UK Wrap: Cater Allen lone presence with double digit headline rate

Cater Allen Private Bank was the only issuer with a product in the UK market last week, offering a headline rate of 37% for its FTSE-linked product. The plan comes with two maturity options - either three and three quarter years or five-and-a-half years. The latter offers the 37% coupon at maturity if the FTSE 100 is at or above its initial index level.

The shorter maturity version will pay 18% under the same conditions. Both are 100% capital protected at maturity and use final index averaging over the last six months of the investment to protect against market falls. The counterparty is Abbey National Treasury Services.

Issuer

Product

Underlying

Maturity date

Cater Allen Private Bank

Capital Guaranteed Defined Return Plan 2 3.75 year

FTSE-100

16/03/2015

Cater Allen Private Bank

Capital Guaranteed Defined Return Plan 2