Meteor FTSE/S&P Quarterly Contingent Income Plan March 2021
The Meteor FTSE/S&P Quarterly Contingent Income Plan March 2021 is a maximum eight year three week investment. It is a capital at risk plan linked to the FTSE 100 Index and S&P 500 Index with the potential to provide a gross income of 1.75% per quarter. This plan is only available on an Advised basis.
The closing date for ISA transfer applications is 8 March 2021.
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?
Please note: This plan is available on an advised basis only. If you are interested in this plan, please telephone us on 01639 860111 to arrange a free consultation
1 Call for a free initial telephone consultation. If you wish to progress the process of the product purchase, the regulatory process of ‘advice’ must commence.
2 The completion of a financial review – which will confirm details of your income/capital and investment needs and experience
3 The completion of a risk profiler - which will help to measure your attitude to risk.
This process will enable ‘advice’ to be provided in relation to the suitability of the product to meet with your needs. The fee for this service and process is 1.5% (subject to a minimum fee of £300) for focused advice – which is focused and narrowed to the suitability of the structured product you want to purchase.
The Meteor FTSE/S&P Quarterly Contingent Income Plan March 2021 is a maximum eight year three week investment. It is a capital at risk plan linked to the FTSE 100 Index and S&P 500 Index with the potential to provide a gross income of 1.75% per quarter.
It is a capital at risk investment and you will lose money if the Final Level of the lower performing Index is below 65% of its Opening Level. The amount of your money that you would lose will be the percentage by which the Final Level of that Index is below its Opening Level. In extreme circumstances you could lose all of your money. If the Final Level of the lower performing Index is at least equal to 65% of its Opening Level you will get back the amount you invested.
Income: If the Closing Levels of both Indices on any Quarterly Measurement Date are at least equal to 85% of their respective Opening Levels, the Plan will pay a gross income of 1.75% for that quarter. No income will be payable for a quarter if the Closing Level of one, or both, Indices is below 85% of its Opening Level on the Quarterly Measurement Date.
The first Quarterly Measurement Date will be on 28 June 2021, three months after the Start Date. Thereafter, the performance of the Indices will be measured quarterly. If the kick-out condition is met (see below), income will be paid in respect of that quarter and the Plan will mature early. No further income payments will then be payable.
Kick-out condition: From year 1, the Plan will kick-out, i.e. mature early, if the Closing Level of both Indices are at least 5% above their Opening Levels on any Quarterly Measurement Date. In this event you would receive a full return of your money, as well as the income due for that quarter. The first Quarterly Measurement Date on which an early maturity could be triggered will be on 28 March 2022, one year after the Start Date.
It is Meteor's understanding that any income payments from a direct investment by individuals or Trusts into this Plan is expected to be subject to Income Tax.
The Securities purchased will be Notes issued by Credit Agricole CIB Financial Solutions and guaranteed by Credit Agricole CIB. The Securities can be viewed in a similar way to a loan to the Issuer and are linked to the performance of Preference Shares issued by Broadwalk Investments Limited, which is in turn linked to the performance of the Indices
If you wish to receive regular communications in the post Meteor will do so and there will be an initial charge of 0.25% for this service.
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: