Pinnacle bond will provide 8% income

Pinnacle Insurance, a subsidiary of Paribas, plans to launch a guaranteed stock market bond with a headline income above 8% in late September. The life of the bond will be four years and it will link to a UK stock market index. Commission for IFAs will be 3%. Clive Moore, general manager, investment sales at Pinnacle, said: 'The details are not finalised but we will be sticking to a four-year term and the UK and not using any European indices. It will be similar in structure to the last bond we did it won't require growth in the index to provide returns. The income will not be close to 9...