Abbey National Offshore has launched a new Offshore Guaranteed Growth Account, which is tied to the FTSE 100 index and offers potential returns of up to 55%, it emerged this week.
The new product is capital protected, and guarantees minimum returns of 20% after five and a half years.
The growth of the index will reportedly be calculated semi-annually over the duration of the investment, with increases and decreases capped at a maximum fall or gain of 5%.
According to Abbey National Offshore, the minimum level of investment for this account is £5,000, and it will be open to investors until 26 January 2004.
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