Norwich Union is to launch its first tranche product for 2005 later this month. The six-year Guaranteed Capital Plan, structured as a deposit, splits the investment into three parts. It pays 75% participation in the FTSE 100 and the Halifax house price index and 8% on cash, paid after one year.
The plan is aimed at the UK's building society distribution partners, though it has attracted attention among bank-tied IFAs. It is expected to be the first in a back-to-back series of issues.