Tuesday 22nd January 2008
Bank of Scotland International has launched 'Bond 25', its new 50:50 Five Year Sterling or US Dollar Capital Guaranteed Savings Bond.
'Bond 25' guarantees customers' initial capital investment is protected whilst giving the opportunity to benefit from the growth potential of the stock market. The minimum investment level is £10,000 for the Sterling account and $20,000 for the US Dollar account. The account is available from 21st January 2008 with the closing date for applications on 3rd April 2008.
Five Year Capital Guaranteed Savings 'Bond 25'
Under 'Bond 25', half of the capital is invested for just one year at a fixed rate of 12% p.a (8% for the US dollars). This is returned at maturity on 9th April 2009* to a nominated account .
The other half of the capital is linked to the performance of a 'basket' of indices over five years. The 'basket' is made up of the Swiss Market Index, Dow Jones EURO STOXX50 and the Nikkei 225.
At the end of the five years, customers in the 'Bond 25' Sterling will receive the remaining half of the capital, along with 62% of any average percentage rate increase of the 'basket' of indices. Customers in 'Bond 25' US Dollar will receive the remaining half of the capital, along with 54% of any average percentage rate increase of the 'basket' of indices**.
The start date for 'Bond 25' is 9th April 2008. The 12% p.a. one year fixed term on these accounts will mature on 9th April 2009. The five year fixed term will mature on 9th April 2013.
Tony Wilcox, managing director at Bank of Scotland International, says:
"Launching our 25th bond is testament to the popularity of this product. Bond 25 provides customers with the opportunity to benefit from the growth potential of the stock market whilst protecting their initial capital investment."
Ends.
Editors' Notes
*Next banking day
** The 'Average Level' or the percentage rate increase will be determined by taking the average level of each index respectively on 9th of each month, over the 13 months before the account's maturity date on 9th April 2013.
All applications received between 7th January 2008 and 3rd April 2008 will receive 0.06% below the Bank of England base rate until 8th April 2008 inclusive.
Bank of Scotland International offers a range of services to suit the needs of customers all over the globe. This includes everything from offshore banking and savings accounts, offshore mortgages and financial planning.
For further information about Bond 25 please visit www.bondtwentyfive.com or call 01534 613514.
