Macquarie has added a long running tranche series to its online platform 'due to popular demand.'
The Australian bank has made its Macquarie Step product available on its wrap platform, which will allow for online application as well as easier administration and updates.
Macquarie Specialist Investments division director, Xanthe Virtue (pictured), said the decision was made following strong demand for the structured product from their financial adviser base.
The product is in its tenth series and, as a whole, has raised an estimated AUD105m ($105.7m) since its first version struck in late 2011.
The latest version, Series 10, is linked to the S&P500 and the Pimco Total Return Fund. At maturity, 100% initial capital is returned along with 100% participation in the final growth of the underlying basket.
Investors may choose to receive cash or shares in BHP Billiton, equal to the final value of their investments at maturity.
Average sales volumes for the last three series were estimated at AUD20m ($20.1m) while the previous versions had an average sales volume of AUD7.5m ($7.55m).
Underlyings for the series were index-heavy, with the S&P 500, the ASX200, the Kospi 200 and MSCI Singapore and MSCI Taiwan indices featured, as well as Pimco Total Return Fund and the Hong Kong Tracker Fund.