Inv Obj Perf Update
05 Luglio 2010 - 6:18PM
UK Regulatory
TIDMCSUZ
RNS Number : 8517O
Close UK Index Growth Fund 2012
05 July 2010
FOR IMMEDIATE RELEASE
5 July 2010
Close UK Index Growth Fund 2012 (the "Fund")
The Fund's investment objective is to provide investors with four times the
growth of the FTSE 100 Index (the "Index"), up to a maximum capital repayment of
164 per cent of the Issue Price, over the six year period to 22 November 2012,
combined with a high level of capital security, subject to any unforeseen
circumstances.
The Zero Dividend Shares will offer full capital protection unless the Index has
closed down more than 50 per cent from its starting value (i.e. below 3080.15)
during the term AND fails to recover to its starting value of 6,160.30. In this
case, the return on the Zero Dividend Shares will be the same as the return on
the Index. If the Index subsequently recovers and rises above its starting
value, the Zero Dividend Shares will still offer four times the growth of the
FTSE 100 Index, again up to a maximum capital repayment of 164 per cent of the
Issue Price. The Issue Price was 148.64p per Zero Dividend Share and there are
35,625,000 Zero Dividend Shares in issue.
The official closing level of the Index as at 30 June 2010 was 4,916.87+. If
the Index closed at this level on 22 November 2012 [and the Index had not closed
down more than 50 per cent from its starting value during the term (i.e. below
3080.15)], the redemption price (ending share price) would be 148.64 pence +.
Payoff Profile
The table below illustrates how the redemption value of the Zero Dividend Shares
might vary for different ending levels of the FTSE 100 Index.
+--------------------+--------------------+--------------------+
| | Redemption Proceeds |
+--------------------+-----------------------------------------+
| Final FTSE 100 | If FTSE 100 Index | If FTSE 100 Index |
| Index* | never | closed below |
| | closes below | 3080.15 | |
| | 3080.15 | | |
+--------------------+--------------------+--------------------+
| 2000 | N/A | 48.25 |
+--------------------+--------------------+--------------------+
| 2250 | N/A | 54.28 |
+--------------------+--------------------+--------------------+
| 2500 | N/A | 60.32 |
+--------------------+--------------------+--------------------+
| 2750 | N/A | 66.35 |
+--------------------+--------------------+--------------------+
| 3000 | N/A | 72.38 |
+--------------------+--------------------+--------------------+
| 3250 | 148.64 | 78.41 |
+--------------------+--------------------+--------------------+
| 3500 | 148.64 | 84.45 |
+--------------------+--------------------+--------------------+
| 3750 | 148.64 | 90.48 |
+--------------------+--------------------+--------------------+
| 4000 | 148.64 | 96.51 |
+--------------------+--------------------+--------------------+
| 4250 | 148.64 | 102.54 |
+--------------------+--------------------+--------------------+
| 4500 | 148.64 | 108.57 |
+--------------------+--------------------+--------------------+
| 4750 | 148.64 | 114.61 |
+--------------------+--------------------+--------------------+
| 5000 | 148.64 | 120.64 |
+--------------------+--------------------+--------------------+
| 5250 | 148.64 | 126.67 |
+--------------------+--------------------+--------------------+
| 5500 | 148.64 | 132.7 |
+--------------------+--------------------+--------------------+
| 5750 | 148.64 | 138.73 |
+--------------------+--------------------+--------------------+
| 6000 | 148.64 | 144.77 |
+--------------------+--------------------+--------------------+
| 6250 | 157.29 | 157.29 |
+--------------------+--------------------+--------------------+
| 6500 | 181.42 | 181.42 |
+--------------------+--------------------+--------------------+
| 6750 | 205.55 | 205.55 |
+--------------------+--------------------+--------------------+
| 7000 | 229.68 | 229.68 |
+--------------------+--------------------+--------------------+
| 7250 | 243.76 | 243.76 |
+--------------------+--------------------+--------------------+
| 7500 or over | 243.76 | 243.76 |
+--------------------+--------------------+--------------------+
* As at 22 November 2012
| On any day from 22 November 2006 to 22 November 2012
The final return is subject to there being no counterparty default or any other
unforeseen circumstances.
As at 30 June 2010 the investments held by the Company for the account of the
Fund were:
+------------------------------------------------+------------+
| | NOMINAL |
+------------------------------------------------+------------+
| DEBT SECURITIES PORTFOLIO | HOLDINGS |
+------------------------------------------------+------------+
| | GBP |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| Abbey National Treasury Services Plc EMTN 6 | 8,800,000 |
| December 2012 | |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| Britannia Building Society EMTN 6 December | 8,800,000 |
| 2012 | |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| Caisse Centrale du Credit Immobilier de France | |
| EMTN | |
+------------------------------------------------+------------+
| 6 December 2012 | 8,800,000 |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| Irish Life & Permanent Plc EMTN 6 December | 8,800,000 |
| 2012 | |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| Royal Bank of Scotland Plc EMTN 6 December | 8,953,000 |
| 2012 | |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| SNS Bank NV EMTN 6 December 2012 | 8,800,000 |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| | TOTAL |
+------------------------------------------------+------------+
| | GBP |
+------------------------------------------------+------------+
| | |
+------------------------------------------------+------------+
| | 52,953,000 |
+------------------------------------------------+------------+
The Company has also sold for the account of the Fund a Put option with a
notional amount of GBP52,953,000. The performance of the Put option is linked
to the performance of the Index. At an Index value of 6,160.30 or above at the
close of business on 22 November 2012, or if the Index has never closed below
3,080.15 during the calculation period from 22 November 2006 to 22 November 2012
(the "Calculation Period"), the Put option will be worth GBPNil at maturity. If
the Index has closed below 3,080.15 over the Calculation Period and the Index is
still below 6,160.30 at 22 November 2012, the Put option will be worth at
maturity a percentage of the notional value, being GBP52,953,000, equivalent to
the percentage fall in the level of the FTSE 100 Index over the Calculation
Period. As at the date of this announcement the Index has not closed below
3,080.15 during the Calculation Period.
Capital at Risk Products ("CARPs")
The Company has been advised that the Company is a CARP as defined by the
Financial Services Authority (FSA). Investors should refer to the FSA factsheet,
which is available at
www.moneymadeclear.fsa.gov.uk/products/investments/types/pooled/structured_prod
cts.html
The return of capital invested at the end of the investment period is not
guaranteed and therefore the investor may get back less than was originally
invested. Investors should not enter into the transaction unless they are
prepared to lose some or all of the money they have invested.
They should satisfy themselves that the Zero Dividend Shares are suitable for
them in the light of their circumstances and financial position, and if in any
doubt they should seek professional advice. Investors may only achieve the rate
of return advertised over a set period and the return may depend on specific
conditions being met.
+This data has been provided by Close Investments Limited. Close Investments
Limited may source data from third party data providers such as, but not limited
to, Bloomberg. Close Investments Limited accepts no responsibility or liability
for the accuracy of data sourced from such third parties. All data in this
document has been procured and may have been acted upon by Close Investments
Limited for its own purpose. The results are being made available to you for
information purposes only and incidentally. This data is provided purely for
information purposes only and should not be relied upon.
The monthly factsheet is available on the website www.closeam.com.
For further information contact:
Anson Fund Managers Limited
Secretary
Tel: 01481 722260
E&OE - In Transmission
This information is provided by RNS
The company news service from the London Stock Exchange
END
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