UK: SKIPTON BUILDING SOCIETY LAUNCHES TRACKER BOND
Article Abstract:
Skipton Building Society is offering the Growth Protection Bond, a tracker bond, linked to the Financial Times 100 Stock Exchange Index (FTSE 100) for three years. Should the index increase by 10 % or 20% at any time between July 2001 and July 2004, bondholders will be guaranteed that rate. They will receive interest of no more than 25% for the period, based on the growth of the FTSE. The maximum investment is GBu 10,000 and the minimum GBu 2,000. According to Mark Dampier of Hargreaves Lansdown, independent financial adviser, a unit trust invested in the stock exchange would be a better investment.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: SKIPTON ANNOUNCES FIXED RATE BOND
Article Abstract:
The Skipton Building Society has announced a new fixed rate bond with a gross interest rate of 5.75% up to maturity at the end of March 2002. The maximum amount that can be invested is GBu 1mn but the minimum is GBu 300 and for a limited period additional deposits of not less than GBu 500 can be made to the bond. The bond is only available for a limited total amount.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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UK: SKIPTON LAUNCHES TRACKER MORTGAGE
Article Abstract:
Skipton Building Society has introduced the Manhattan Mortgage tracker product, which offers an overpayment facility, payment holidays, and daily interest. The product tracks the US Dollar LIBOR rate on a three-monthly basis and is subject to a 5% redemption charge during the first five years.
Publication Name: Financial Adviser
Subject: Business, international
ISSN: 0953-5276
Year: 2001
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