Inflation with a cap

Inflation with a cap


This is a 10-year income product linked to the year-on-year change in the Consumer Price Index (CPI), which pays a fixed monthly income equivalent to 4% per annum for the first part of the investment. From the second anniversary onwards the product will pay variable income coupons dependent on the year-on-year change in CPI. Capital is protected if the notes are held to the end of the product term.

The initial interest period is from February 25, 2011 to February 24, 2013. For this period

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