Newcastle Intermediary Services launches clean energy product

Newcastle Building Society has launched the Clean Energy Select Account exclusively for intermediaries via its dedicated intermediary service, Newcastle IS.

The product has been launched as part of Newcastle Building Society's continued commitment to the intermediary market, by offering a wide range of Guaranteed Structured Deposits that offer some of the best potential returns available. The Clean Energy Sector is a rapidly growing market and returns over the next 5 years have the potential to out-perform some of the more traditional markets.

Key product details:

Available Until 10 October 2008
Start tracking date: 27 October 2008
Maturity Date: 27 October 2013
Minimum Investment: £500
Maximum Investment: £1,000,000
Return: 100% of any rise in a basket of 20 Clean Energy Shares[1]
100% Capital Guarantee
Early Bird Interest: 5% Gross/AER on investments until the start tracking date
Withdrawals: No withdrawals allowed until Maturity
Access: By post or online via intermediary

Steve Urwin, Senior Marketing Executive at Newcastle Building Society, commented: "This innovative new account is designed to provide customers with the opportunity to benefit in any growth in the rapidly expanding Clean Energy sector. These stocks have been handpicked to provide a balanced portfolio of clean energy companies from around the world covering sectors such as Technology, Equipment Providers and Production.

"This product is therefore suitable for those investors that wish to link their investments with companies that provide alternative energies to fossil fuels and who feel that the Clean Energy Sector will continue to grow and provide superior returns to standard stocks or indices.

"As with all our Structured Products, none of the customer's investment is invested directly into these stocks and shares. They are held on deposit with the Society and are therefore 100% guaranteed. Advisers can offer this product safe in the knowledge that their client's deposit is safe and that they are likely to receive competitive returns. Indeed, in an independent assessment by Future Value Consultants, we received excellent value scores for this product."

The account is suitable for Direct Investment, New ISA subscriptions and Existing ISA subscription transfers as well as SIPPs/SSAS investments.