Zurich has launched the next in the series of Guaranteed Capital Accounts, designed to give customers access to a structured product throughout 2007.
Each of the accounts will be open for a set time period and as one product tranche ends a new one will open ensuring availability throughout the year.
Available from 23 July, Zurich Guaranteed Capital Account 15, offers 135% of any growth in the FTSE Index and is open until 11 September 2007. An early bird bonus for customers of 0.33% is payable on applications received before 20 August 2007.
All of the products, which are deposit based with a five and a half year term, will continue to offer full capital security and growth potential with returns linked to the FTSE 100 Index.
Paul Wright, Zurich’s Investment Management Director, comments:
“Structured products continue to account for a significant part of the investment market, having sold £4.2 billion pounds so far this year*. The Zurich Guaranteed Capital Account is a simple structure, providing capital security, as well as the potential of high levels of stock market linked returns.”
Key features of all the Capital Accounts include :
· 100% capital guaranteed
· Gross interest of a specified percentage of any growth in the FTSE 100 Index over five-and-a-half years, currently 135%, but this participation rate may change for future tranches.
· Early maturity feature – 30% gross interest and closure of the account if the Index has grown by 30% or more on the third anniversary.
· Interest on the ISA element is tax-free under current regulations
· 100% allocation
· Minimum and maximum investments £2,500 and £250,000 respectively
· 3.25% initial commission on all monies invested into this account
