UK Money News
23rd June 2008
Egg launches new equity bond
Online bank Egg has launched a new three-year guaranteed equity bond offering a rate of return of 26 per cent (eight per cent AER).
The bond's returns are tied to the performance of the FTSE 100 with savers guaranteed the return in the event "of any growth" in the index over the next three years.
Investors can also benefit from the fact that there is no risk to the capital, provided that the initial sum is kept in the bond for the duration of the maturity.
Jonathan Gains, head of investments at Egg, said: "Given current economic uncertainty and rising prices and inflation, a potential return of 26 per cent over the full term plus the addition of capital protection mean will appeal to investors who are cautious but looking for a potentially higher return than most deposit accounts can offer."
Investments can be from £1,000 to £1,000,000, with the offer available from 23rd June to 20th July 2008.
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