Newcastle Building Society, the first company to release retail UK house price index (HPI) linked bonds back in 1999, has included a choice of views in its latest HPI-linked offer.
The Guaranteed Short-term Property Options Bond offers investors a choice of whether to bet on a rise or a fall in the Halifax HPI. The product has been structured as a two-year bond with a full capital guarantee. The payoff is dependent on whether you opt to short the index, or go long. For the former, your return