Santander UK's Cater Allen Private Bank is marketing three new structured deposit plans including commission and non-commission options, among UK financial advisers.
"We are offering three different products to take into account individual market expectations, said Jonathan Banks, structured products manager at Cater Allen Bank. "Whether a client envisages steady market growth over the short to medium term or fluctuations over that period, they can select either a growth or an annual locked-in return product."
The Cater Allen Growth Plans will pay 100% participation in the performance of the FTSE100 Index over a three and three quarter-year term capped at 126%; while the six-year version will pay an uncapped return as well as offering a 0% commission option with the option to partially or fully rebate this to the client. The capped call version has monthly averaging over the final six months, and the six year-term over the final twelve months to minimise the effects of market volatility.
The Annual Locked-In Return Plan 7 will pay at maturity the initial investment alongside up to six annual locked-in returns equal to 6% gross of the original investment for each year that the FTSE100 Index is at or above its strike level.
The three products can be used within an offshore bond wrapper, self-invested personal pension (SIPP) or small self-administered scheme (SSAS). Early-bird investors will receive 0.50% AER.
The plans will be open for subscription until 8 March and will strike on 4 April.