FTSE 100 exposure for HSBC Isa

HSBC is launching a sixth edition of its fixed income Isa, based on the FTSE 100, offering the equiv...

HSBC is launching a sixth edition of its fixed income Isa, based on the FTSE 100, offering the equivalent of 7.5% gross annual returns over a five-year period, writes Robert Stock. Income on the product can be taken quarterly or there is a lump sum payment at the end of the product's lifetime. The quarterly return is paid at a gross rate of 1.082% and the lump sum is a single gross payment of 42% on the 22 July 2005 when the company is formally closed. The product, which is an addition to HSBC's Dublin range of products, carries 3% IFA commission but no renewal. The offer period is open u...