NEW STRUCTURED DEPOSIT LAUNCHED BY LEGAL & GENERAL OFFERS 9.0% MINIMUM RETURN
Legal & General has launched the fourteenth product in its long line of capital protected structured deposit bonds, which have now run since May 2010.
The new product, 6 Year Growth Deposit Bond 14, offers investors a minimum return of 9.0% at maturity (1.45% AER), or if greater 100% of any capital growth in
the FTSE 100 Index (subject to averaging), up to a maximum of 50% of the original investment.
This Deposit Bond, which also marks the second anniversary of the series, opens for investment on Tuesday 8 May and closes on Friday 29 June 2012.The Bond will also return their original investment at the end of the fixed six year term, which is on 18 July 2018. If investors take out some or all of their money before the end of the fixed term they may get back less than they originally invested.
David Beard, Legal & General’s Business Development Manager, Platforms & Distribution said; “The long running success of this structured deposit series is due to its appeal for cautious investors on three levels: Firstly, the dual benefits of capital protection and a fixed minimum return at the end of the six years present a clear and simple offer, which provides an alternative to simply leaving money on deposit. However, the third benefit – the potential to benefit from positive growth in the FTSE 100 Index – has also proved to be an attractive additional reason for savers who are seeking to inject some growth into their savings without risk to capital to invest in this product range.”
The minimum investment is £500 and the Bond is available as a deposit plan (for individuals, pension trustees, charities and corporate applications). Investors can use their cash ISA allowance, where available, and invest up to £5,640 for the 2012/2013 tax year before the close on 29 June. There is no maximum for cash ISA transfers, or if investing in a deposit plan.
The last date for ISA transfers is 15 June to allow time for the completion of the transfer before the offer close date. The closing date for all other applications is 29 June 2012.
Commission is 3% of the sum invested.
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