The six year FTSE Accumulation Deposit Plan is based on the performance of the FTSE 100 and interest payments are dependent on the index closing within the range 4,500 and 7,250 at the close of each business day during an observation period.
RBS is the counterparty for the plan and capital will be returned in full at maturity as long as RBS can fulfil payments. If it cannot, Meteor understands investors might have recourse to the Financial Services Compensation Scheme.
The minimum investment outside an ISA is 10,000 and interest will be paid quarterly or annually, dependent on the option chosen at the start of the term.
Graham Devile, MD at Meteor, said: "The FTSE Accumulation Deposit Plan offers investors the opportunity to combine the protection afforded by a deposit, with the potential to accrue a higher rate of interest than many traditional deposit accounts. The broad range in which interest can be accumulated should appeal to those who remain uncertain of the direction of the market."
The ultimate closing date for the plan in 25 April 2012.
