International financial services group, Barclays Private Clients is now offering its High Interest Index Linked Deposit Account (HIILDA 4) in the Middle East. The account presents a combination of high interest and capital growth without initial capital risk.
“This is the fourth edition of HILDA, which continues to increase in its popularity having previously received over £250 million ($398 million) in deposits across the first three issues,” said Head of International Premier & Personal Middle East & Eastern Mediterranean, Barclays Private Clients, Robert Clark.
“With the uncertainty of the stock market and low interest rates at current times and with no downside in terms of capital, the HILDA 4 provides a combination of good interest and potential capital returns, that should prove popular with our international clients, he added”
The account is available in two sections - 50 percent will be invested in a high interest deposit account for 12 months, which guarantees a fixed return of five percent GROSS/AER over the term. The interest will be paid at the end of the investment term.
The remaining 50 percent will be invested in an equally weighted basket of four stock market indices which will track the FTSE 100, Standard & Poor 500, Dow Jones Eurostoxx50 and Nikkei 225.
The cash element will be invested from February 10, 2003 to February 10, 2004. The stock market element will be invested from February 10, 2003 to February 8, 2008. Although customers can access the cash element of the investment at any time, the indices investment has to remain invested for the full five-year term. The return after five years is based on the average of the performance of each index.
International clients, whether new or existing Barclays customers, can invest a minimum of $15,000 or $1.5 million. Customers who invest between November 25, 2002 and January 24, 2003 will receive interest at a rate one tier above the level they would normally receive on an equivalent amount placed in a Barclays one month Fixed Rate Savings Account.
A sterling version of HILDA 4 is also available. It offers a seven percent GROSS/AER on 40 percent on the investment for one year and 60 percent of any uplift in the performance of the FTSE100 over a five-year term on the remaining 60 percent. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
