Merchant launches FTSE 100 kick out plan

From year two, on each anniversary date the six-year plan offers a growth payment of 8.55% and early redemption if the FTSE 100 is equal to or greater than its starting level. If the index is not at this level, the plan continues. The maximum payout is 51.3%. Capital is at risk if the daily closing level of the index falls 50% or more below its initial level during the investment term, and fails to recover to its initial level at the end of the term. Barclays Bank serves as counterparty for the plan. The plan is open for investment until 23 April 2010, set at a minimum of £3,000. ...