First offshore structured deposit from Gilliat launched

The Memory Interest Deposit – March 2013 is linked to the performance of six FTSE 100 shares - Barclays, Rio Tinto, Unilever, National Grid, AstraZeneca and Tesco. Aimed solely at the offshore market, the product offers a potential 6% per annum and pays out each year that the underlyings are above their strike levels. If any of the underlyings are below their strike level, rather than that year’s coupon being lost, it is rolled over to the next year. Commenting on the launch, Adrian Neave, managing director of Gilliat Financial Solutions, said: "The market for deposit based products...