Plan Details
|
Investment period |
Five years |
|
Early investment discount
|
Equivalent to 4.0% interest gross per annum on
Your Capital from the date Your Capital clears
(deemed to be three days) until 16 December 2008 |
|
Initial Reference Date |
16 December 2008 |
|
Maturity date |
16 December 2013 |
|
Commodity Basket |
West Texas Intermediate Crude Oil (20%), Gas Oil
(12.5%), Heating Oil (12.5%), Natural Gas
(12.5%), Aluminium (5%), Copper (12.5%), Tin
(5%), S&P Goldman Sachs Index (GSCI) Livestock
Index Excess Return (7.5%), Corn (2.5%),
Soybeans (2.5%), Wheat (2.5%), Gold (2.5%),
Platinum (2.5%) |
|
Commodity Basket Performance
|
The difference between the value of the
Commodity Basket on the Initial Reference Date
and the Market Prices (see p.6 of the brochure
for details) of the Commodities (adjusted for
their respective weightings in the Commodity
Basket) at the time in question. |
|
Final Basket Performance
|
The average of the Commodity Basket performance
recorded on the 16th day of each month (or if
that day is not a Business Day, the next
business day) over the final 12 months of the
investment, starting on 16 December 2012 until
16 December 2013 inclusive. |
|
Investment Objective |
To receive your capital back at the end of the
investment term plus an amount (rounded down to
two decimal places) that is equal to 100% of the
Final Basket Performance (subject to a maximum
return of 100%). |
|
Availability |
Direct investments (also for joint applications), Stocks
and Shares ISAs. Corporates, trusts and charities
(assuming they are set up as a company or a trust) |
|
Investment limit |
Direct investment: £3,600 up to £500,000
Stocks and Shares ISA investment: £3,600 up to £7,200
ISA transfers: £3,600 up to £500,000
Investments in excess of £500,000 are accepted at the
discretion of Woolwich Plan Managers
|
|
Early withdrawal |
Withdrawals can be made on a fortnightly
basis but the amount received will be determined by the
actual price of the investments realised. Clients may
receive less than they originally invested |
|
Counterparty risk |
The issuer of the assets supporting the Plan is Barclays
Bank PLC which is currently rated ‘AA’ by Standard and
Poor's
|
|
Tax |
The gain on assets held in an ISA will be free of tax.
In the case of direct investments, any gain or loss would be
considered a gain/loss under CGT rules. The investor will be able to use their
CGT exemption to reduce any CGT tax that may be payable
|
|
Charges |
No explicit additional initial or annual charges.
Charges have been included within the terms of the investment and
are not expected to exceed 7% of your initial investment.
|
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