Product Innovations is launching a structured product targeting high-net-worth investors in partnership with Abbey.
The six-year Opus Diversifier Capital Guaranteed Income and Growth Deposit targets dollar investors, offering 100% capital protection.
The investment is split 50% income and 50% growth, with the former offering annual income of US-dollar three-month Libor rates plus 0.60%, with the level reset on a quarterly basis.
The growth portion pays 85% of the average rise in an equally weighted basket of assets comprising the FTSE 100, Nymex Crude Oil Futures and USD/GBP exchange rate.
All income and growth returns will be paid gross and investors can have access to the income element at any time within the six years.
There are no upfront or annual charges, with 100% of the investment earning income and potential growth.
The capital protection is guaranteed in full by the balance sheet of Abbey National.
Applications close on 22 September 2005. The initial investment date is 29 September 2005. Funds deposited before 28 September will earn interest at the current Fed Funds rate of 3.25%.
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