The product is based on the performance of 10 leading shares in the FTSE 100 and has a six-year term.
The companies are: AstraZeneca, BG Group, BHP Billiton, BP, British American Tobacco, GlaxoSmithKline, HSBC, Rio Tinto, Royal Dutch Shell (Class A Shares) and Vodafone.
If on any annual measurement date the closing share prices of at least eight of the 10 shares are equal to or greater than their respective opening levels the plan will kick-out and pay 15% of the money invested for each year the plan has been in force.
Investors’ capital is not protected, however, and if no growth payment is triggered on any of the annual measurement dates then the capital return will be based on the performance of the FTSE 100 index.
Investors would lose some or all of their money if the final level of the index is more than 50% lower than the opening level, as in this case the capital will be reduced by the same percentage the index has fallen.
Minimum investment into the plan is £10,000 and the counterparty for the product is BNP Paribas.
Graham Devile managing director of Meteor Asset Management, said: "We believe in the current environment investors are continuing to seek ways to mitigate investment risk while balancing this with attractive returns. For those investors seeking equity exposure, the plan provides access to the higher volatility levels of shares while combining it with a significant level of capital protection."
