iDAD UK & Europe Deposit Kick Out Plan – Issue 13

Key info

  • Counterparty
    Barclays Bank plc
  • Taxation
    Income
  • Maximum Term
    6 years
  • Minimum investment
    £10,000
  • Potential Return
    7.75% p.a.
  • Moneyworld Fee
    0.5%

Overview

The iDAD UK & Europe Deposit Kick Out Plan is a maximum 6 year and 2 week investment that offers a potential return of 7.75% for each year the plan runs, subject to the performance of the underlyings.

This is a 6 year 2 week Deposit Plan linked to the performance of the FTSE 100 Index and Eurostoxx 50 Index. The Deposit Plan is constructed to  offer a potential return of 7.75% p.a. If on any annual observation date (including the Final Observation date), starting at Year 5, if both Underlying  Indices are at or above their Initial Strike Level, the investment will kick out. Initial capital plus the coupon for each annual period which has elapsed is paid  and the investment will end.

Your Initial Capital will be returned in full at maturity regardless of the performance of the Indices, subject to Deposit Taker risk.

The Counterparty to this plan is Barclays Bank PLC in its capacity as deposit taker, acting through its London branch.

Important dates

  • Closing date
    8 August 2024
  • ISA Transfer Closing date
    25 July 2024

More information

English law governed deposit

Barclays Bank PLC (https://derivatives.cib.barclays/). The PRIIP  manufacturer is also the product issuer

The product is designed to provide a return in the form of (1)  conditional coupon payments and (2) a cash payment on  termination of the product. The product has a fixed term and will  terminate on the maturity date, unless terminated early.

Early termination following an autocall: The product will  terminate prior to the maturity date if, on any autocall  observation date, the reference level of the worst performing  underlying is at or above its autocall barrier level. On any such  early termination, you will on the immediately following autocall  payment date receive, in addition to any final coupon payment, a  cash payment equal to the autocall payment of GBP 1. No coupon  payments will be made on any date after such autocall payment  date. The relevant dates are shown in the table(s) in the key information document.

Coupon: If the product has not terminated early, on each coupon  payment date you will receive the applicable coupon payment together with any previously unpaid coupon payments if the  reference level of the worst performing underlying is at or above  its coupon barrier level on the immediately preceding coupon  observation date. If this condition is not met, you will receive no  coupon payment on such coupon payment date. The relevant  dates and coupon payments are shown in the table(s) in the key information document.

Termination on the maturity date: If the product has not  terminated early, on the maturity date you will receive GBP 1.

Under the product terms, certain dates specified above and below will be adjusted if the respective date is either not a business day  or not a trading day (as applicable). Any adjustments may affect  the return, if any, you receive.

The product terms also provide that if certain exceptional events  occur (1) adjustments may be made to the product and/or (2) the  deposit taker may terminate the product early. These events are  specified in the deposit terms and principally relate to the underlyings, the product and the deposit taker. The return (if  any) you receive on such early termination is likely to be different from the scenarios described above and may be less than the  amount you invested.

When purchasing this product during its lifetime, the purchase  price may include accrued coupon on a pro rata basis.

For display purposes numbers within this document have been  cut off at 4 decimal places.

The product is intended to be offered to retail investors who fulfil all of the criteria below:

1. they have the ability to make an informed investment decision  through sufficient knowledge and understanding of the product  and its specific risks and rewards, either independently or  through professional advice, and they may have experience of  investing in and/or holding a number of similar products  providing a similar market exposure;

2. they seek capital growth and/or full protection of the deposited amount, subject to the deposit taker’s ability to pay, expect the  movement in the underlyings to perform in a way that generates  a positive return. They have a long investment horizon and  understand that the product may terminate early;

3. they are not able to bear any loss of their initial investment,  consistent with the redemption profile of the product at maturity (market risk);

4. they accept the risk that the deposit taker could fail to pay or  perform its obligations under the product irrespective of the redemption profile of the product (credit risk);

5. they are willing to accept a level of risk of 2 out of 7 to achieve  potential returns, which reflects a low risk (as shown in the summary risk indicator in the key information document which takes into account both  market risk and credit risk).

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