James Hay is launching its first structured product which will allow investors to take advantage of the credit-crunch battered share prices of four leading UK banks.
The Selected UK Banking Plan will hold a 25% weighting in Lloyds TSB, Barclays, HSBC, and Royal Bank of Scotland. It also offers 100% capital protection after five years. One bank not included in the plan will be James Hay's parent Abbey National, itself a subsidiary of Spanish banking giant Banco Santander. The issue date for the plan is scheduled for 14 August 2008 and there is a minimum investment of £10,000. Commenting on the launch, James Hay says: “Whilst it is not possible to know whether banking shares will return to their previous levels, current valuations of banking shares ...
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