Cater Allen launches FTSE 100 structured product
Cater Allen Private Bank, part of Santander UK plc, launched a deposit based product which offers investors 120 per cent participation in FTSE 100 Index growth.
The Cater Allen Growth Plan 14 offers an uncapped return on their original investment equivalent to 120 per cent of any rise in the FTSE 100 index at the maturity of the six-year plan.
According to the investment house monthly averaging over the final year eases against any market volatility.
Peter Beavis, sales director of Cater Allen Private Bank, said: “The Growth Plan 14 will appeal to investors looking for wealth preservation as well as access to potential market upside.
“As there is no cap on this structured deposit, this also means unlimited potential returns in line with FTSE 100 index growth.”
The plan requires a minimum deposit of £5,640 and is suitable for 2012 to 2013 Cash Isas and Isa transfers.
The product can also be used within an offshore bond wrapper, Sipp or Ssas.
Early bird interest is included in the plan at a fixed rate of 0.50 per cent AER.
All Cater Allen deposits are guaranteed by Santander UK plc, and eligible investors in the plan are also covered by the Financial Services Compensation Scheme (FSCS) under Cater Allen’s own banking licence.
The deadline for investment is 20 July 2012 (or earlier if sold out), and the product’s commencement date is 17 August 2012.