Barclays Wealth has launched a new tranche of its Regular Income Bond (RIB) series lowering the headline income rate from 6.3% pa featured in the previous tranche, which closed two weeks before the end of its offer period due to high sales, to 5.75% pa for the current issue.
Barclays Regular Income Bond is a FTSE-linked six-year product offering investors the option of either a fixed annual payment or monthly income paying 5.75% pa. The product features a -50% soft protection.
"Our new RIB offers a viable alternative to traditional equity-based income funds as it gives investors a fixed rate of return over a set period of time and offers a premium over cash, with risk to initial investment only if FTSE loses more than half its value during the term," said Lisa Chaudhuri, vice president at Barclays Wealth, adding that investors are increasingly on the lookout for a dependable form of income.
This product will be available for subscription until 11 October 2010. Minimum investment is £5,100.
This product is available in Recent Additions (UK).