Dutch-owned bank ING Direct has launched its first structured product for UK retail investors. Guaranteed Investment Account, Issue 1 is a three-year capital-guaranteed deposit offering 65% of FTSE100 growth at maturity.
The product is the first UK structured deposit to offer no penalty for early redemptions of capital plus 10% of any accumulated growth. Exit points are offered at six-monthly intervals throughout the investment term.
For this first issue, the bank has planned weekly strikes through to the end of the year.
Investors, who must be UK residents, can purchase the account online provided they have an existing savings account with ING Direct.
Although this is ING’s first UK structured products SRP lists over 900 products launched by various parts of the group across Europe including in Belgium, France, Germany, Italy, The Netherlands, Spain and Switzerland.
This product appears in Recent Additions (UK).
