02 July 2010

New Structured Product from Standard Bank

Standard Bank Offshore Group is launching the latest in its series of award winning structured products which are designed to return initial capital deposited along with fixed interest returns and participation in potential stock market growth.

Quantum PLUS 3 is open for subscription until 17 August 2010, subject to availability, and is divided into a 1 year and 5 year fixed term Standard Bank deposit, available in Sterling, US dollar or Euro. Minimum deposit amounts are £10,000, $20,000 or €15,000.

The product divides a client’s money equally between two deposits: Quantum and PLUS, and both deposits are designed to return original capital deposited, along with the potential gains at their respective maturity dates.

The Quantum portion pays an attractive rate of 4% (AER) and is redeemed in full after the first year. The PLUS portion is linked to potential stock market growth over the full five year term with a participation rate of 70%.

Herman Wessels, Managing Director, Treasury & Product commented: “Our structured products are designed for depositors who seek capital security and growth potential linked to the performance of a stock market index. Quantum PLUS 3 has been introduced following the success of Quantum PLUS II which was launched earlier this year. It offers returns linked to the performance of equity investments, but without the usual risk of volatile market movements and as with Quantum PLUS II we expect to see high demand for this competitive offering.

He added: “Given the current economic and political uncertainty, now is an ideal time to commit to a product which provides peace of mind along with the opportunity to take advantage of continued stock market recovery. For clients who wish to access a product which has been designed to return at least the capital deposited in full at maturity, Quantum PLUS 3 offers a combination of potential market-related returns and a high yield on the Quantum portion.

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