L&G offers capital protection with Growth Investment Plan Plus 17

Growth Investment Plan Plus 17 opened for investment on 17 November and will be available for investment until Friday 16 January 2009. Investors can benefit from 100 per cent capital protection at maturity plus a return of 150 per cent of any capital growth in the FTSE 100 Index over the investment term, which is six years, maturing on 21 January 2015.

Legal & General's investment development director (individual wealth), Jamie Vale said: "As interest rates are widely forecast to continue their downward momentum we are likely to see savers looking for potentially higher returns than they will get by keeping money on deposit and considering a move to invest into the stock market. The capital preservation provided by Growth Investment Plan Plus 17 is designed to help to reduce the concerns investors may have about the best ‘time' to move into the stock market. We believe that, for cautious investors who recognise the potential for capital growth from any FTSE 100 Index recovery over the six year investment term, our latest plan (GIPP 17) provides an attractive way to ‘hedge' an investment in equities while equity values remain volatile."

Growth Investment Plan Plus 17 includes an early payment feature (sometimes referred to as a ‘kick out' feature), which means that if the FTSE 100 Index grows strongly the investment could close early.

The early payment feature will be activated if the FTSE 100 Index has grown by 15 per cent or more at the third anniversary.

If the early payment feature is activated, the investment will close and there is no option for the investment to continue.

Investors in Growth Investment Plan Plus 17 receive ordinary shares in the Growth Investment Plus XVII sub-fund of Legal & General Protected Investments plc (which is a Dublin based company, authorised by the Irish Financial Services Regulatory Authority).

Investment is available as an ISA or ISA transfer. The minimum investment is £500 for ISAs and shares purchased through the brochure and £10,000 for investment directly into shares purchased via the Securities Note and Company's Registration Document. This investment does not take account of dividends that would be available through holding shares directly in the companies that make up the FTSE 100 Index.

Although capital is protected at maturity it is not guaranteed. In order to provide the capital protection and stated return, the money is invested with high quality financial institutions with at least an ‘A' or ‘A2' financial strength rating (source: major global rating bodies). These institutions are considered financially secure by their nature. It is only in the event that they default on their payments that Growth Investment Plan Plus 17 would be unable to meet its stated objectives and investors would not get back all of their original investment or the stated return.

Growth Investment Plan Plus 17 pays a commission to advisers of 3 per cent of the sum invested (no commission on switches from existing Legal & General investments). IFAs, who require more information on Growth Investment Plan Plus 17, should contact their normal Legal & General representative or call 0845 270 7010. Lines are open from 9 am to 5 pm Monday to Friday. We may record and monitor calls. Call charges will vary.