Barclays Capital in the US has launched a series of long-term notes designed to give retirees regular income payments as assets from those reaching retirement is expected to hit $1 trillion per year over the next 10 years.
With all this money saved up, pensioners want a way of getting regular access to the nest egg which they have built up during their working life. These notes are designed to do just that.
The Retirement Income notes have maturities of 15, 20, 25 and 30 years. The Level-Pay Not