan allows investors to protect their capital from uncertain market conditions, while hopefully achieving a rate of return which prevents inflation from eroding its value,”said managing director Graham Devile.
“Its return should look attractive incomparison with what might be gained by investing directly in the FTSE 100,especially since the markets are only required to be at their current levels at maturity to provide the full return of 45%.”
