The Causeway Securities S&P 500 Kick Out Deposit Plan is a maximum 6 year plan that offers potential growth of 5.36% for each year the plan runs, subject to the performance of the S&P 500 Index.
The Plan will Kick-Out if the respective Closing Level of the Underlying Asset, on any Observation Date, is at or above 100% of its respective Opening Level. In this event an investor will receive their Initial Capital back, plus the Potential Investment Return of 5.36% for each year that the Plan has been in existence. The first Observation Date on which an early maturity could be triggered will be three years after the Start Date.
If the Final Level is below its Opening Level, no Potential Investment Return will be payable at the Maturity Date.
The Deposit Taker on this plan will be Barclays Bank plc. The Plan is eligible for the Financial Services Compensation Scheme (FSCS) protection.
Subject to a minimum investment of £10,000, the Plan is available to: Direct Investment; ISA/ISA Transfers; Pensions; Companies; Trusts; Charities.
It is Causeway Securities understanding of current legislation and known HMRC practice that any investment return from a direct investment by individuals or Trusts into this Plan is expected to be subject to Income Tax. Investors should obtain their own tax advice.
Other Key Information
English law governed deposit
Barclays Bank PLC (www.barx-is.com). 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 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 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) on the key information document.
Coupon: If the product has not terminated early, on each coupon payment date you will receive a coupon payment of GBP 0.0536 together with any previously unpaid coupon payments if the reference level is at or above the 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 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 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 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 product notional amount, subject to the issuer’s ability to pay, 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;
3. they accept the risk that the issuer could fail to pay or perform its obligations under the product but otherwise they are not able to bear any loss of their investment; and
4. they 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.
The product is not intended to be offered to retail clients who do not fulfil these criteria.
To gain a full understanding of this Plan it is important that you read the brochure carefully, including the product risks and terms and conditions. If you are unsure about any aspect of this investment product, please seek financial advice to ensure the Plan suits your requirements and overall investment planning.
Moneyworld does not offer investment advice. The information in this brochure does not constitute tax, legal or investment advice. Please read our terms and conditions before investing
How do I invest?
Our fee is just 0.5%. This can be deducted from the investment or paid by enclosing a cheque to Moneyworld.
Important Plan Dates
Closing Date: 14 October 2022
ISA Transfer Closing date: 30 September 2022
Is the Causeway Securities S&P 500 Kick Out Deposit Plan right for me?
This Plan may be right for you if:
♦ You have received advice from your investment advisor prior to investing in this Plan or you have the necessary investment experience to make this investment on a non advised basis.
♦ You have read the Brochure and understand how this investment works.
♦ You have some knowledge or experience of similar investments, the financial markets and the Underlying Assets which allows you to understand the risks associated with this investment Plan.
♦ You are seeking the opportunity for higher returns than the current cash rates, at the time this Kick-Out Deposit Plan is launched.
♦ You understand that the return of your investment is linked to the performance of the Underlying Asset.
♦ You understand how the Kick-Out Deposit Plan works.
♦ You understand the risk to capital in the event of a Deposit Taker default.
♦ You are willing to invest for a period of up to 6 years.
♦ You have at least £10,000 to invest.
This investment may not be right for you if:
♦ You have received no advice in relation to this Plan and you do not have sufficient knowledge or experience which would allow you to understand this investment.
♦ You have read the Brochure and do not understand how the investment works.
♦ You have not read the warnings or understand the risk disclosures in the brochure
♦ You are seeking regular income from this investment during the 6 year investment term.
♦ You are not comfortable that the return of your investment is linked to the performance of the Underlying Asset.
♦ You do not understand how the Kick-Out Deposit Plan works.
♦ You are not comfortable that your investment may be at risk if the Deposit Taker becomes insolvent.
♦ You are not willing to invest for a period of up to 6 years.
♦ You do not have £10,000 to invest.