Hilbert FTSE 100 EW45 Conditional Memory Autocall Plan Issue 26 - November 2024
The Hilbert FTSE 100 EW45 Conditional Memory Autocall Plan Issue 26 - November 2024 is a capital at risk plan with an investment term up to 10 years offering an income potential of 1.95% per quarter (7.80% p.a.) (with memory feature to regain any missed income payments).
- Market / index link: FTSE 100 EW45
- Counterparty: Citigroup Global Markets Ltd
- Investment term: 10 years
- Kick-out / Early maturity: Yes
- Barrier type: End of Term
- Barrier level: 50%
The closing date for ISA transfer applications is 22 November 2024.
Product Literature & Forms
You should always read the relevant plan brochure and any other plan documentation, for full details of the plan’s features, including any risks, and the terms and conditions. In addition to the plan brochure and terms and conditions there are other important documents, including a Key Information Document ('KID'), that you should consider, before deciding to invest in the plan.
If you do not fully understand the risks or are unsure as to the suitability of the investment, please contact us
How to Invest?
Applications for the Plan must be submitted via Best Price Financial Services and received by 5pm on 28 November 2024 for bank transfer applications.
The closing date for applications by cheque is 26 November 2024
The closing date for ISA transfer applications is 22 November 2024.
This will enable us to process your application and forward it on to the structured product provider.
1 Firstly, print off and complete our Appropriate Assessment Questionnaire. All applications require two proofs of identity - see the questionnaire for more information.
2 Next download, print and complete the application form available. Note that product applications will have multiple documents, so please choose the one relevant to you.
3 Place all completed documents - questionnaire, proofs of identity, application form and cheques for payment - in an envelope and post to:
Best Price Financial Services,The Tythe Barn, 5 Eglwys Nunnydd,
Margam, Neath Port Talbot
SA13 2PS
Further Information
The Hilbert FTSE 100 EW45 Conditional Memory Autocall Plan Issue 26 - November 2024 is a capital at risk plan with an investment term up to 10 years offering an income potential of 1.95% per quarter (7.80% p.a.) (with memory feature to regain any missed income payments).
Potential Income: You will receive an income payment of 1.95% for each Quarterly Measurement Date that the Closing Level of the Underlying Asset is at or above 80% of the Opening Level. The income is paid gross. If the closing level of the Underlying Asset is below 80% of the Opening Level on a Quarterly Measurement Date, no income will be paid for that quarter. However, the memory feature means that any missed income payments are carried forward to future Quarterly Observation Dates when they may be paid together with the income payment due for that quarter.
Early Maturity: The Plan has a maximum investment term of 10 years. However, the Plan can mature early from the second anniversary, if certain criteria are met. The Plan will mature early if the Closing Level of the Underlying Asset is at or above 95% of the Opening Level on any Quarterly Measurement Date from the second anniversary. If this happens, you will receive the income payment for that quarter and the repayment of your original investment in full (less any agreed fees or withdrawals).
Repayment of your investment if no Early Maturity: If the early maturity feature is not triggered during the Investment Term, because the level of the Underlying Asset is below the relevant Reference Level on all Quarterly Measurement Dates and on the Final Valuation Date, if the Final Level of the Underlying Asset is at or above 50% of the Opening Level you will be repaid your original investment in full (less any agreed adviser fees and withdrawals).
However, if the Final Level of the Underlying Asset is more than 50% below the Opening Level, the amount of money repaid will be reduced by the amount that the Underlying Asset has fallen since the Start Date.
For example, if the Underlying Asset has fallen by 75%, the repayment of money invested will be reduced by 75% (meaning that you will get 25% of your original investment back – less any agreed adviser fees and withdrawals).
Investment Deadlines:
If you are transferring an existing ISA: 22 November 2024
If you are paying by cheque: 26 November 2024
If you are paying by bank transfer: 28 November 2024
As with all forms of investment there are risks involved. These plans do not guarantee to repay the money invested. The potential returns of the plans and repaying the money invested are linked to the level of the stock market and also depend on the financial stability of the Issuer and Counterparty.
Past performance is not a guide to future performance and may not be repeated. Investment involves risk. The performance data does not take account of the commissions and costs incurred on the issue and redemption of shares. The value of investments and the income from them may go down as well as up and investors may not get back any of the amount originally invested. Because of this, an investor is not certain to make a profit on an investment and may lose money. Exchange rate changes may cause the value of overseas investments to rise or fall.
The promotion of the plans does not constitute ‘advice’ to invest. Advice is always specific to an individual investor’s circumstances and needs, following the process of ‘know your customer’, with the aim of ensuring that any product is suitable for an investor.
As always, the recommendation and common sense approach is to consider product solutions as a portfolio, never over-exposing oneself to a point of financial pain and suffering liquidity or counterparty over exposure.
Don’t forget the risks
All investments carry risk. It is identifying those risks, understanding how they may affect an investment and assessing whether an investment is suitable for your circumstances that is important.
The potential returns of most structured products and repaying the money invested are usually linked to the level of a stock market index and also depend on the financial stability of the issuer and counterparty bank. You should only consider investing if you understand and accept the risk of losing some or all of any money invested.
You should always read the relevant plan brochure and any other plan documentation, for full details of a plan’s features, including any risks, and the terms and conditions. In addition to the plan brochure and terms and conditions there are other important documents, including a Key Information Document (‘KID’), that you should consider, before deciding to invest in a plan.
Structured products should only be considered as part of a diversified and balanced portfolio.
Below is a summary of some of the main risks usually associated with an investment in structured products plans:
Market risk to potential returns
Whether or not a plan generates the potential returns for investors usually depends on the closing level of the relevant index on the relevant dates for the plan, i.e. the kick-out anniversary dates for kick-out products; the early maturity dates and end dates for growth products; the annual income dates for income products.
If the index closes below the level needed, for the plan or plan options chosen, on all of the relevant dates, the plan or plan options will not generate a return.
Market risk to repayment of money invested in 'Capital-at-Risk' plans
If the closing level of the relevant index is below the level needed on all of the kick-out anniversary dates or early maturity dates, if relevant for the plan or plan options chosen, and on the end date, repaying the money invested at maturity will usually depend on the closing level of the index on the end date..
Different structured products use different types of protection barriers. Some products use barriers that are observed every day that can therefore be breached on any day during the investment term, while some products use barriers that are only observed at the end of the investment term and that cannot therefore be breached during the investment term.
Market risk to the repayment of money invested on the end date will depend on the type of barrier and its level.
For example, for a product with an end of term barrier, set at 60% of the start level, if the index for the plan closes at or above 60% of the start level, on the end date, money invested will be repaid in full (less any agreed adviser fees and withdrawals). However, if on the end date the index closes below 60% of the start level, the amount of money repaid (less any agreed adviser fees and withdrawals) will be reduced by the amount that the index has fallen. For example, if the index has fallen by 45%, the repayment of money invested will be reduced by 45% (meaning that investors will get 55% of their investment back).
'Protected' types of structured products
Some structured product plans are designed so that they are 100% protected from stock market risk at the end date.
It is important to understand that even if a structured product plan is designed with 100% protection from stock market risk, at the end date, it will still usually have issuer and counterparty bank risk. In other words, both the potential returns of the plan and repaying the money invested at the end date will depend on the financial stability of the issuer and counterparty bank. If the issuer and counterparty bank become insolvent, or similar, or fail to be able to meet their obligations, it is likely that investors will receive back less than they invested.
Issuer and counterparty bank risk
Both the potential returns and repaying the money invested of most structured products depend on the financial stability of the issuer and counterparty bank. If the issuer and counterparty bank become insolvent, or similar, or fail to be able to meet their obligations, it is likely that investors will receive back less than they invested.
Financial Services Compensation Scheme ('FSCS') protection
It is important to understand that it is not usually possible to claim under the Financial Services Compensation Scheme if the issuer and counterparty bank fail to meet their obligations or if the stock market index that a plan links to falls.
Structured deposits
Structured deposit plans are deposit-based and will usually be fully protected from stock market risk at the end date and also benefit from the protection of the Financial Services Compensation Scheme, if the bank or building society is a licensed UK deposit taker.