The Meteor Fixed Growth Recallable Plan (Option 1) is a maximum 10 year and 3 week investment that offers a fixed gross growth payment of 7.50% for each year the plan runs.
At the Maturity Date or if the Plan matures early, the amount you invest in the Plan (your ‘Capital’) will be returned in full, subject to Counterparty Risk.
From Year 2, the Issuer can terminate the Plan on any Anniversary Date at its own discretion. In this event, the Plan will mature early and make a gross investment return of 7.50% of the money you invest for each year the Plan has been in force. The first date on which an early maturity could be triggered will be two years after the Start Date.
If the plan never Recalls and reaches the End Date, it will pay Growth equal to 75% of the money invested.
The Securities purchased will be Notes issued by Credit Agricole CIB. The Securities can be viewed in a similar way to a loan to the Issuer.
It is Meteors understanding that any income payments from a direct investment by individuals or Trusts into this Plan are expected to be subject to Income Tax.
Other Key Information
The product is in the form of a debt instrument, governed by English law
Crédit Agricole CIB
To receive a single payment on the Maturity Date or on any earlier Payment Date (subject to the credit risk of the Manufacturer). Amounts stated below are in respect of each Nominal Amount that you invest.
Callability: The Manufacturer has the right, but not the obligation, to redeem the product early on each of the Call Dates. In such event, you will receive an amount equal to the Notional Amount multiplied by the Call Rate corresponding to such Call Date on the immediately following Payment Date. No further payments will be made following such payment and early redemption.
Redemption on the Maturity Date: If the product is not redeemed early, you will receive an amount equal to the Nominal Amount multiplied by the Final Redemption Rate.
Early redemption and adjustments
The terms of the product provide that if certain defined events in addition to those described above occur (principally but not exclusively in relation to the product, any underlying, or the Manufacturer of the product (which may include the discontinuation of the Manufacturer’s ability to carry out the necessary hedging transactions)), adjustments may be made to the terms of the product to account for the relevant event or the product may be early redeemed. The amount paid upon early redemption may be less than the amount originally invested.
This product is intended for clients who:
• have significant knowledge and experience in products such as the one described in the key information
• are willing and able to bear a potentially total loss
• have a risk tolerance consistent with the summary risk indicator in the key information document
• are expressing a view on the underlying consistent with the conditions for a positive outcome (as stated in the product description)
• have a horizon consistent with the term of this product
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 of business before investing
How do I invest?
Our fee is just 0.5%. This can be deducted from the investment or paid directly to us.
Important Plan Dates
Closing Date: 04 January 2024
ISA Transfer closing date: 18 December 2023
Other application form
Is the Meteor Fixed Growth Recallable Plan (Option 1) right for me?
A typical investor who invests in this Plan will:
♦ Be either an Informed or Advanced Investor, with appropriate knowledge and experience of equity- based investments;
♦ Want the potential to secure an investment return above that available from a deposit-based investment and acknowledge and accept the level of risk, identified by the Summary Risk Indicator set out in the Key Information Document (KID);
♦ Be willing and able to tie up their money for the term of the Plan for the objective of capital growth;
♦ Appreciate the importance of having a spread of investments to reduce concentration risk;
♦ Know and accept that inflation reduces the real value of money and what it can buy;
♦ Understand that the Issuer may trigger the early maturity of the Plan at any Anniversary Date, from year 2 onwards;
♦ Accept that if the Counterparty defaults they could lose all their money and any investment return and that they would not have any recourse to the FSCS.
The information provided on this page is not investment advice or an investment recommendation. It is designed to provide some guidance as to the possible future risks and rewards of this Plan.
An investor will not meet the target market criteria if:
♦ They do not understand how this investment works;
♦ They are unable, or unwilling, to accept the risks associated with this Plan, including the loss of their money;
♦ The Plan does not meet their investment objectives.