The Meteor FTSE/STOXX Quarterly Fixed Income Plan is a five year three week investment offering a fixed quarterly income of 1.5625%.
The plan starts on the Start Date. Every quarter, on a Quarterly Income Date, the plan will pay fixed Income equal to 1.5625% of the money invested. The first Quarterly Income Date is 3 months after the plan starts
Customers will get all their invested money back at the End Date if the End Levels of the Indices are at or above 65% of their respective Start Levels. This barrier level is called the Loss Barrier.
If one or more of the End Levels of the Indices are below 65% of their respective Start Levels, customers will lose money proportional to the fall in the worst performing Index.
The Counterparty to this plan is Natixis in its capacity as guarantor to the issuer of the financial contracts, Natixis Structured Issuance SA. 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.
It is Meteor’s understanding that any investment return from a direct investment by individuals or Trusts into this Plan is expected to be subject to Capital Gains Tax.
Other Key Information
The product is in the form of a debt instrument, governed by English law.
Natixis (Issuer: Natixis Structured Issuance / Guarantor: Natixis)
To provide interest payment(s), in return for the risk of loss of capital. Amounts stated below are in respect of each Nominal Amount that you invest.
– Interest Rate: 1.5625% on each of the Interest Payment Date.
Interest Amount on each Interest Payment Date: you will receive the Nominal Amount multiplied by the Interest Rate.
Redemption amount on the Maturity Date:
You will receive one of the following:
– If a Barrier Event has NOT occurred, you will receive the Nominal Amount.
– Otherwise, you will receive the Nominal Amount diminished by an amount equal to the absolute value of the Worst Final Underlying Performance multiplied by the Nominal Amount. The amount paid in such case will be less than the Nominal Amount and you will lose some or all of your capital.
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 any Underlying, or the Issuer of the product (which may include the discontinuation of the Issuer’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 on any early redemption may be less than the amount originally invested.
This product is intended for retail investors who:
• have income objective
• are willing and able to bear a total capital loss and accept the credit risk of the Issuer and the Guarantor
• have a risk tolerance consistent with the summary risk indicator in the key information document
• have sufficient knowledge and experience in products such as the one described in the key information document
• have a minimum investment horizon consistent with the recommended holding period
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: 06 March 2024
ISA Transfer closing date: 21 February 2024
Other application form
Is the Meteor FTSE/STOXX Quarterly Fixed Income Plan right for me?
A typical investor who invests in this Plan will:
♦ Be an Informed or Advanced Investor, with appropriate knowledge and experience of equity- based investments;
♦ Like investments that provide known returns based on pre-determined market outcomes
♦ Be willing and able to tie up their money for the term of the Plan for the objective of fixed income;
♦ Accept that they could lose money and be able to afford to do so;
♦ Understand that in the event of a loss that this loss would be at least 35% of the money they put into the Plan, and could be considerably more, and in extreme circumstances they could lose all of their money;
♦ Know that the level of the Indices can fall but do not expect the fall to be more than 35% of their Opening Levels at the Final Measurement Date;
♦ 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 equity markets are affected by economic and political events nationally and globally;
♦ 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.
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.