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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.

Please Note: This product closed for investment on 24/01/2024

UK Fixed Monthly Income Plan January 2024

MB Structured Investments UK Fixed Monthly Income Plan January 2024

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Overview:

A monthly income of 0.485% gross will be paid throughout the investment term, regardless of the movement in the FTSE 100 Index. The plan will terminate early from the second anniversary onwards, if the closing level of the FTSE 100 Index closes at or above its Initial Index Level on any annual observation date. This plan has closed early due to oversubscription.

Product Type:

Capital at Risk

Investment Type:

Income

Product Index Link:

FTSE 100 Index

Potential FSCS Protection:

No

Capital at Risk Barrier Type:

End of Term only

Maximum Term:

4 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
24/01/2024 10/01/2024 26/01/2024 09/02/2028
Closing Date
24/01/2024
ISA Transfers
10/01/2024
Strike Date
26/01/2024
Maturity Date
09/02/2028

Possible Early Maturity Dates:

26/01/2026 26/01/2027

Counterparty:

Barclays Bank Plc

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.

A+
A+

S&P Rating*

D R CC - CCC + - B + - BB + - BBB + - A + - AA + AAA
A+
A+

Fitch Rating*

D RD C CC CCC - B + - BB + - BBB + - A + - AA + AAA
A1
A1

Moody's Rating*

C Ca Caa B Ba Baa A Aa Aaa
3 2 1 3 2 1 3 2 1 3 2 1 3 2 1 3 2 1

Description

This maximum four-year and three-week structured investment will generate gross monthly income payments of 0.485%, irrespective of the performance of the FTSE 100 Index.

The plan will terminate early if on any annual observation date from the second anniversary onwards if the closing level of the FTSE 100 Index closes at or above its Initial Index Level, in which case investors' original capital will be returned in full in addition to 0.485% income in respect of that month.

If the Final Index Level is more than 35% below its Initial Index Level, then investors will suffer a reduction to their invested capital equal to the percentage the Final Index Level is below its Initial Index Level.

Please note an additional 0.25% charge will apply to this product if you require paper-based correspondance, rather than online communications from MB Structured Investments. Lowes will not charge an ongoing fee or receive any annual commission in respect of this investment. Our fee for acting as intermediary for this investment, processed by CompareStructuredProducts.com and where no advice has been sought or given is 1.65% of the amount invested. For investments over £100,000 please contact us for preferential fees.

Contract Details

Initial Index Level:

The closing level of the index on 26 January 2024.

Final Index Level:

The closing level of the index on 26 January 2028.

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 income payments will be paid gross and subject to UK income tax at the investor's highest marginal rate.

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 Final Index Level is no more than 35% below its Initial Index Level, investors' capital should be returned in full. However, if the Final Index Level is more than 35% below its initial level, investors will suffer a reduction to their invested capital of 1% for every 1% the Final Index Level is below its respective Initial Index Level.

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: A maximum of 1.10% of the investment.

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

Other Charges: A further initial charge of 0.25% will be levied for paper applications that request on-going paper based correspondence.

Summary Table

Income

Event Outcome
Barclays Bank Plc default = All payments will cease.
If not
Regardless of the movement in the FTSE 100 Index = Monthly income of 0.485% gross is paid throughout the term, unless an early maturity occurs

Income

Event Outcome
Barclays Bank Plc default = Return of any capital subject to insolvency proceedings - potential total loss
If not
If on any annual measurement date from year two onwards the closing level of the FTSE 100 Index is equal to or above it's Initial Index Level = Return of invested capital in addition to the income due for that month
If not
If at the end of the term the FTSE 100 Index is no more than 35% below its Initial Index Level = Return of invested capital in addition to income outlined above
If not
As the FTSE 100 Index is more than 35% lower = Invested capital is reduced in line with the fall in the index at maturity on a 1% for 1% basis

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:

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Risks

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 Callback Request for advice.

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Information

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