West Bromwich Building Society has launched the Protected Capital Plus Bond Issue 1, a new FTSE-linked cliquet strategy paying investors a maximum of 148% at maturity.
At the end of the six-year investment period, the product pays a minimum capital return of 112% or the sum of the underlying's quarterly performances, capped and floored at plus or minus 2%.
According to SRP data, cliquet structures have been the most favoured payoff type for the building society since the beginning of 2008. Of the 27 products launched by West Brom since then, 13 of these have been cliquet strategies.
Protected Capital Plus Bond Issue 1 will be open for subscription until 18 October. Minimum investment is £2,000.
This product appears in Recent Additions (UK).