Meteor FTSE Monthly Fixed Income Plan

Meteor FTSE Monthly Fixed Income Plan


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High fixed interest and regular payments: 5.8% per year, fixed for four years with monthly interest payments…

By combining a high fixed interest, a fixed term, monthly payments, and some capital protection if the market falls, this plan has a lot to offer
Oliver Roylance-Smith

Oliver Roylance-Smith

Head of Savings and Investments

For those looking at alternative options to traditional savings accounts to secure a higher level of regular fixed interest, this plan launch may be timely. 

If prepared to include conditional capital protection, the popular FTSE Fixed Monthly Income Plan from Meteor pays 5.8% fixed interest per year (0.4833% paid each month), fixed for four years. Unlike some other plans in this space, there is no early maturity feature, so you know exactly how long the interest will be paid.  

The plan also includes conditional capital protection, which means your initial capital is returned at the end of the term provided the FTSE 100 Index has not fallen more than 35% below its level at the start of the plan. If it has, your capital is reduced by 1% for each 1% fall, so your capital is at risk.

With the ongoing impact of high inflation causing real challenges for many, the combination of high fixed income and some capital protection may be attractive to a wide range of investors.

 

Important Information: This is a structured investment plan which is not capital protected and is not covered by the Financial Services Compensation Scheme (FSCS) for default alone. There is a risk of losing some or all of your initial investment due to the performance of the underlying investment. There is also a risk that the company backing the plan known as the Counterparty may be unable to repay your initial investment and any returns stated.

Plan Details

Fixed monthly income: 0.4833% (equivalent to 5.8% annually)

Income paid monthly for full 4 year term of plan, regardless of the FTSE 100 Index performance

Capital At Risk Product – 65% barrier

Alternative option also available with a  lower 60% capital at risk barrier, returning 5.6% fixed pa

Available for Stocks & Shares ISA, ISA Transfer and Direct Investments. Also available to businesses, charities, trusts and SIPP and SSAS pension schemes

Investment term: 4 Years

Arrangement fee applies

Minimum single investment: £5,000 

Maximum ISA investment: £20,000

No maximum for ISA transfers and non-ISA investments

Deadlines

ISA Transfer Applications: 21 February 2024
Direct & ISA Application: 6 March 2024

Reduced arrangement fee: For investments of £100,000 or more into this plan, processed through Fair Investment Company, your arrangement fee will be reduced to 2% of your original investment.

Meteor FTSE Monthly Fixed Income Plan March 2024

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