Scottish Wids plan breaches 20% barrier

The Scottish Widows Income & Growth Plan 1 has breached its downside protection barriers and investors are expected to suffer a reduction in capital when the product matures next year. The plan proposed to repay 100% of capital unless the value of any of the 30 stocks chosen by Scottish Widows fell by more than 20% from their starting point during the investment term and failed to recover to that level before maturity. Unless the stocks rise dramatically ahead of the maturity date of 13 February 2004, capital will be reduced on a one-for-one basis in line with the value of each stock that...