NDFA has launched its latest defined income plan, offering exposure to the FTSE-100 index. The non-principal protected plan pays 0.6% every month, 7.25% a year, for its five-year term. It has a 50% soft protection barrier, with capital lost in line with the index if breached. The note is structured to give its returns in preference shares, so the income is only subject to capital gains tax. The minimum investment is £10,000 for direct investment and £3,600 for ISA investment and transfer.