A 5 year investment linked to the performance of the FTSE 100 index.
The investment is designed to deliver gains if the index moves either up or down as long as the Protection Barrier is not breached on the Final Observation Date.
If, at maturity, the index is above its initial level, capital will be returned plus 160% participation in the growth. This means that for every 1.0% the index rises, 1.6% will be paid.
If, at maturity, the index is below its initial level and above the 65% Protection Barrier, capital will be returned plus 1% for each 1% the index is down.
If, at maturity, the index is below 65% of its initial level, capital return will be reduced on a 1-for-1 basis. For example if the index has fallen to 40% of its original level, 40% of the capital will be returned with no coupon.