This story is reproduced by kind permission of Iberia News at http://www.iberianews.com
SG Hambros Bank, which has offices in Gibraltar, has recently unveiled a 5-year deposit account which is linked to the performance of the Nasdaq index.
The account, which will be available in Gibraltar as well as Jersey, Bahamas and UK offices, requires a high minimum deposit of GB£50,000 and will provide depositors with a guaranteed minimum return after 5 years of 20% and 25% respectively.
It is believed that additional benefits could follow due to positive Nasdaq performances being capped at 11% every 6 months. Once the 5 years are up total return will then be calculated over the 10 index periods.
Depositors are said to be guaranteed original capital back in the case of a worst case scenario, as well as the minimum guarantee. The account will be open for deposits until December 4th.
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