Czech and Slovak ING raises more than planned

ING Life has raised more than planned in the Czech Republic (CZK224m; €8.83m) and by €400,000 more in Slovakia (€1.9m) for a product sold in the two countries as ING Garance Plus 2 and GarantING 3, respectively. The underlying note for the investment is ING Bank's 5Y CZK Autoselector Trend Spotter Note. "This confirms again that people in this uncertain period are looking for products that offer safe investment with an associated attractive yield," said ING Life CR/SR director Viktor Kouřil.

The fully-protected five-year product assigns 100% rise to any component of a four-index basket (Hang Seng, iBoxx, Stoxx600 Utilities and S&P GSCI Crude Oil ER) whose current performance is above the index average for the previous 12 months. Otherwise, the strategy switches out of that index and no growth is assigned for that month. At maturity, participation in the strategy is capped at 150% capital return.

These products are available on the Czech Republic and Slovakia databases.