Halifax links to FTSE 100 and Bank of England base rate

Halifax has targeted fee-based independent financial advisers in the UK with a FTSE 100-based product that pays a minimum coupon of 5.5% per annum plus the Bank of England base rate

This is a five-year income product linked to the FTSE 100 Index and the Bank of England (BoE) base rate that offers a quarterly income equivalent to the official BoE base rate plus 5.5% per annum gross. The income payments are made regardless of the performance of the FTSE 100 or the level of the base rate, but capital is at risk if the final level of the index is more than 50% lower than its initial level (observed on the final reading date). For the product to pay the minimum coupon of 5.5%