New 5.375% fixed corporate bond at Lloyds

Lloyds TSB has launched a fixed-rate corporate bond designed specifically for retail investors.

The Lloyds TSB Bank plc bond offers individuals the opportunity to invest in a product which until recently was only accessible to institutional investors.

With a fixed rate of 5.375 per cent per annum with a semi-annual coupon, the product offers a guaranteed rate of interest for five years and three months.

The minimum investment is £1,000, with larger deposits possible at £1,000 increments thereafter.

Richard Shrimpton, head of capital markets insurance at Lloyds, said the bank was "delighted" to offer retail investors access to a product that guarantees a great rate of return without locking away capital.

"Working with a network of retail brokers, we have designed the Lloyds TSB Bank plc bond with the changing needs of investors in mind," he stated.

Legal & General recently launched a six-year structured deposit bond designed to give investors a minimum return of 12 per cent on their capital.

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2010-06-08 12:26:36 © Moneyextra.com