Kudos Financial Services, an independent financial advisory (IFA) subsidiary of the Mattioli Woods Group, has entered the UK retail structured products market with two new investment plans in a move that forms part of a Mattioli Woods strategy to develop its wealth management business.
"As part of the Mattioli Woods Group's continuing strategy for structured products, our objective is to offer plans on a regular basis, and for clients to invest modest amounts sequentially to diversify the underlying asset, counterparty risk and marketing timing," said Adeline Christy (pictured), director of wealth management at Kudos. "Our investment committee has conducted a market review and has identified these two opportunities which we believe are attractive in the present climate."
The two new products have been hedged by Credit Suisse AG and the Royal Bank of Canada respectively, with Meteor acting as provider and plan manager.
The Credit Suisse AG Triple Index Step Down Kick-Out Plan is a six-year plan linked to the FTSE100, S&P500 and Eurostoxx50 indices with the potential of early maturity from year two, paying 10.25% per annum if the three indices are at or above 80% of their strike values on any observation date. This product features a 50% European soft-protected barrier.
The Royal Bank of Canada 5 US Stocks Kick-Out Plan is a six-year plan linked to the top five stocks in Dow Jones Industrial Average Index (3M, Chevron, IBM, McDonald's and United Corporation), offering the potential of early maturity from year one paying a 10% per annum return if the levels of all the shares in the underlying basket are at or above 85% of their initial levels. This product is soft-protected at 60%.
These products will be available shortly in the UK database.