NDF Administration is to launch a new investment plan, offering investors a potential 9.75% a year.The NDF Growth Kick Out Plan May ’06 has a maximum investment term of six years, with returns being linked to the performance of both the FTSE 100 and Nikkei 225 indices. However, as its “Kick Out” name suggests, the plan can mature early depending on the performance of the two indices to which it is linked, after one, two, three, four or five years. The earliest possible maturity date is July 27, 2007. If at this time the FTSE 100 and Nikkei 225 have finished above the level they began at on July 27, 2006, the plan will mature and investors will receive 9.75%, plus the capital they invested. If, however, the closing level of the indices on July 2007 is below that of the starting index, the plan will continue into a second year. After that, for each year the plan continues investors will receive 9.75%. So if it finishes after year two, investors will receive their original capital plus growth of 19.5%, 29.25% in year three, 39% in year four and 48% in year five. If on the plan’s maturity date – July 27, 2012 – the indices have a final index level higher than the starting level, it will return 58.5%. If the growth remains less than the starting index level, investors will only receive their original capital investment. However, if at any time in the plan’s six-year investment term either or both of the indices falls more than 50% below its starting level, investors will lose 1% of their original capital investment for each 1% the final index level is below the starting level. As a result, full repayment of capital is not guaranteed. The offer for the plan opens on May 16, closing on July 13. The deadline for Pep and Isa transfers is June 29. For those who invest directly, minimum investment is 10,000, while for Isas and Isa/Pep transfers, the minimum is 7,000. Self-invested personal pensions and small self-administered schemes can also invest in the plan, and for intermediaries there is an initial 3% commission offered.