Legal & General is offering two six-year structured products, one of which features an early maturity option.
The Growth Investment Plan Plus, available until 3 March, offers capital protection plus 100% of any growth in the FTSE 100 at maturity on 8 March 2012.
If the index has grown by 15% or more by close of business on the product's third anniversary it will automatically mature, paying out the original investment in addition to 22% growth.
Otherwise, the investment will continue and, if the index has grown by 20% or more on its fourth anniversary, the early maturity payout will be 127%.
If the product continued and the index had grown by 25% or more on its fifth anniversary, the kickout payment will be 132%.
If the product continued to maturity and the index had fallen from its original value then investors would receive their original investment with no growth. The FTSE 100's final value will be calculated by taking the average level on a monthly basis between 8 March 2011 and 8 March 2012.
The Protected Capital Investment Plan, also available until 3 March, offers investors capital protection in addition to 22% growth or 50% of any growth in the FTSE 100, whichever is greater, at maturity on 8 March 2012. Averaging is used over 12 months of the product's life to come up with a final index level.
If the market falls over the term the return will be 122%, the equivalent of a compound interest rate of 3.3% net each year.
L&G sales director for protected capital products, Jamie Vale, said the plans offer competitive minimum returns relative to bank and building society deposit account rates likely to remain in line with Bank of England rates.
Both products require a minimum investment of £500 but, if held in a maxi Isa, a maximum of £7,000. While in mini stocks and shares the maximum is £4,000. Adviser commission of 3% is available.
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