Egg launches new bond

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Egg launches new bond

Mon 23rd Jun 2008

A new bond by Egg lets savers benefit if the UK's top 100 listed companies perform well over the next three years.

Holders of the new FTSE 26 per cent guaranteed equity bond will see the return if the stock market rises by any amount over the bond's starting level, calculated by the FTSE 100 index.

If the stock market goes below its start level after three years, investors will still get their capital back when the bond matures.

Jonathan Gains, head of investments at Egg, said the potential 26 per cent return and capital protection would suit investors "who are cautious but looking for a potentially higher return than most deposits can offer."

Investments can value anything from £1,000 to £1 million with the capital protected as long as the bond is held until the maturity date.

The offer is available from June 23rd to July 20th, 2008.

The popularity of government bonds is recovering but the market is still fragile, according to a Financial Times report.

Inflation is reportedly the main cause.

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