Meteor banks on property market recovery

Meteor has launched a second kick-out plan banking on rises in the European commercial property market. It is linked to the performance of the FTSE European Public Real Estate Association Europe Index, which offers exposure to the publicly traded real estate sector in Europe.

The Property Recovery Plan 2 will mature after one year provided that the index is at or above its starting level, paying a 10.5% coupon. If it is below its starting level, the product continues into year two, offering a 21% coupon if it matures on its second anniversary under the same conditions. Subsequent payouts if conditions are still not met are: 31.5% in year three, 42% in year four, 52.5% in year five and 63% in year six, which is its final year. If the index has still not reached its