HSBC Isa provides rising income levels

HSBC Bank is to re-enter the structured product market with a bond that offers rising income over a ...

HSBC Bank is to re-enter the structured product market with a bond that offers rising income over a five year period. The bond, called Fixed Income 7, will be available through an Isa although exact details of the nature of the wrapper are yet to be confirmed. Income, which will be paid out in the form of quarterly dividends, will start as just below 5% pa rising to just under 8.25% in the final year of the product's life. The level of income will remain constant for four quarters before rising, and although the product is linked to the performance of the FTSE 100, the income rises are ...