Press releases


James Harrington - Head of Commercial Implementation, Platforms & Distribution
James Harrington
Head of Structured Solutions

12 March 2012

James Harrington - Head of Commercial Implementation, Platforms & Distribution
James Harrington
Head of Structured Solutions

6 Year Growth Deposit Bond 13 offers investors a minimum return of 7.25% at maturity (1.17% AER), or if greater 100% of any capital growth in the FTSE 100 Index (subject to averaging), up to a maximum of 50% of the original investment. The Bond will also return their original investment at the end of the fixed six year term, which is on 22 May 2018.

Legal & General’s Head of Commercial Implementation,Platforms & Distribution, James Harrington said, “The dual benefit of protecting their original capital and a fixed minimum return at the end of the six years has continued appeal for cautious investors, which is one of the reasons  this series of structured deposits has been running successfully for so long. The potential to benefit from positive growth in the FTSE 100 Index is proving an attractive additional benefit for investors who are seeking to inject some growth into their savings rather than holding money on deposit. The offer period for this plan spans two tax years so investors with available ISA allowance could each invest up to £10,980.”

The minimum investment is £500 and the Bond is available as a deposit plan (for individuals, pension trustees, charities and corporate applications). The offer period spans two tax years. So investors can use their cash ISA allowance, where available, from both the 2011/2012 (£5,340) and 2012/2013 (£5,640) tax years to invest up to £10,980 before the close on 4 May. There is no maximum for cash ISA transfers, or if investing in a deposit plan.

The last date for cash ISA applications for the 2011/2012 tax year is 5 April while the closing date for cash ISA applications for the 2012/2013 tax year is 4 May. The last date for ISA transfers is 20 April to allow time for the completion of the transfer before the offer close date. The closing date for all other applications is 4 May 2012.

Commission is 3% of the sum invested. Full details for this product are available on the Legal & General dedicated adviser website

Advisers can also contact Adviser Direct on 0845 273 0008 (Lines are open from 9am to 5pm Monday to Friday. We may record and monitor calls. Call charges will vary).  
Or e-mail

Notes to editors

The information contained in this press release is intended solely for journalists and should not be relied upon by private investors or any other persons to make financial decisions.

1. The contract start date is 22 May 2012 and the end of the fixed term is 22 May 2018. The maturity payment date, when Legal & General receive monies from the deposit taker, is 24 May 2018.
2. This plan is not suitable for customers who may need to access their money before the end of the six year term or who may be seeking a definite return.
3. The growth of the FTSE 100 Index will be measured using the initial level of the Index at close of business on 22 May 2012 and the average level of the Index in the last 12 months of the investment, commencing 22 May 2017 to 22 May 2018.
4. The average level is based on the closing level of the Index on the 22nd of each month during the averaging period (13 observations).  
5. The 6 Year Growth Deposit Bond 13 is designed to return the original investment at the end of the fixed term. If investors take out some or all of their money before the end of the fixed term, they may get back less than they originally invested.
6. Taxation - as this is a deposit investment any growth received is treated as interest. The cash ISA (and an ISA transfer) is a tax free investment. Any growth received through the deposit plan will be paid net of UK income tax at the basic rate (currently 20%). Non tax payers can reclaim this tax. Higher and additional rate tax payers will have further tax to pay. SIPP, SSAS, charity or company applicants can be paid without the deduction of income tax but only where sufficient documentary evidence is provided.
7. The Deposit taker is The Royal Bank of Scotland Plc (RBS).
8. The return on the original investment and any applicable returns is dependent on RBS paying this money to us. This might not happen if RBS default or become insolvent and unable to repay us this money. If they don't repay us, the investor could lose some or all of their original investment. RBS is a member of the Financial Services Compensation Scheme, which covers the first £85,000 each customer holds with each bank or building society.
9. This investment does not invest directly into the companies that make up the FTSE 100 Index and so no dividend income is received.

For more information please contact:

Mike Connolly

Mike Connolly
PR Manager Savings

t: +44 (0) 1737 375365
m: +44 (0) 7802 503917

About Legal & General

Legal & General (Portfolio Management Services) Limited.

Registered address:
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London EC2R 5AA.
Registered in England 2457525.