The iDAD UK & US Defensive Growth Deposit Plan is a 3 year 1 week plan that offers potential growth of 21% at maturity, subject to the performance of the underlying indices
Term
3 years 1 week
Interest Rate
21% if at the Final Observation date, both Underlying Indices are at or above 90% of the Initial Strike level.
Underlying indices
FTSE™100 Index & S&P 500 Index
Deposit Taker
Barclays Bank plc
How can I hold this?
Direct, ISA/ISA Transfers, SIPPs, SSAS, Corporate, Charities and Trusts
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) a conditional coupon payment and (2) a cash payment on the maturity date.
The product has a fixed term and will terminate on the maturity date.
Coupon: On the maturity date you will receive a coupon payment of GBP 0.21 if the reference level of the worst performing underlying is at or above its coupon barrier level on the coupon observation date. If this condition is not met, you will receive no coupon payment.
Termination on the maturity date: On termination of the product 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 underlyings, 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.
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 income and/or full protection of the product notional amount, subject to the issuer’s ability to pay, expect the movement in the underlyings 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?
Application Fee
Our fee is just 0.5%. This can be deducted from the investment or paid directly to us.
Important Plan Dates
Closing Date (Cheque payments): 14 June 2023
Closing Date (Electronic payments): 21 June 2023
ISA Transfer closing date: 07 June 2023
Important Documents
> Plan Brochure – UK & US Defensive Growth Deposit Plan – Issue 1
> Direct/ISA/ISA Transfer Application Form
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Is the iDAD UK & US Defensive Growth Deposit Plan right for me?
This Deposit may be suitable for investors who:
♦ Are seeking the opportunity for higher returns than current cash rates at the time this Deposit Plan is launched
♦ Understand how the capital protection works
♦ Wish to have exposure to the Underlying Indices
♦ Understand the deposit must be held until maturity to receive the quoted returns plus initial investment.
♦ Are looking to invest for the medium to long term, being happy to remain invested until the Maturity Date
♦ Can afford to have their cash invested for the full term of the Deposit Plan
♦ Wish to use this investment as part of a well-diversified portfolio
♦ Understand the risk to capital in the event of a Deposit Taker default
♦ Should they need to encash their investment before maturity, accept that the trading price may mean they get back an amount less than they invested
♦Appreciate that the 21% is dependent on the Underlyings being at or above 90% of their initial strike level on the Final Observation Date.
This Deposit may not be suitable for investors who:
♦ Have not received advice or spoken to a financial adviser who deems the Deposit Plan appropriate for them
♦ Don’t understand the risks of the Deposit Plan
♦ Require a guaranteed income
♦ Don’t want exposure to an equity Index
♦ Require access to their investment over the term
♦ Are unsure how the Deposit Plan works
♦ Do not have at least £10,000 to invest
♦ Are not comfortable that their investment may be at risk if the Deposit Taker becomes insolvent
♦ Cannot make an informed decision based on the information within the brochure or from the Deposit Taker’s Key Investment Document (KID)