Dual Index Defensive Income Kick Out Plan - January 2025

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Underlying(s)FTSE Custom 100 Synthetic 3.5% Fixed Dividend Index and S&P 500 Index

CounterpartyMorgan Stanley

Term6 years, two weeks

Potential Return1.90% for each quarter the Plan runs (7.60% p.a.); income is paid if the Closing Price of both the Underlyings is at or above the Income Trigger Level on a quarterly Observation Date.

Kick Out Trigger Level95% from the second year onwards, quarterly thereafter

Income Trigger Level80% (observed quarterly)

Initial Capital Return Barrier65% of the Start Level (Observed on the Maturity Date of the Plan only)

Start Date03/01/2025

ISA Transfer Deadline06/12/2024

Close Date24/12/2024

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Capital at Risk

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Concentration Risk

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Long term investment

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Inflation Risk – This is the risk that inflation may reduce the real value of your investment over time.

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ISA Transfer Risk – if you wish to transfer an existing ISA, it must be done in cash. This means that your existing ISA manager will sell your investment and you are likely to be charged an exit fee. There is then the possibility of a loss of income or growth if markets should rise while your transfer is being processed.

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