Product review: Dunbar Bank's FTSE 100 basket

The unrated Dunbar Bank is offering UK investors a five-year, capital-protected growth product linked to 15 of the largest companies in the FTSE 100. A minimum return is on offer and growth can be locked in at each annual anniversaries

This product offers three distinct ways to achieve returns: the minimum return payment at maturity of 5% (equivalent to 0.98% per annum); the growth payment at maturity which is dependent on the annual observations of 15 stocks; and the additional payment of 20% at maturity if all the stocks are above their initial level. The minimum return is not dependent on the performance of the underlying stocks however the other two potential payments are.

The initial level of each of the stocks is taken at