ING unveils principal protected oil-linked fund in Thailand

ING is launching a new principal protected fund in Thailand, linked to the performance of the Nymex WTI Crude Oil Index. The fund was due to float yesterday, but has been delayed as the bank waits for the final approval on the index from Thai regulator the Securities and Exchange Commission.

The fund is autocallable and has the potential to kick out on four dates throughout its two-year and one-month life. The first observation date is six months from the inception of the product, when the fund will mature with a 5% coupon if the index has risen 6% from its opening level. The next observation date is six months later, when the index must meet the same conditions, but the coupon