South Africa's Absa Capital will end the week with some fresh rollover money as one of its structured products, Index Performa Plus 1, is set to mature tomorrow after three years paying 162.41% (20.8% pa) of initial capital.
The three-year capital-protected uncapped call structure, which was priced two months after the collapse of Lehman Brothers, promised to pay a participation of 100% in the averaged underlying performance at maturity. The FTSE/JSE Africa Top 40 Index had a final average index level of 28,145.9, growth of around 62.4% from its strike level of 17,329.96.
This successful maturity follows up on Protected Index LSI Issue 6, another Absa Capital growth capped call linked to the FTSE/JSE Top 40 Index, which returned 150% of initial capital after three years of investment at the end of October.
As reported, Absa Capital, the investment banking division of Barclays Capital-owned Absa Bank Ltd, launched a new range of structured products on the Johannesburg Stock Exchange in October.
Absa Capital is currently marketing Commodity Protector (Issue 4) and Wealth Protector (Issue 12) which will be open until 9 December. Wealth Accelerator (Issue 2) is also available for investment until 12 December.
These products will be available shortly in Recent Additions (South Africa).