Anglo Irish shelves protected bond plan

Anglo Irish has scrapped plans to launch a multi-asset class protected bond on the grounds that the company could not get competitive pricing for the underlying derivatives. Instead, the company has launched a similar but far simpler product based on the average returns of four disparate indices. The original product comprised four options, hooking into UK equities, UK property, dollar vs sterling and gold. Every year the top performing option was exercised. The large number of possible combinations made predicting the performance of the product difficult. The new bond, the Privilege Mul...