Bank of Scotland (Ireland) confirmed that it recently closed its first structured retail product, Phoenix 1, a deposit offering full capital protection in addition to growth linked to the DJ Eurostoxx50. The five-year product provides 50% participation, subject to final-year averaging.
"Our deposit customers are telling us they need capital security on their investments, but they also want better returns as the ECB continues to cut rates. Phoenix 1 provides that and more. This will be the first in a series of deposit investment products that we intend to launch over the coming months," said Noel Griffin, head of group deposits.
Phoenix 1 requires a minimum investment of €25,000.
This product appears in Recent Additions (Ireland).