Money News
Barclays Stockbrokers has launched a new Investment Note - the Regular Income Investment Note coming with a 5-year term and designed to provide investors with a regular income of 7.00% A.E.R. paid quarterly for the term. It is eligible to be held within a trading account, Investment ISA or SIPP. If it's held in a tax wrapper account the income will be tax free.
Capital repayment on this Note is linked to the performance of the FTSE 100 Index. Minimum investment meanwhile is £500.
If the Index has not fallen by more than 40% from the Initial Level (i.e. to less than 60% of the Initial Level) at any point during the 5-year term then you'lll receive 100% of your initial investment back at maturity.
However, if the Index falls by more than 40% from the Initial Level (i.e. to less than 60% of the Initial Level) at any point during the 5-year term and the Final Level is not equal to, or higher than the Initial Level by the Final Valuation Date, then your capital return will be reduced by 1% for every 1% the Final Level is lower than the Initial Level. This means that you'll get back less than you invested.
The offer runs through April 18th, which represents the commencement date of the plan. The Final Valuation Date is April 18th 2013.
20 March 2008 © Moneyextra.com
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