Bank of Ireland Offshore has launched a 3 Year Growth Bond. The fixed term deposit bond tracks the FTSE 100 and the Nikkei 225, offering the potential to earn up to 32% gross at maturity with 9.75% AER, while guaranteeing initial capital.
The investment is linked to, but not invested directly in the indices. Therefore the investment will not benefit from individual dividend income or the reinvestment opportunity from the companies listed in these indices.
Although the initial capital is secure, its value could be eroded by the effects of inflation, warned the company.
Michael McKay, managing director at Bank of Ireland Offshore, said: “Given the current market conditions the 3 Year Growth Bond offers a good opportunity to secure your capital whilst having the potential to earn a competitive return over a short term.”
The bond is available until 7 November with a minimum investment of £5,000 and maximum of £1m. There is 2% commission for IFAs.
Bank of Ireland Offshore is based in the Isle of Man with a branch in Guernsey (the former Bristol & West International). It currently has deposit levels in excess of £3bn.
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