Norwich Union has launched a second tranche of its Prosper Income Bond, which pays an annual net fix...
Norwich Union has launched a second tranche of its Prosper Income Bond, which pays an annual net fixed income of 6.25% for its four-year term.
Prosper Income is a single premium investment bond with a minimum investment of £5,000 but no maximum level.
Performance of the bond is linked to the DJ Euro Stoxx 50 Index. Capital invested is protected provided the index does not fall by more than 30 % from its starting level at any time during the last three years of the four-year investment period. If this happens, capital will be reduced on a one-for-one basis.
The closing date for investment is 27 December 2002, with the four-year term starting on 6 January 2003.
Early investors will get an extra bonus of 0.35% if they invest before 9 December 2002. This reduces to 0.15% thereafter.
Neil Davies, head of investments at Norwich Union, said: 'As well as a very competitive level of income, we have built in a degree of capital protection that gives customers a good level of reassurance.
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