Barclays Capital has made changes to its structured deposits series for offshore bonds and UK onshore life insurance company wrappers. The new three-year Sterling Account has changed its uncapped call payoff to a digital, and the euro-denominated Euro Account has an increased cap on performance.
Head of retail insurance solutions David Macdonald said the introduction of a digital payoff was driven by adviser demand for deposits with potentially above-market returns in an easy-to-understand format. He said market conditions had allowed for the relaunch of the Euro Account on improved terms.
The Sterling Account will pay 22% growth if the underlying FTSE100 is above its strike level after the three-year eleven-month term. The Euro Account will pay 100% of the positive performance of the Eurostoxx50, capped at 22%, after a shorter three-year term. Both products are capital protected.
The Sterling and Euro Accounts will be available until 29 June. Minimum investment is £20,000 and €20,000, respectively.
These products will be available shortly in Recent Additions (UK, offshore & other).