Gilliat issues FTSE 100 Income Builder

The six year plan offers a potential annual income of 7% as long as the index remains above 60% of its starting value. The income payment will reduce in proportion to the number of times the index is below the barrier. On maturity, if the end value of the FTSE 100 is 40% or more below its start value, then investors' capital will reduce by 1% for every 1% that the index closes below the start value. Royal Bank of Scotland serves as the counterparty for the plan. Gilliat managing director Adrian Neave says: "The Income Builder has proved popular with investors. The FTSE 100 Index is...