Meteor FTSE Monthly Fixed Income Plan

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High fixed interest and regular payments: 5.68% 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

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 5.68% fixed interest per year (0.4733% 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: 0.4733% (equivalent to 5.68% 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 5.54% 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

The deadline for this plan has now passed. Please fill in the form below to receive details of the next issue of the plan as soon as it becomes available

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 April 2024

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Regular contributions	E.g. £100 a month investment
Collective investments (unit trusts, OEICs, etc)	Nil initial commission plus up to 0.3% of your fund value each year, so £0 initial commission plus £3 trail commission in year two and so on (the actual amount in later years will vary in line with the value of your fund). The trail commission is included within the standard charging structure of the investment.
Structured products	Not applicable as regular contributions are not permitted
Venture Capital Trusts (VCTs)	Not applicable as regular contributions are not permitted
Savings Accounts	Accounts pay either initial commission (up to 1.2%) or trail commission (up to 0.4%), but not both. So depending on the product it could be £1.20 initial commission, or £4.80 trail commission in year two and so on (actual amount will vary in line with the value of your savings account).

Lump sum investment	E.g. £30,000 investment
Collective investments (unit trusts, OEICs, etc)	Nil initial commission plus up to 0.3% of your fund value each year, so £0 initial commission plus £90 trail commission in year two and so on (the actual amount in later years will vary in line with the value of your fund) The trail commission is included within the standard charging structure of the investment.
Structured products	Initial commission of up to 3%, so Fair Investment Company will receive £900. This commission will be paid directly to us by the product provider and is taken into account within the standard charging structure of the product. Where no commission is paid by the product provider our introductory fee will be taken as an initial charge from your investment. This introductory fee will be no more than 3% of the amount invested. No annual trail commission will be payable.
Venture Capital Trusts (VCTs)	Initial commission of up to 2.5% plus up to 0.5% of your current fund value or initial investment each year, so up to £750 initial commission plus £150 trail commission in year two and so on (the actual amount in later years may vary in line with the value of the your investment). Please refer to the individual securities note for how the initial commission is paid. Unless we tell you otherwise, the trail commission is paid to us directly by the investment manager and is included within the standard charging structure of the investment.
Savings Accounts	Accounts pay either initial commission (up to 0.3%) or trail commission (up to 0.4%), but not both. So depending on the product it could be £90 initial commission or £120 trail commission in year 2 and so on (actual amount will vary in line with the value of your savings account).