L&G launches protected capital investment plan 3

UK distributor Legal and General (L&G) has launched a new protected capital investment product. Protected Capital Investment Plan 3 pays the greater of a minimum of 22% capital growth or 50% of any FTSE 100 index growth. The product has a term of 6 years (maturing 12 July 2012).

The minimum capital growth of 22% is an increase from the previous minimum of 21%, L&G says. Investors in Protected Capital Investment Plan 3 receive ordinary shares in the Protected Capital Investment 3, sub-fund of Legal & General Protected Investments

The minimum investment is £500. The offer closes on July 7.

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