GE Life is to launch the High Income and Growth Plan III, which is Isable and available as a Pep tra...
GE Life is to launch the High Income and Growth Plan III, which is Isable and available as a Pep transfer, writes Fiona Henderson.
The product is available now and the issue will close on 12 January. The plan will purchase shares in an investment company that 0invests in equity-linked deposits issued by Abbey National Treasury Services.
The aim is for the equity-linked deposits to generate income, allowing the investment company to pay 9% income per annum, or 30% growth at the end of the product's three-year life.
Unless the FTSE 100 Index falls further than 20% from the start date, the full original investment will be returned at the end of the term, which is the 31 May 2004.
Scottish Widows Investment Partnership has raised £345m from the two subscriptions for its Dublin Isa product, the Extra Growth & Income plan. The plan, which invested in 30 shares in the FTSE 100, was launched in October and a second offer was issued for two weeks during December.
New Direction Finance Administration (NDF) launched its guaranteed Extra Income & Growth Plan 5 late last year with returns depending on the performance of the Eurostoxx 50.
The plan is not yet fully subscribed. Subscriptions close on 31 January.
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