Multiple knock-outs hit the market


A number of products with multiple knock-out options have come onto the market this month. NDF used the knock-out features for the latest issue of its Growth Plan, structured by Abbey National Treasury Services. The product returns a minimum of 100% of the investor's capital plus 125% of the FTSE over the six-year period.

If, however, on the second, third, fourth and fifth anniversaries of the product, the index is at least 20%, 30%, 40% or 50% (respectively) above the strike, the product knocks

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