Bank of Scotland International launches new five-year bond
Financial services provider Bank of Scotland International has expanded its rnage of investment products with the launch of its new five-year sterling capital guaranteed savings bond 22.
The new bond guarantees customers' initial capital investment and gives them the opportunity to benefit from any growth or fall of the FTSE 100 index. At maturity, customers will receive their initial investment back, along with 80% of the average percentage rate increase or decrease of the FTSE 100 index, or a total return of 10% gross regardless of the FTSE performance, whichever is the greater amount. If the FTSE 100 index increases, customers will receive 80% of any growth. If it decreases, customers will receive 80% of the decline as a positive return. For the purposes of calculating the 80% return, any fall in the index will be treated as if it were a rise in the index. The bond requires a minimum investment of GBP10,000. The closing date for applications is July 24, 2007, while the maturity date for the bond will be July 31, 2012.
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