Product retrospective: Perfect for pensioners

Protection of capital is one of the most desirable outcomes of an investment in a structured product, but it comes at a price, not least a frequent inability to take full advantage of the continued increase in the value of the chosen underlying

This capital-protected six-year plan offers a fixed return of 6% for each year that the FTSE 100 is equal to or above the strike level.

If on any of the six annual observation dates the index is equal to or higher than its initial level, investors receive an annual bonus of 6%. If the index is below the initial level on the observation dates, investors receive no bonus payment for that year. The capital protection means investors receive full return of capital at maturity regardless of index