HBOS group’s Birmingham Midshires is offering cash back to attract UK investors to its new growth and income product.
The product offers a coupon of 5% at the start of the investment and a minimum capital return of 100% at maturity, plus the greater of 5% and 75% of the rise in the FTSE100 index.Senior product manager Carl Bradbury said the 5-year 5% Cash-back GEB was originally launched as a rollover for investors in a guaranteed equity bond launched five years ago. Although the product had shielded investors from falls in the market, they only had their cash returned, so 5% was offered as a rollover inducement.
“It proved really popular,” said Bradbury, “and so we opened the product up to wider distribution so that new customers can take advantage of the product.”
This product appears in Current Offers (UK).
