Israel’s Leumi markets S&P500 shekel-deposit

Israel's Bank Leumi has launched its first S&P500-linked product since January 2010 as part of its structured deposit range for Israeli investors.

This 2.5-year shekel-denominated deposit pays 100% of S&P500 performance with averaging of ten quarterly observations and interest income linked to the dollar-shekel exchange rate.

According to SRP data, Bank Leumi has marketed 15 structured deposits so far this year, of which six each were shekel and USD-denominated and three were euro-denominated. The majority of Bank Leumi's products are linked to interest rates (8), though two are linked to the Market Vectors Gold Miners index, and individual issues are linked to a basket of international stocks, Teva Pharmaceutical Industries, the Tel Aviv Banks index and the Tel Aviv 25.

This product will be available until 13 April. Minimum investment is NIS15,000 ($4,232).

This product is available in Recent Additions (Offshore & other).