Investment boutique Jubilee Financial Products has issued a deposit-linked plan called the Growth Deposit Account.

The plan invests in a deposit at Lloyds TSB Bank linked to the FTSE 100 Index, and offers full capital protection if held to the end of the six-year term, with returns of 120 per cent of the growth of the index up to a maximum return of 60 per cent.
 
Ian Millward, Jubilee’s head of distribution, says: “Lloyds TSB is one of the most respected names in the UK so we believe that an investment offering 100 per cent capital protection, geared growth on the FTSE 100, and that can be held in most offshore bonds is likely to be extremely popular.”
 
The company has also issued a new version of its Early Redemption Plan, with a potential ten per cent redemption bonus in the first year.
 
The redemption bonus in subsequent years represents a “step-down” structure, with a rate of nine per cent p.a. in the second year, eight per cent p.a. in the third year, seven per cent p.a. in the fourth year, and six per cent p.a. in the fifth and final year.
 
Millward says the Early Redemption Plan is intended for sophisticated investors who are of a view that the FTSE is likely to grow or remain steady over the next few years.

The Growth Deposit Account is directed at investors looking to take part in moderate to strong FTSE growth over the next six years, without risking their capital in the stock market.
 
Both products are administered by Bank of New York Mellon.