Barclays, an international financial services group has launched in the Gulf a 12 percent guaranteed stock market bond which is available to all Gulf residents from the company's offices in Dubai, Khaleej Times reported Wednesday.
According to a press release from the company, the bond is split into two sections. Up to 40 percent can be invested in cash offering a 12 percent return over 18 months, with the interest to be paid at the end of the investment term.
Between 60 and 100 percent can be invested in a stock market bond which tracks either the FTSE 100 or Dow Jones Global Titans, depending on whether the bond is taken out in sterling or dollars. Initial capital investment is guaranteed, whilst investors will have 50 percent of any growth in the chosen index.
The cash element will be invested from May 22 to November 22 next year, while the stock market element will be invested from May 22 to May 24, 2005, the press release said.
Although customers can access the cash part of the investment at anytime, the stock market investment has to remain invested for the full four-year term.
The minimum investment in the bond is $15,000, while the maximum is $1.5 million, the release added – Albawaba.com
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