Abbey National Treasury Services and New Direction Finance Administration will launch a second tranc...
Abbey National Treasury Services and New Direction Finance Administration will launch a second tranche of their guaranteed Dublin-based stock market bond in February with a headline yield of 9.25%pa over three years, writes Jane Wallace.
The Extra Income & Growth Plan II also has a growth option of 30% on maturity. Commission for IFAs is 3%. The offer period lasts until 10 March 2000. The plan is Isable.
Returns on the product are guaranteed but return of the original capital is not, that depends on the performance of the Eurostoxx 50. If the level of the index does not fall from its starting point during the life of the product or finishes above its start level, investors will receive all their returns and their original capital.
If the index has fallen by up to 25%, investors will still receive their returns but capital will be eroded on a one-for-one basis with the percentage loss in the index. Capital is reduced on a two-for-one basis after the first 25% loss if the index falls further than 25%.
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Willis Owen report
From 1 March