Meteor launches Prima Growth Plan 16

Meteor, the UK distributor, has launched the sixteenth version of its Prima Growth Plan which has been issued by AAA-rated Rabobank. The kick-out style product has the potential to pay a 10% coupon after one year, paying the return on its first anniversary provided that the FTSE index is at or above its initial level.

If the index is not at the level recorded when the plan began, then it will run into year two, paying a return of 20% at the second anniversary if the index subsequently meets the conditions and continuing into year three if it does not. For each year that the product remains open, it accumulates a coupon of 10%, culminating in a 60% return at its six-year maturity.

Capital is at risk if the FTSE falls by more than 50% at any time during the product's life and is still below its opening level at