meteor launches ftse sp backed plans

Meteor Asset Management has launched two new FTSE 100 and S&P 500-backed income products for UK investors.

meteor launches ftse sp backed plans


The Dual Index Fixed Income Plan September 2012 – issued by Barclays Bank – offers investors the choice of either a 6.4% gross annual income or a monthly gross payment of 0.52% if taken monthly.

If one or other of the indices falls by more than 50% from its opening level at the close of any business day during the six-year-and-two-week term then an investor’s money is at risk.

The plan is available until 26 September with its opening level set two days later; its maturity date is 12 October, 2018.

At the same time, investors can take advantage of the firm’s Defensive Dual Index Kick-Out Plan October 2012 that has the same term and revolves around the same indices as its fixed income product.

The kick-out is triggered if, on any measurement date – the first of which is 13 October, 2014 – the indices close at or above their respective reference levels. If the plan does mature early, investors will receive a gross payment of 7.5% of the money invested for each year it has been in force as well as their initial sum invested.

Money is at risk if either of the indices falls by 40% from its opening level – 12 October this year.

Again, Barclays Bank is the plan’s issuer.

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