Barclays is launching a guaranteed bond offering an 8% return in its first year. Minimum investmen...
Barclays is launching a guaranteed bond offering an 8% return in its first year.
Minimum investment is £5,000 and this is split equally with half going into a fixed rate cash bond, providing the guaranteed return over 12 months. This then matures and investors will be reinvested in an equivalent 12 month product unless they decide to take the cash.
The other half of the original investment is put into a structured product linked to the performance of the FTSE 100 over three years. Customers are guaranteed the return of their original investment into this element of the product, along with 50% of any growth in the index. The growth is subject to averaging in the final 12 months of the product's life.
The Barclays Guaranteed Equity Savings Bond is available via the group's branch network between 7 May and 21 June. The product's start date is 1 July and funds invested in it prior to this date will earn interest of 3.5%pa gross, calculated on a daily basis.
An emergency cash withdrawal facility has been added to the cash element of the bond. Withdrawals, which must be a minimum of £1,000, will be subject to 60 days loss of interest.
For more information contact the nearest Barclays branch.
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