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All investment involves risk and you could lose some or all of the money you invest.
The information given in this product review has been taken from the product terms and conditions, brochure, and other literature available from the product provider. No guarantee can be made to the accuracy of the information. You should therefore satisfy yourself as to the full terms and risks of any investment by reference to the relevant materials provided by the product provider. Please request these documents using the buttons on the left of the page.
Potential for maturity and a 7.15% gain for each year held, payable on any anniversary from year two onwards provided the S&P 500 Index is at, or above, a reducing Reference Level.
Product Type:
Capital at Risk
Investment Type:
Auto-Call / Kick-Out
Product Index Link:
S&P 500 Index
Potential FSCS Protection:
No
Capital at Risk Barrier Type:
End of Term only
Maximum Term:
6 years 3 weeks max.
Barrier Level:
65% of Initial Index Level.
Downside:
1:1
Capital At Risk Barrier:
(Subject To Counterparty Solvency)
65% of Initial Index Level, observed at the end of the term.
Initial (Strike) Index Level >>
Important Dates:
Closing Date *
ISA Transfers
Strike Date
Maturity Date
29/04/2025
11/04/2025
01/05/2025
16/05/2031
Closing Date *
29/04/2025
ISA Transfers
11/04/2025
Strike Date
01/05/2025
Maturity Date
16/05/2031
Possible Early Maturity Dates:
03/05/2027
01/05/2028
01/05/2029
01/05/2030
* The provider reserves the right to close the product/fund early.
Counterparty:
Canadian Imperial Bank of Commerce
Please Note: The investment returns and the return of capital are dependent upon the counterparty meeting their obligations on time and in full. If the counterparty fails to meet their obligations you could lose some or all of your capital.
The credit ratings provided below can be a useful way to compare the credit risk associated with different Counterparties or Deposit Takers. Credit ratings are assigned by independent companies known as ratings agencies.
This maximum six-year and three-week plan features the potential to mature on any of the plan's anniversaries from year two onwards, returning the capital investment in full, plus a 7.15% gain for each year the plan has been in force. The plan will mature early in the event that the S&P 500 Index closes at, or above a reducing Reference Level. The Reference Level in year two is 100% of the Initial Index Level, 95% in year three, 90% in year four, 85% in year five, and finally 80% in year six.
If the plan fails to mature early and the Final Index Level is more than 20% below the Initial Index Level, no gain will be achieved; however, investors' capital should still be returned in full, unless the Final Index Level is more than 35% below the Initial Index Level. If such a fall does occur, the invested capital will be reduced by 1% for every 1% the Final Index Level is below the Initial Index Level. For example, if the plan fails to mature early and the Final Index Level is 40% below the Initial Index Level, investors will suffer a 40% reduction to their invested capital.
Lowes will not charge an ongoing fee or receive any annual commission in respect of this investment.
Contract Details
Initial Index Level:
The closing level of the Index on 1 May 2025.
Final Index Level:
The closing level of the Index on 1 May 2031.
Cash ISA
Equity ISA
Direct
ISA Transfer
SIPP **
Availability
Minimum Contribution*
N/A
£5,000
£5,000
£5,000
£5,000
*Note that minimum contributions exclude any applicable adviser charges
**The investment may also be available through third party SIPP Providers
Tax Treatment if held outside Tax Shelter:
The product literature states that under current legislation any growth achieved by this investment at redemption, where held outside of a tax wrapper, will be subject to Capital Gains Tax rules applicable at that time.
Please note, tax rules and legislation are subject to change at any time.
Capital At Risk Barrier (Subject To Counterparty Solvency)
Barrier Level: 65% of Initial Index Level.
Downside: 1:1
Capital at Risk Barrier Type: End of Term only
If the investment fails to produce a gain, it still aims to return investors' capital in full at maturity, unless the Final Index Level is more than 35% below the Initial Index Level. If such a stock market fall occurs, investors' capital will be reduced in line with the percentage fall in the Index.
Charges
Unless stated otherwise charges do not affect the amount being invested as they have been taken into account in the terms of the investment. So, for every £100 invested, the return, provided the investment is held until maturity, should be £100, plus or minus the gain or loss in accordance with the defined terms. Separate fees may be payable to your adviser, platform or stockbroker for arranging this investment.
The total charges incorporated in the terms of the investment: Approximately 1.95%.
Note that prior to 1 June 2024 this figure in our database was provider charge only
If surrendered early, the value will be dependent on a number of factors and may be less than the original amount invested.
In the event of early surrender the provider may levy an administration fee which will be deducted from the surrender proceeds as follows:
Early Surrender: £100 + VAT
Early ISA Transfer: £100 + VAT
Summary Table
Event
Outcome
Canadian Imperial Bank of Commerce default
=
Return of any capital subject to insolvency proceedings - potential total loss
If not
If on any annual observation date from year two onwards the S&P 500 Index closes at or above a reducing reference level (see description)
=
Return of invested capital plus a 7.15% gain for each year the plan has been in force
If not
If at the end of the term the Index is between 20% and 35% lower
=
Return of invested capital only
If not
As the Index is more than 35% lower
=
Invested capital is reduced in line with the fall in the Index
Fees
Where no advice has been sought or given, our fee for acting as intermediary for this investment is 1.65% of the amount invested, capped at £2,000. For example, on an investment of £25,000 our fee would be £412.50 and for an investment of £125,000 it would be £2,000.
Fee Calculator:
Please enter the value of your investment below to calculate the fee payable.
All investment involves risk and you could lose some or all of the money you invest.
It is imperative that you read the plan brochure and terms and conditions and understand all of the risks involved, which are outlined on page 10 and 11 of the brochure, prior to proceeding. If you do not fully understand the risks, the commitment or you are unsure as to the suitability of the investment for you, you should not proceed but instead contact us via E-mail or
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Please read the plan literature carefully, paying particular attention to all risk warnings, to satisfy yourself that the investment is right for you. Like most investments, this type of plan puts your capital at risk and could result in you losing some, or, in extreme circumstances, such as the counterparty becoming insolvent, all of the money you invest. Such plans are designed for advised investors but this investment may be suitable for you if you understand and accept the risks to capital involved and are investing as part of a balanced and diversified portfolio.
If you choose to invest without a personal recommendation, the investment will be processed on a "Direct Offer" basis i.e. no advice having been sought or given. As a Financial Adviser will not have conducted a review of your financial affairs, we will not be in a position to assess the suitability of the investment for you. As a consequence, we cannot be held responsible or liable if you proceed and you subsequently feel that the investment is not suitable.
Lowes will not charge an ongoing fee or receive any annual commission in respect of this investment. Where no advice has been sought or given, our fee for acting as intermediary for this investment is 1.65% of the amount invested, capped at £2,000. For example, on an investment of £25,000 our fee would be £412.50 and for an investment of £125,000 it would be £2,000.
We will use the information you have provided only to contact you in accordance to terms of this contact form and our privacy policy. We will not use your information for any other purposes as specified by this form unless legally necessary in the course of business. For more information view our Privacy Policy.
