Pinnacle launches a second tranche of structured bond

structured products

Pinnacle Insurance has launched a second tranche of its Twenty-First Century Investor's Bond, a six-...

Pinnacle Insurance has launched a second tranche of its Twenty-First Century Investor's Bond, a six-year structured product linked to performance of the FTSE 100. The product allows index growth of 25% to be locked in after three years if the index is 25% or more above its starting value at the third anniversary on 18 December 2006. If the lock-in is triggered, the minimum return at maturity is 125% of the original investment. If the lock-in is not triggered, investors receive 100% of the growth in the index over the six-year term, averaged over the final 12 months. The growth in the FTS...