Norwich Union has entered the guaranteed bond market with the introduction of Prosper, its new four-year guaranteed capital bond.
Norwich Union has entered the guaranteed bond market with the introduction of Prosper, its new four-year guaranteed capital bond.
The launch of Prosper signifies a new market offering for Norwich Union and is the company’s first entry into the guaranteed bond market since the merger of Norwich Union and CGU. Offering a guaranteed return of the original investment and growth linked to the FTSE-100, the four-year guaranteed capital bond is available from 28 January 2002.
The closing date for investment is 1 March with the four-year term starting on March 5. Early investors will benefit from an extra bonus of 0.35 per cent if they invest before 11 February 2002, or 0.15 per cent if invested between 11 February and 1 March 2002.
The performance of the bond is measured over six month periods throughout the four-year term. In each period any rise or fall in the FTSE-100 of up to 6.5 per cent will be reflected in Prosper’s performance, allowing investors the opportunity to achieve a good return, whilst the guarantee safeguards their original investment at the end of the term.
Neil Davies, proposition manager (investments) at Norwich Union says: “Prosper is available for a limited period only and offers investors strong growth potential which is linked to the performance of the UK stockmarket over four years. Significantly, Prosper gives the investor the valuable assurance that there is a cast iron money back guarantee at maturity. So, no matter what happens, investors know that their initial investment is completely secure at the end of the four-year period.
“Prosper really does present an ideal opportunity for people who want to invest in the stockmarket without putting their capital at risk. They also have the confidence of knowing that Prosper is backed by Norwich Union, the UK’s largest insurer.”
For more information on Prosper, please contact Norwich Union on 01904 452634 or visit the Norwich Union website at www.norwichunion.com/ifa
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Press office contacts
James Evans, Norwich Union 08703 66 68 78
Out of hours 07790 487105
Louise Goffee, Norwich Union 08703 66 68 70
Out of hours 07810 057362
Notes to editors
- THE VALUE OF YOUR INVESTMENT CAN GO DOWN AS WELL AS UP AND IS NOT GUARANTEED, APART ROM THE GUARANTEE APPLYING AT MATURITY.
- FTSE-100 is a trade mark of FTSE International Limited. FTSE International Limited does not sponsor the Prosper Guaranteed Bond.
- Norwich Union is the UK’s largest insurer. It is the UK’s largest provider of life, pensions and investment products and one of the leading IFA providers. IFAs provide around 75% of the company’s long-term savings business.
- Norwich Union has strategic alliances with over 20 building societies and other leading UK brand names including Tesco Personal Finance Limited and The Royal Bank of Scotland Group.
- Norwich Union’s news releases are available on this internet site
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