The FTSE Income Deposit Plan 4 is based on the FTSE 100 and offers a gross income of 8% annually, or 1.5% quarterly. Income is generated if the FTSE 100 closes within the ranges of 4250 and 7250 on each business day during a series of quarterly or annually observation dates, the first of which is 22 December, 2011.
If the index closes outside this range during any observation period then no income is paid.
The latest closing date for the plan, for direct bank transfer applications, is 20 December.
The company’s FTSE 5 Quarterly Defensive Plan is the latest version of its product based on the performance of five FTSE 100 shares – BHP Billiton, GlaxoSmithKline, HSBC, Shell and Tesco. The plan will mature and pay 3.9% gross per quarter if, on any measurement date (the first of which is 24 September, 2012) the closing price of all five is at least 85% of their opening level at the close of business on 22 December, 2011.
The final levels will be as at the end of play on 22 December, 2016.
