Irish Permanent has developed a new two-year tracker bond. The Global Equity Bond II is designed for investors who want potential stock market returns while reducing their risk.

Investors have the potential to earn 22 per cent growth with 90 per cent capital security.

The investment is linked to the performances of the S&P 500 in the US, the Nikkei 225 in Japan and the Eurostoxx 50 in Europe.

Charges are built into the product. The minimum investment is £2,000 and the closing date is July 17th.