Trade of the month: making the comparison

The first structured product that we revisit in this month's magazine is a simple minimum return product linked to the FTSE-100 index. Due to the inclusion of principal protection, it is more suitable to compare the returns with cash or a risk free investment than with equity performance. The six-year risk free rate at the time of this investment was 5.7%, which means that if the investor had chosen a fixed-term, six-year bond he could have expected a compound return of 40.4% in addition to his