Hartmoor Financial has launched its first structured products for UK investors.
The new products, which will have Aldermore Bank as the deposit taker, are two deposit-based plans and will be open for subscription as of today.
The FTSE 100 Kick Out Deposit Plan 1 is a six-year plan offering the potential for maturity at the end of years three, four, five or six with a fixed return of 4.25 per cent per year.
Investors will receive the potential returns if the FTSE 100 closes at or above its start level on one of the kick out dates.
The FTSE 100 Deposit Growth Plan 1, also a six-year plan, will pay a return of 31 per cent, provided the FTSE 100 closes at or above 90 per cent of its start level at maturity.
For the first product, if the FTSE 100 does not close at or more than its start level on all of the kick out dates the investor will only receive back their initial deposit, while for the second product, this will happen if the index closes below 90 per cent of its start level.
Hartmoor Financials director of structured products Mike Newman says: “We strongly feel that there is a need for an independent provider who is focused on simple, well-researched product ideas and giving great customer service.
“Our goal is to design products that meet genuine customer needs and put the customer at the heart of everything we do. We look forward to offering the market something new and are excited to have Aldermore as a strategic partner.”
Later last year, Investec also launched two FTSE 100-linked structured products: the FTSE 100 Defensive Growth Plan 1 and the FTSE 100 Defensive Kick-Out Plan 1.