South Africa's Absa eyes 160% return

South African bank Absa has told investors in its Index Performa Plus that it expects the product to return around 160% when it matures on 5 December.

The FTSE/JSETop40 will have risen over 60% (including averaging) since the product's inception in 2008,  provided the market does not dramatically sink before maturity, said the firm. The proceeds will be available by 12 December.

The firm is encouraging its distributors to roll maturing monies into its current offers, which include Wealth Accelerator, a four-year product also linked to the FTSE/JSETop40. It pays a return of two times any rise in the index, subject to a maximum overall return of 160%. The product carries a -50% soft protection barrier.

The product is available until 12 December for a minimum ZAR100,000 ($12,700) and carries a 3% commission.