HSBC announces new capital protection offer

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HSBC announces new capital protection offer

HSBC is now offering capital protection and 106 per cent participation in any growth of the FTSE 100 index at the end of the six-year capital protection period, through its capital protected plan and individual savings account (Isa).

Investors can make use of an early release feature, whereby if the FTSE 100 index is up by more than 30 per cent at the end of the third year anniversary, investors will receive 130 per cent of their capital protected amount.

That amounts to a 30 per cent return on their original investment.

Plan investors will also be able to benefit from their annual capital gains tax exemption amount, as any realised gain will be taxed as capital gains rather than income.

Elliot Fowles, head of structured products at HSBC investments, said: "Investors have the peace of mind of capital protection, which, coupled with the added tax efficiency benefits whether via the Isa allowance or ability to be taxed as capital gains rather than income, will make a meaningful difference to the headline return."

In other news, the bank recently announced that it is extending its RateMatcher guarantee for existing customers on fixed-rate mortgages until June 30th 2008.
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