Key info
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CounterpartyGoldman Sachs
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TaxationCapital Gains
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Maximum Term6 years
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Minimum investment£5,000
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Potential Return7.45% p.a.
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Moneyworld Fee0.5%
Overview
The Meteor FTSE Annual Step Down to 85 Kick Out Plan is a maximum six year three week investment offering a potential gross return of 7.45% for each year the plan runs, subject to the performance of the FTSE 100 index.
The plan starts on the Start Date. On a Measurement Date, if the level of the Index is at or above a defined percentage of its Start Level, the plan will end and pay Growth equal to 7.45% of the money invested for every year the plan has been in force. This is called a Kick Out and the barrier levels are called the Kick Out Barriers. The first date this can happen is at the end of year 2.
If the plan reaches the End Date, the Index will be measured for the last time. If the End Level of the Index is at or above 85% of its Start Level, the plan will pay Growth equal to 44.70% of the money invested, otherwise, no Growth will be achieved.
Customers will get all their invested money back on a Kick Out; or, at the End Date if the End Level of the Index is at or above 65% of its Start Level. This barrier level is called the Loss Barrier.
If the End Level of the Index is below 65% of its Start Level, customers will lose money proportional to the fall in the Index.
The Counterparty to this plan is Goldman Sachs International in its capacity as guarantor to the issuer of the financial contracts, Goldman, Sachs & Co. Wertpapier GmbH. If the Counterparty’s ability to pay its financial obligations deteriorates significantly, customers’ money, regardless of how the plan is performing at the time, will be at risk of not being paid back in full. Customers will not be entitled to compensation from the Financial Services Compensation Scheme (FSCS) in this event.
Important dates
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Closing date25 September 2024
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ISA Transfer Closing date11 September 2024
More information
The product is in the form of a note issued under Cayman law. It is not an interest bearing security. The payment obligations of the product manufacturer are guaranteed by Goldman Sachs International.
Goldman, Sachs & Co. Wertpapier GmbH (see http://www.gspriips.eu or call +442070510101 for more
information)
The product provides the potential for capital growth and does not pay interest. What you will receive at the end of the term of the product is not certain and will depend on the performance of the class 2735 preference shares issued by GOLDMAN SACHS (CAYMAN) LIMITED (ISIN: GS00PSH27358) (the preference shares). The performance of the preference shares is in turn linked to the performance of the index FTSE 100 Index (the underlying asset). In addition, you will take the risk that some or all of the value of your investment may be lost at the end of the term of the product. The term of the product will end no later than October 4, 2030. However, the product may terminate early depending on the performance of the underlying asset. Each note has a face value of GBP 1. The issue price is 100.00% of the face value. The product will be listed on Luxembourg Stock Exchange (Euro MTF). The subscription period is from August 9, 2024 to September 27, 2024. The issue date is October 11, 2024.
Autocall feature: If the closing price of the underlying asset on any autocall observation date is at or above the autocall barrier, the preference shares and the notes will terminate on the corresponding autocall payment date. In this case, you will receive the autocall payment shown below for each note that you hold.
Repayment at maturity:
This section applies only if no autocall occurs as described above.
On October 4, 2030, for each note that you hold:
1. If the closing price of the underlying asset on September 27, 2030 is at least equal to 85.00% of the initial reference price, you will receive GBP 1.447; or
2. If the closing price of the underlying asset on September 27, 2030 is at least equal to the barrier price, you will receive GBP 1.00; or
3. Otherwise, you will receive GBP 1.00 multiplied by (i) the closing price of the underlying asset on September 27, 2030 divided by (ii) the strike price of the underlying asset.
The initial reference price of the underlying asset is the closing price on September 27, 2024.
The strike price is 100.00% of the initial reference price. The barrier price is 65.00% of the initial reference price.
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 asset, the product and the product manufacturer. 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.
The product is intended to be offered to retail investors who:
1. 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;
2. seek capital growth, expect the movement in the underlying asset 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;
3. accept the risk that the issuer or guarantor could fail to pay or perform its obligations under the product but otherwise are able to bear a total loss of their investment
4. are willing to accept a level of risk to achieve potential returns that is consistent with the summary risk indicator shown in the key information document; and
5. are making use of professional advice.
How do i invest?
Print and complete our Appropriateness Assessment Form
Please read about ID Verification & Payment Details
Print and complete the application form
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 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.
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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