The plan has a six-year term and income will be paid if the FTSE 100 index closes within the range of 4,500 to 7,250 at the close of each business day during the observation period.
If the index closes outside this range on any business day during an observation period, which are annual or quarterly, no income payment will be paid for that particular period.
Capital is protected and will be returned in full at maturity subject to counterparty risk, which is dependent on the ability of RBS to make payments.
The minimum investment is £10,000 for non-ISA investments and investors can invest in one or both of the quarterly and annual income options.
Graham Devile, managing director at Meteor, said: "The Income Deposit Plan 7 offers investors the opportunity to benefit from the capital protection afforded by a deposit in addition to a potentially higher rate of income, making it an attractive option for those seeking to move away from traditional deposits. The plan provides essential flexibility to a portfolio in fluctuating market conditions."
The ultimate closing date for subscription to the plan is 25 April 2012 and the opening level for it will be the close of business level of the FTSE 100 on 27 April.
