Legal & General 6 year growth deposit bond
Legal & General has launched a 6 year Structured Deposit Bond designed to give investors a minimum return of 12% plus their original capital at the end of the fixed term.
This product will appeal to investors who wish to invest for the medium to long term and who desire capital protection. It provides a minimum return of 12% or if greater, 100% of any growth in the FTSE 100 Index up to a maximum of 50% of the original investment.
Legal & General maintains its promise to offer customers the opportunity to invest in products that give diversity plus the potential of returns from the performance of the FTSE 100, whilst minimising risk.
Legal & General's Head of Business Development, James Harrington said "The 6 Year Growth Bond gives customers the ability to invest tax free for a fixed term and with the additional potential for a return linked to the stock market. This should be an attractive proposition for many customers at this time".
The 6 year Growth Deposit Bond launched to IFA's on Monday 4th May 2010 and will be available for investment until Friday 25th June. It is linked to the performance of the FTSE 100 Index.
It offers a 12% minimum return or if greater: 100% of any capital growth in the FTSE 100 Index, up to a maximum of 50% of the original investment; plus the return of the original investment. It is a 6 year term and is available as a cash ISA, deposit plan and for cash ISA transfers.
The offer is available from Tuesday 4 May to Friday 25 June 2010. The Deposit taker is Ulster Bank Limited.
The growth of the index will be measured using the initial level of the index at close of business on 15 July 2010 and the average level of the Fund in the last 12 months of the investment, commencing 15 July 2015 to 15 July 2016. The average level is based on the closing level of the index on the 15th of each month during the averaging period (13 observations).
6 Year Growth Deposit Bond 1 is designed to return the original investment at the end of the fixed term. If investors take out some or all of their money before the end of the fixed term, they may get back less than they originally invested.
The 6 Year Growth Deposit Bond 1 is available as a cash ISA for 2010/2011 tax year (up to £5,100), cash ISA transfer or as a deposit plan for individuals, pension trustees, charities and corporate applications. The minimum investment is £500. There is no maximum for Deposit Plan. £5,100 is allowable for 2010/2011 Cash ISA's.