Precipice bonds reach the edge - papers 29 April

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AROUND 2,500 complaints have been received by the Financial Ombudsman Service in relation to precipi...

AROUND 2,500 complaints have been received by the Financial Ombudsman Service in relation to precipice bonds that are nearing maturity, The Daily Telegraph reports. Some of the biggest bonds are due to mature next month and will bring millions of pounds in losses to their owners unless stock markets rally sharply - in some cases by 100%. Precipice bonds have overtaken split capital investment trusts as the second biggest source of complaints to the FOS after endowments, The Telegraph adds. AN INTEREST RATE cut looks more likely by the next meeting of the Monetary Poli...

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