Standard Bank Offshore has achieved sales of £24m for Quantum Plus III, the third tranche of a five-year, capital-protected deposit available in sterling, euros and US dollars. The second tranche raised £28m.
Quantum Plus III is a 50/50 growth and income product paying a 4% coupon after one year on half the investment, with the remainder providing 70% uncapped participation in the positive performance of the FTSE100. The sterling version is linked to the FTSE100, with euro investments linked to the Eurostoxx50 and dollars to the S&P500. Averaging takes place on a monthly basis throughout the final year.
John Hall, director of business development at Standard Bank Offshore, said the bank is working on the fourth tranche in the series, which will open in mid-October: "Quantum Plus 4 should be ready for launch on 11 October. Initial indications are that the interest rate for the 12-month fixed deposit may be slightly higher than QP3, but we will not be able to confirm final terms until nearer the launch date," he said.
Quantum Plus III is available on the UK database.