Barclays Wealth is closing its Defined Returns Plan two weeks early but issuing a replacement series following investor demand.
DRP Capital Protected will close to new business at 5pm 19 January.
Barclays Wealth is bringing forward the edition scheduled to start next month to be available from 20 January until 27 February 2009 to ensure a smooth transition.
The new DRP CP offers three investment periods delivering potential returns of: 12% for the three year option, 22% for the four year option and 32% for the five year option.
All three investments offer capital protection when held for their full terms and will provide their return provided the FTSE 100 at maturity is equal to, or higher than its level at the starting point.
The terms for the new DRP investment are lower than the preceding series due to changes in market conditions, according to Barclays Wealth.
Despite the early closure of DRP CP, the closure date for DRP Annual Kick-Out, its sister investment, remains unchanged and will close on 30 January.
"Demand for the DRP CP has proved exceptional but market conditions have changed significantly in recent weeks and we have been unable to secure greater capacity with the same terms," says Colin Dickie, director, Barclays Wealth.
Terms for most capital investments are "expected to be lower this year as the pricing environment makes 2008 level terms much harder to repeat," he adds.
Dickie believes the new DRP's tax benefits will tempt investors to take slightly more risk to get an enhanced return.IFAonline
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