Barclays Stockbrokers is marketing its first product of 2011, an RBS UK-backed knockout certificate linked to the FTSE100.
RBS UK 10% Autocall is a five-year growth product linked to UK's domestic benchmark. It can mature from year two onwards, paying 10% per elapsed year on the annual observation date on which the underlying index is above its starting level.
Des Byrne, head of Barclays Stockbrokers, said the product has been launched in response to demand towards the end of the current tax year for products eligible for tax-efficient status. "We anticipate significant client demand for this product, given that it can be held in an Isa or a Sipp," he said. "All returns [would then] be free from capital gains tax."
RBS UK 10% Autocall has been issued by RBS, which currently has an A+ rating by Standard & Poor's. The product will be available for subscription until 17 March. Minimum investment is £100.
This product is available in Recent Additions (UK).