Hop Investing Fixed Growth Recallable Deposit Plan – July 2024 – SO8710

Key info

  • Counterparty
    Societe Generale
  • Taxation
    Income
  • Maximum Term
    10 years
  • Minimum investment
    £5,000
  • Potential Return
    7.15% p.a.
  • Moneyworld Fee
    0.5%

Overview

The Hop Investing Fixed Growth Recallable Deposit Plan is a maximum 10 year and 3 week investment that offers a potential return of 7.15% for each year the plan runs or 56.50% if the plan runs the full 10 year term.

The plan starts on the Start Date. On each Recallable Date if the Counterparty decides to end the plan early, it will pay Interest equal to 7.15% of the  money invested for each year the plan has been in force. This is called a Recall. The first date this can happen is 2 years after the plan starts.

If the plan never Recalls and reaches the End Date, it will pay Interest equal to 56.50% of the money invested. This represents 5.65% for each year the plan has been in force, lower than the 7.15% that would be paid if the Counterparty decided to end the plan early.

Customers will get all their invested money back when the plan ends, whether that be at the End Date or from a Recall on a Recallable Date.

The Counterparty to this plan is Societe Generale in its capacity as deposit taker, acting through its London branch.

Important dates

  • Closing date
    24 July 2024
  • ISA Transfer Closing date
    5 July 2024

More information

This product is a structured deposit governed by English law.

Société Générale, http://kid.sgmarkets.com

This product is a fixed term investment which is designed to pay  a coupon in the event of Early Redemption or at maturity. The  Issuer may, at its discretion, terminate the product prior to the  Maturity Date, on each Optional Redemption Date, with 5  business days’ notice. The product provides full capital protection at maturity only.

Optional Early Redemption: On each one of the Optional  Redemption Dates, the product can be redeemed early, and you  will receive

– 100% of the Nominal Value

– And, the corresponding Optional Redemption Coupon

Final Redemption: On the Maturity Date, provided that the  product has not been redeemed early, you will receive a final  redemption amount:

– 100% of the Nominal Value

– And, the Final Coupon

Additional Information

– Coupons are expressed as a percentage of the Nominal Value.

– Extraordinary events may lead to changes to the product’s  terms or the early termination of the product and could result in  losses on your investment

The product is designed for investors who:

– have specific knowledge and experience in investing in similar  products and in the financial markets, and are able to understand the risks and benefits that the product could bring them.

– are looking for a product offering growth with full capital  protection and have an investment horizon equal to the  recommended holding period set out in the key information document.

– can afford to suffer a complete loss of their investment and  potential income should the issuer become insolvent.

– Understand that capital* protection only applies to the maturity date and that they may receive an amount less than the capital*  protection stated if the product is sold before maturity.

– are willing to take a certain level of risk in order to obtain a  potential return corresponding to the total risk indicator  indicated in the key information document.

(*) “capital” here means the nominal value of the note, not the  amount invested.

How do i invest?

1

Print and complete our Appropriateness Assessment Form

Please read about ID Verification & Payment Details

2

Print and complete the application form

3

Send your documents to admin@moneyworld.com or post to: Moneyworld, 34 High Street, High Wycombe, Bucks, HP11 2AG

What are the risks?

This is a list of the general risks associated with investing in structured deposit products, please read the plan brochure and key information document for your chosen product to fully understand the risks.

Market Risk:  In the event of a global economic recession this may result in financial markets weakening significantly. Political or climatic events can also cause disruption to the markets. Economic policies, tax rates or interest rates are subject to change and can influence the performance of the  Underlying Asset.

Early Redemption Risk:  You should be prepared to hold the Deposit Plan to Maturity. It may be possible, subject to normal market conditions to withdraw from the Deposit Plan before the Maturity Date.  If you decide to encash the Deposit Plan early, you may not get back your Initial Capital

Inflation Risk:  The value of your investment and any returns you may qualify for are not linked to inflation. If inflation is high over the term of the  Plan, the real value of the Plan may decrease thus affecting the real value of any returns you may receive.

Counterparty Risk:  In the event that the Plan Administrator collapses, becomes bankrupt or goes into liquidation and cannot fulfil their  obligations to you or return your investment, you may be entitled to compensation under the Financial Services Compensation Scheme (FSCS). Deatils of the FSCS and current limits can be found at https://www.fscs.org.uk/

Liquidity Risk: In the event you need to withdraw from the Deposit Plan you may do so, subject to liquidity risks, by giving notice to that effect to  the Deposit Plan Administrator. You may receive back less than you originally invested in the Deposit Plan, especially in stressed market conditions. The amount you receive will depend on a number of factors and there will also be costs incurred for breaking the funding arrangements entered into in relation to your Deposit.  You should have other savings that you can access immediately to meet any emergency cash needs.

Structured Deposit products FAQs

Structured Products are designed to be held to the end of the fixed term, it is possible to cash in the plan early however you could get back less than you originally invested.

Your application should be sent to us and not the Structured product provider, forms can be returned to admin@moneyworld.com or by post to – Moneyworld, 34 High Street, High Wycombe, Bucks, HP11 2AG.  The application should arrive with us before the advertised closing date for your chosen plan.

The payment can be made by bank transfer direct to the plan manager or by cheque, details of where to send the funds or who the cheque should be made payable to are usually included on the application form for your chosen plan.  If you’re still unsure then get in touch with us and we’ll provide details.

The company that you invest with will issue a cancellation notice once they have received and processed your application. This will give you 14 days in which to cancel the application if you decide not to proceed.

However if you cancel the plan after it has started it is possible that you will receive back less than your original investment, irrespective of whether you cancel within the 14 day period or not.

When the plan ends you will be contacted by the company that holds your investment and will usually be given the following options;

– Re-invest into a new product with the same company if they have one available at the time

– Request that they return the proceeds in full to you (any ISA funds returned will lose their ISA status)

– Re-invest part of the money into a new plan and encash the rest

– If the plan is held as an ISA you also have the option of transferring the funds to another company to retain the ISA status

There are a number of websites available that provide historical index levels, links to some of these are provided below;

Yahoo Finance
Investing.com
Bloomberg

If you require historical information for previous issues of the plan you are investing in then this can generally be found on the website of the company that administers the plan.

The fee can be paid direct to us or by specifying on the application form that the fee is to be deducted from your investment.  If you prefer to pay us directly you can do this by cheque or bank transfer.  If posting an application please either enclose a cheque payable to Moneyworld or indicate that the fee is to be paid directly and we will provide account details once we have processed your application.

If you’re emailing your form and haven’t indicated that the fee is to be deducted from the investment, we’ll assume you’re paying  by bank transfer and will provide account details when we acknoweldge receipt of your application.

A Structured Product is a fixed term product which usually runs for between 2-10 years. The return of your original capital and any income/growth payments are usually dependant on the performance of either a basket of shares or more commonly a specific index such as the FTSE 100.

There are two types of Structured Products available:

♦ Investment based
♦ Deposit based

Investment based: At the end of the term, you receive the product return from the company that holds the investment plus a return of capital, providing certain criteria has been met.

The product is issued in association with a third party, known as a ‘counterparty’ who provide the returns and the guarantees. If this third party goes bankrupt, you could lose some or all of your money. This type of product does not benefit from Financial Services Compensation Scheme protection

Deposit based: Deposit based plans are similar to Structured Investment Products, however UK investors may benefit from the Financial Services Compensation Scheme’s (FSCS) deposit insurance scheme, subject to certain limits.

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Have a query?

Get in touch with the team.
Call us on 01494 443806
We’re here 9.00am - 5.30pm
Monday to Friday

Sign up for structured product updates

Have a query?

Get in touch with the team.
Call us on 01494 443806
We’re here 9.00am - 5.30pm
Monday to Friday