Hilbert FTSE 100 EW45 Conditional Memory Autocall – Issue 24

Key info

  • Counterparty
    Citigroup
  • Taxation
    Income
  • Maximum Term
    10 years
  • Minimum investment
    £5,000
  • Potential Income
    1.9% Quarterly
  • Moneyworld Fee
    0.5%

Overview

The Hilbert FTSE 100 EW45 Conditional Memory Autocall has a maximum term of 10 years and offers a potential quarterly income of 1.9%, subject to the performance of the underlying asset.

Investment Term

Up to 10 years. However, the Plan can mature early from the second year onwards, if certain criteria are met (see “Early Maturity” below).

Underlying assets

FTSE 100 Equally Weighted 45 Point Decrement Index

Counterparty

Citigroup Global Markets Funding Luxembourg S.C.A.(‘Citigroup’)

Administrator and Custodian

Hilbert Investment Solutions

Income

You will receive an income payment of 1.9% for each Quarterly Measurement Date that the Closing Level of the Underlying Asset is at least equal to 80% of its Opening Level. The income is paid gross. If the Closing Level of the Underlying Asset is below 80% of  its Opening Level on a Quarterly Measurement Date, no income will be paid for that  quarter. However the Memory Feature means that any missed income payments are  carried forward to future Quarterly Observation Dates together with the income payment due for that quarter. Once the Plan has matured, no further income will be paid.

Early maturity

The Plan will mature early if the Closing Level of the Underlying Asset is at least equal  to 105% of its Opening Level on any Quarterly Measurement Date from the end of year 2.  If this happens, you will receive the income payment for that quarter, and the repayment of your original investment in full at this point.

Repayment of your investment if no early maturity

If the Final Level of the Underlying Asset is more than 50% below its Opening Level, you will receive back significantly less than your initial investment. The amount of your investment you receive back will be reduced by the same percentage amount that the Underlying Asset has fallen in value from the Start Date.

Expected tax treatment

Income Tax

Important dates

  • Closing date
    29 August 2024
  • ISA Transfer Closing date
    23 August 2024

More information

English law governed notes

Citigroup Global Markets Limited (http://www.citigroup.com/). The product issuer is  Citigroup Global Markets Funding Luxembourg S.C.A. with a guarantee by Citigroup  Global Markets Limited.

Call +44 20 7986 2121 for more information.

Authorised by the U.K. Prudential Regulation Authority and regulated by the U.K.  Financial Conduct Authority and U.K. Prudential Regulation Authority

The product is designed to provide a return in the form of (1) conditional interest  payments and (2) a cash payment on termination of the product. The timing and  amount of these payments will depend on the performance of the underlying. The  product has a fixed term and will terminate on the maturity date, unless terminated  early. If, at maturity, the final reference level of the underlying has fallen below the  barrier level, the product may return less than the product notional amount or even  zero.

Early termination following an autocall: The product will terminate prior to the  maturity date if, on any autocall observation date, the reference level is at or above the autocall barrier level. On any such early termination, you will on the immediately  following autocall payment date receive, in addition to any final interest payment, a  cash payment equal to the autocall payment of GBP 1.00. No interest payments will be made on any date after such autocall payment date.

Interest: If the product has not terminated early, on each interest payment date you  will receive an interest payment of GBP 0.019 together with any previously unpaid  interest payments if the reference level is at or above the interest barrier level on the  immediately preceding interest observation date. If this condition is not met, you will  receive no interest payment on such interest payment date.

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

1. if the final reference level is at or above the barrier level, a cash payment equal to GBP 1.00; or

2. if the final reference level is below the barrier level, a cash payment directly linked to the performance of the underlying. The cash payment will equal (i) the product notional amount multiplied by (ii) (A) the final reference level divided by (B) the strike level.

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 product issuer may terminate the product  early. These events are specified in the product terms and principally relate to the  underlying, the product and the product issuer. 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 does not include  accrued interest on a pro rata basis.

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

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

– they seek income, expect the movement in the underlying to perform in a way that generates a favourable return, have an investment horizon of the recommended holding period specified in the key information document and understand that the product may terminate early;

– they accept the risk that the issuer or guarantor could fail to pay or perform its obligations under the product and they are able to bear a total loss of their investment; and

– they are willing to accept a level of risk to achieve potential returns that is consistent with the summary risk indicator shown on the Key Information Document.

The product is not intended to be offered to retail clients who do not fulfil these criteria.

Please ensure that you have read and understood the important documents contained on this page.

How do i invest?

1

Online Applications

Click Apply Online and follow the onscreen instructions (this option is not available for ISA Transfers)

2

Email Applications – Print and complete our Appropriateness Assessment Form & the Application Form and email this to admin@moneyworld.com

Please read about ID Verification & Payment Details

3

Postal Applications – Print and complete our Appropriateness Assessment Form & the Application Form and post these along with any cheque’s 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 investment 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:  The actual risk can vary significantly. If you cash in at an early stage you may get less Initial Capital back. You may not be able to sell your Plan easily or have to sell at a price that will impact how much return you get back.

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:  By investing in this Plan you take a possible credit risk with the Counterparty. The Counterparty will be responsible for the payment of any return of capital and income payments due from the Investment. In the event of bankruptcy or payment default by the Counterparty you may be exposed to partial or total loss of capital and you would not be entitled to compensation from the Financial Services Compensation Scheme (FSCS).

Liquidity Risk:  The Issuer of the Securities aims to provide but cannot guarantee a secondary market for the Securities during the investment term.  However, certain market circumstances may have a negative impact on the liquidity of the Securities and result in the partial or total loss of your  initial capital invested.

Structured investment 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.

Plan Brochure - FTSE 100 EW45 Conditional Memory Autocall - Issue 24 thumbnail
Order brochure by post

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

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