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Key Dates | |
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Plan Closes: 24 July 2009 |
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| Download Terms & Conditions |
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| Download Base Prospectus |
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| Download Application | Order literature by post | |
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Plan Summary
The Accelerated Growth Plan is an investment offering the potential to benefit from growth in the Index or early return of Capital together with a Redemption Bonus. The Plan pays no income during the Investment Term. Instead, it offers the potential for return of Capital together with a Redemption Bonus of 10% if on the Early Redemption Date, 1st August 2011, the Index Level is at or above the Initial Index Level. If there is no Early Redemption, then the Plan offers the potential to benefit from growth in the Index during the Investment Term. If, at the Investment End Date, 30th July 2013, the Index Level is higher than the Initial Index Level, then the Plan will return the original Capital and pay a Growth Bonus of 1.85 times the percentage difference between the Initial Index Level and Final Index Level. Capital is at risk, subject to Index Level and financial strength of the Issuer Capital may be reduced at Maturity if the Plan has not already redeemed and the Index closes at or below 50% of the Initial Index Level on any trading day during the Investment Term, and is still below the Initial Index Level on the Investment End Date. Return of your Capital is also dependent on the financial strength of the Issuer - if the Issuer becomes bankrupt before the Maturity Date, you will lose most or all of your Capital, and may not be able to claim under the Financial Services Compensation Scheme. Returns treated as capital gains The returns are expected to be treated as capital gains, and subject to Capital Gains Tax, under current tax legislation. See the section titled “Taxation” on page 15 of the plan details for further details. Your money is invested in securities of the Issuer, not directly in the Index The Accelerated Growth Plan will invest in warrants of the Issuer, which are listed on the Luxembourg Stock Exchange. As the Issuer is part of a group of companies, your investment in is a form of loan from you as an investor to a single financial institution, Bank of America. The Plan does not invest directly in the shares that make up the Index. This means you will not receive dividends from the shares in the Index, and the return of your Capital depends on the financial strength of the Issuer as well as on the performance of the Index. Your investment is not covered by any guarantee scheme Compensation arrangements under the Financial Services Compensation Scheme are limited to paying claims (for a limited amount only) to cover losses you may incur if you are missold the Plan by your financial adviser or the Plan Manager, or in the case of a loss due to the bankruptcy, fraud or administrative error of the Plan Manager. See page 17 of the plan terms for details. |
