Barclays launches Defined Returns plan

The new Defined Returns plan, linked to the FTSE 100 index, includes a commonly used ‘kick out’ feature that will redeem automatically on any anniversary on which the closing level of the index is the same or above its starting level. If no redemption takes place capital will be repaid in full to the investor unless the index has fallen by more than 50pc during the term and the final index level is lower than when it started, at which point capital is reduced on a one for one basis. The capital protected plan pays a fixed return of 18pc or 38.75pc at maturity for the three and five ye...