Standard Bank Isle of Man Limited has launched their latest structured products offering, Protected Return Deposit Issue 3.
The product is designed to return, on the Maturity Date after three and a half years, initial capital deposited together with the potential for a Defined Return in the event of positive Market Performance. The measurement of Market Performance will be based on the performance of the FTSE 100 Index for Sterling deposits, the S&P 500 Index for US dollar deposits or the S&P / ASX 200 Index for Australian dollar deposits.
The Defined Return paid on the Maturity Date in the event of positive Market Performance will be 13.5% (3.66% AER) for Sterling, 11.3% (3.09% AER) for US dollar or 26.9% (7.00% AER) for Australian dollar deposits.
Protected Return Deposit Issue 3 is on sale until 7 December 2012. The deposit Term starts on 14 December 2012 with 21 June 2016 as the Maturity Date. Minimum deposit amounts are £5,000, US$7,500 and AU$7,500.
Chief Executive of Standard Bank Isle of Man, John Coyle, commented: “Our structured products are typically designed for depositors who seek capital security and the potential for a return linked to the performance of a stock market index. Protected Return Deposit Issue 3 has been introduced in response to client requests for an attractive, shorter term product. We expect a good demand for this offering, particularly because on maturity the product is designed to return capital regardless of Market Performance.”
He added: “Given the current economic uncertainties, now might be an ideal time to commit to a product which provides capital protection at maturity, along with the opportunity to take advantage of any continued stock market recovery. In circumstances where stock market performance may be positive but limited, investors may find that the return on the Maturity Date exceeds such performance. Protected Return Deposit Issue 3 may therefore be suitable for depositors who hold a view of limited and uncertain stock market performance over the next three and a half years, and wish to have capital protection in place in the event that markets fall.”
