Bank Of Valletta Announces New Equity Linked Account

by Phillip Morton, Investors Offshore.com

14 October 2003

BOVI, the private banking division of the Bank of Valletta is to launch a new six year Equity Linked Term Deposit account denominated in sterling, which will be diversified in different sectors across Europe, the United States and Asia.

Commenting on BOVI's new Capital Guarenteed product, Peter Perotti, Executive Head of Private Banking with the Bank of Valletta explained that: “The new GBP 6 Year Equity Linked Deposit we are launching combines simplicity and effectiveness. Apart from offering 100% Capital Guarantee if held until maturity coupled with an attractive guaranteed interest payment at the end of the first year, interest is thereafter linked to a portfolio of 20 international blue-chip stocks."

"These have been chosen for the leading position they occupy in their respective sectors and their long-term growth potential. All these characteristics make this new product an ideal investment avenue for all those investors seeking to diversify their portfolio and potentially improve their returns”.

The minimum investment for the new account, which does not charge an opening fee, is £2,000 which can then be topped up in multiples of £1,000. The European Stocks held are those of Allied Domecq Plc, Bayer AG, BP Plc, Carrefour SA, Daimler Chrysler AG, E. ON AG, Enel SpA, Eni SpA, GlaxoSmithKline Plc, J Sainsbury Plc, Metro AG, Royal & Sun Alliance Insurance Group, Scottish Power Plc, Unilever NV. The American Stocks include Coca-Cola Co, Gillette Co, JP Morgan Chase & Co, Kellogg Co. NTT Docomo is the Japanese stock which forms part of the portfolio.

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