Legal & General 6 Year Growth Deposit Bond 8
The launch of 6 Year Growth Deposit Bond 8 marks the eighth product in Legal & General's continuing series of structured deposit bonds.
Legal & General's Head of Business Development, James Harrington said, "Last month, Bank of England Governor Mervyn King warned energy prices could push inflation up to 5 per cent by the end of the year. With the Consumer Prices Index likely to remain at or above its current level for some time yet we are experiencing continued demand for these deposit bonds, which help savers ensure their savings keep pace with inflation. We are also seeing growth in the use of our structured products as part of the portfolio planning process as more and more advisers, and their clients, experience the quality of our products.Our Growth Deposit Bond offers an attractive minimum return (13.5%), the potential higher returns linked to stock market growth plus 100 per cent protection of their initial capital. Three good reasons for advisers to recommend this product for cautious investors."
The latest product in the series, 6 Year Growth Deposit Bond 8, offers investors a minimum return of 13.5% at maturity (2.13% AER) or an upside potential of 100% of any capital growth in the FTSE 100 Index (subject to averaging), up to a maximum of 50% of their original investment, whichever is greater. Plus it aims to return the investors' original capital at the end of the six-year fixed term, 31 August 2017.
The offer period for 6 Year Growth Deposit Bond 8 runs from Monday 20 June to Friday 12 August 2011and the contract start date is 31 August 2011.
The minimum investment is £500 and the Bond is available as a deposit plan (for individuals, pension trustees, charities and corporate applications), new cash ISA applications (up to a maximum of £5,340) and for cash ISA transfers for which there is no maximum. The last date for ISA transfers is 29 July to allow time for the completion of transfer before the offer close date. The closing date for all other applications is 12 August.