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Key Dates |
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Plan Closes: 10 March 2010 |
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Plan Overview
If you like the idea of a return linked to FTSE 100 growth, but are concerned by the unpredictability of the markets, Skipton Building Societies Guaranteed Double Asset Bond may offer you a solution. In simple terms, its a building society account, so your capital is not at risk. However, you could benefit from a return linked to the growth in the FTSE 100. The Guaranteed Double Asset Bond is split into two parts. When you initially invest into this product a fixed rate of 2.00% gross pa/AER will apply until midnight 23 March 2010. Then your capital plus any interest will be invested as detailed in the following two sections; 1. The 1 Year Fixed Rate Bond One third of your capital is invested into a 1 Year Fixed Rate Bond with a guaranteed interest rate of 6.00% gross pa/AER for 12 months, which will be added to your bond at maturity. Start Date: 24 March 2010 Maturity Date: Midnight 24 March 2011 For added flexibility during the one year term, you can withdraw up to 50% of your initial investment from the 1 Year Fixed Rate Bond, should the need arise. However, once you make a withdrawal, please remember that funds cannot be replaced. 2. The Index Linked Bond FTSE Two thirds of your capital is invested into an Index Linked Bond, which offers a return of 100% of any positive growth dependent on the performance of the FTSE 100 index over a five and a half year period. Please note that the maximum growth you can receive on your investment is 60%. The initial reading is the closing level of the FTSE 100 Index on 24 March 2010. The final growth value will be based on the average of the readings from and including 18 September 2014, up to and including 17 September 2015. The effect of averaging may affect the final level of the Index used to calculate the benefits. The final reading is compared to the initial reading and you will receive 100% return of any positive growth of the FTSE 100 index, subject to the maximum growth of 60%. Maturity Date: Midnight 21 September 2015. Investment requirements Minimum investment: £3,000, by cheque or transfer £1,000 in the 1 Year Fixed Rate Bond £2,000 in the Index Linked Bond Maximum investment: £250,000. Please ensure you have read and understood the full plan details before investing. |
