The product, from the structured products distribution specialist that is part of the Arbuthnot Banking Group, is called the Memory Interest Deposit – March 2013.
Gilliat’s first structured deposit aimed solely at the offshore market offers a potential 6% a year and pays out each year that the investments are above their strike levels.
If any of the investments are below their strike level, that year’s coupon is not lost but rolled over to the next year.
The performance of the Memory Interest Deposit – March 2013 is linked to the performance of six FTSE 100 shares – Barclays, Rio Tinto, Unilever, National Grid, AstraZeneca and Tesco.
Adrian Neave, managing director of Gilliat Financial Solutions said the market for deposit-based products issued by UK banks from our expatriate client base was very strong and that is why it is aimed specifically at the expatriate and offshore bond market.
“The potential income level compares favourably with the low conventional deposit rates offered on the UK high street and we expect a strong take-up.”
The deposit taker is RBS Bank and the closing date is 8 March 2013.
Gilliat Financial Solutions specialises in the design and distribution of structured products for retail and professional investors.
