Manchester launches account linked to FTSE

Manchester Building Society is launching a guaranteed building society account linked to the FTSE 100 index. The product, a five-year bond with 100% capital protection, includes an early release feature after three years if the index grows by at least 25%. If this occurs, the bond automatically ends and the investor receives the 25% gain plus the entire capital invested. If by its third anniversary the FTSE has not risen by 25%, the bond will continue until the end of its term and investors will receive 100% capital plus any rise in the index. A fall in the index will not affect the capital...