Keydata Investment Services has launched a five-year, structured product linked to the performance o...
Keydata Investment Services has launched a five-year, structured product linked to the performance of the FTSE 100.
The Extra Income Plan offers annual income shares paying 7% gross per year, quarterly income shares paying 1.7% gross per quarter or growth shares paying 38% at maturity. It will mature on 19 November 2007.
Capital and income are 100% protected, provided the FTSE 100 never falls more than 40% below its starting value during the term of the investment.
Investors' capital will be reduced on a two-for-one basis if the index falls by more than 40% during the term and fails to recover to its starting value by the end of the period
Mark Owen, Keydata sales director, said: 'We're aiming at the lower-risk end of the market such as the traditional building society investor looking to enhance their return without going for too much of a risk.'
The product has been structured by Barclays Capital using a medium-term note and options on the FTSE 100, Owen said.
The offer is open to investors from 16 September and closes on 1 November for new Isa subscriptions and direct share investment and 22 November for Isa and Pep transfers. Minimum investment is £7,000 and distribution is solely through intermediaries.
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