6 Year Growth Deposit Bond from Legal & General
Legal & General has kicked off the New Year with the fifth plan in its series of structured deposit bonds.
The 6 Year Growth Deposit Bond 5, is available to IFAs for a limited 8-week period from Tuesday 4 January to Friday 25 February 2011. The structured deposit offers savers an upside potential for capital growth of 200% of any growth in the FTSE 100 Index or a minimum of their original capital provided they remain invested for the 6 year fixed term. Payment will be made on 24 March 2017.
6 Year Growth Deposit Bond 5 is a six year fixed term deposit plan that offers investors 200% of any capital growth in the FTSE 100 Index, up to a maximum of 50% of their original investment, plus the return of their original investment at the maturity date, which is
17 March 2017.
Legal & General's Head of Business Development, James Harrington said, "The continued volatility in investment markets, the return of the spectre of rising inflation coupled with continuing low interest rates are likely to increase demand for structured deposits among cautious investors. The returns on 6 Year Growth Deposit Bond 5 reflect the performance of the FTSE 100 Index, which should prove extremely attractive for many customers who are seeking a potential return that exceeds the rates they could achieve by leaving their money in a traditional deposit account. In addition our structured deposit is designed to minimise risk and, if held in a cash ISA, provide a tax efficient shelter for any growth."
The minimum investment is £500 and the bond is available as a deposit plan (for individuals, pension trustees, charities and corporate applications) and for cash ISA transfers for which there is no maximum. It is also available as a cash ISA for the 2010/2011 tax year for which the maximum investment is £5,100 (the closing date for ISA transfer applications is 11 February to allow time for completion of the transfer before the offer close date).
Commission is 3 per cent of the sum invested. Full details of the 6 Year Growth Deposit Bond 5 are available on the Legal & General dedicated adviser website, landgstructuredproducts.com.