The Early Bonus Plan 5, the fifth in a series of kick-out plans, opened on 27 February and will close on 20 April.
It offers a bonus of 63% at the end of the fixed six-year term, with the kick-out feature being triggered if the FTSE 100 index is equal to or higher than its initial level on any of the plan anniversaries. The payment will be a set bonus of 10.5% in year one, 21% in year two, 31.5% in year three and so on.
There is the potential for some of the original investment to be lost if the FTSE 100 falls by 50% or more from its starting point, its strike date, at the end of its six-year term.
The strike date is 9 May, 2012, with maturity on 9 May, 2018.
Legal & General’s head of commercial implementation, platforms & distribution, James Harrington said: “Our Early Bonus series offers investors the potential for their investment to outstrip inflation plus the flexibility to access their capital if stock market growth picks up strongly. There are five anniversaries for the kick-out feature to be activated, triggering a payment and returning the original investment.”
Commission is 3% of the sum invested.
