Top Ten Kickout Plan, marketed in May 2010 by Meteor Asset Management, knocked out returning 117.5% of initial capital on its first anniversary. The product is Meteor's most successful knockout this year.
The plan, which was hedged by BNP Paribas, was linked to a basket of ten blue chip FTSE100 shares and had 50% soft protection. On the first anniversary, at least eight of the ten stocks in the basket were above their strike. The broader index also performed positively, rising from 5188.4 to 5990 over the same period.
The early maturity is Meteor's fourth first-anniversary knockout this year. Emerging Markets Kickout Plan returned 115% of initial investment in February, Emerging Markets Kick Out Plan 2 returned 112% in April, and Prima Platinum Plan III returned 109% in February.
Meteor is currently marketing two knockouts – the latest tranche of Top Ten Kick-out Plan, also with assets from BNP Paribas, and a five-year quarterly income product linked to five FTSE100 shares, with assets provided by Royal Bank of Scotland.
These products are available on the UK database.