Barclays Wealth re-launches its Defined Returns Plans

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Barclays Wealth re-launches its Defined Returns Plans

Wed 28th May 2008

Barclays Wealth has re-launched its Defined Returns Plans (DRP), complete with a new four-year option.

Previously, the plan offered three investment choices in one package - two with full capital protection plus an annual kick-out option with more limited protection.

Now that has been divided into two separate products, the first of which offers 20 per cent three-year option, a new 30 per cent four-year deal and a 40 per cent five-year option.

All the options offer full capital protection and will deliver their return provided the FTSE 100 index is at a level equal to or higher than its level at the start date on maturity.

The second product, the DRP Annual Kick-Out, gives investors a ten per cent return for each year the plan is in force. If the index matches or exceeds its starting level on any of the plan's annual anniversaries, it will automatically mature and deliver the accumulated return.

Colin Dickie, director, Barclays Wealth, said: "The DRP has been one of our most popular investments but we felt we could improve clarity by splitting it into two distinct products."

Yesterday Barclays announced discounts on five of its funds.

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