Ulster Bank is to introduce a second series of its popular Global Tracker Deposit Bond due to strong demand for its first series, which attracted more than £27 million (34 million) of funds during June and July 2001.
Like the first series, series two is available to personal and business customers, as well as charities and religious bodies, and returns are linked to the performance of a number of stock market indices, including the British FTSE 100 and Europe EuroStoxx 50.
The interest payable is 70 per cent of the performance of each of the stock market indices over a fixed three-and-a-half year term, with the maximum gain of each index capped at 50 per cent.
This gives a maximum potential return of 35 per cent gross (8.95 per cent compound annual rate).
Irrespective of stock market performance, 100 per cent of each investment is fully secure at maturity. The closing date for investments is September 14th, 2001, or earlier if fully subscribed.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)