Bond linked to Euro Stoxx from Norwich

Norwich Union has entered the structured bond market with the launch of a protected product named Prosper. The bond opens on 30 September and guarantees annual income of 6% net for basic rate taxpayers. A monthly income option paying 0.4% net and a growth option paying out 25.5% net at maturity are also available. Commission is set at 3.5% and the bond carries an initial charge of 5.5%. Minimum investment is £5,000 and there is no maximum. The bond is linked to the performance of the Dow Jones Euro Stoxx 50 and guarantees 100% capital return, provided the index does not fall by more ...