Barclays unveils index-linked 'protected' product

Still, several IFAs have expressed their dislike of structured products in general, with one adviser describing the note as "one for the bin" which investors ought to "junk".

Another adviser, Jason Butler, partner for Bloomsbury Financial Planning, said: "These products are great for investment banks. I always say if you cannot cope with the market then do not buy into it.

Mr Butler sees little attraction in the tradable feature of the notes. He said: "There is no real after-market and if there was one you would be taking a haircut.

"Wealthy clients whom we advise can structure something much better and at lower cost," he said while advising that investors would be better off buying index-linked funds or exchange-traded funds which pay dividends and provide full upside exposure."