Barclays has returned to Spain's structured retail products market with its first ever structured life insurance after four months of inactivity in the structured retail space.
"With Seguro de Inversión Garantizado, Barclays is trying to appeal clients to invest in a product with the security that the investment will be 100% covered by a Barclays guarantee," said Adelaida Careaga, head of life insurance products at Barclays Spain.
Seguro de Inversión Garantizado is a three-year growth product linked to the performance of the DJEurostoxx50. The product is based on a capped call strategy, offering 100% of capital at maturity alongside 100% participation in the rise of the underlying with a 130% cap.
Investments in Seguro de Inversión Garantizado can be recovered in full after the first year of the term subject to a 5% rate penalty.
Seguro de Inversión Garantizado will be available to investors until 26 May 2009. Minimum investment is €3,000.