Overwhelming demand leads RBS International Personal Banking to launch Autopilot 3 on 19th June, Offer available for a limited period until 12th September, Autopilot is available in USD, GBP and EUR
Dubai 24 June 2008: In response to customer demand after the release of Autopilot 1 and 2, RBS International Personal Banking (IPB) will be launching a third edition of their capital guaranteed* structured deposit account, Autopilot. Following market demand, the deposit account is offered in GBP, USD and Euros.
The main principle of the account is to maximise growth using Autopilot's innovative monthly management strategy. Autopilot provides a diversified portfolio, tracking the performance of four different market sectors when rising, and diverts to cash when a falling trend is identified. It also offers the benefit of protecting the initial capital payment, provided the money is deposited for the full five year term.
The performance is equally weighted across the four sectors (25% into each):
- Developed equity markets
- Emerging equity markets
- Property
- Gold
On a monthly basis the capital guaranteed* structured deposit account observes the price of each market sector compared to the moving average price. This will determine whether to link to the performance of each sector or to divert to Cash if the related sector is underperforming.
Julian Gouge, Head of Middle East & Asia, International Personal Banking comments: "The previous two editions of Autopilot have been incredibly successful and demand has exceeded all expectations. We are extremely happy to be able to offer our customers another opportunity to deposit in this popular and worthwhile deposit account.
"Autopilot is a great option for investors as it is a dynamic deposit account that has the ability to provide a depositor with the exposure to a portfolio of diversified assets and markets. Huge demand from the market has reflected this and Autopilot continues to fly."
If held until maturity the return will be 100% of the initial capital deposit plus the growth of the Autopilot Index.
Autopilot 3 launches on 16th June 2008. The offer period is open until 12th September with a minimum deposit of £/$/€10,000 and will mature on 12th September 2013. Both funds are available through UK and offshore independent financial advisers.
-Ends-
Notes to editors:
- The Autopilot account has a fixed term of 5 years and is not suitable if you need easy access to your money or require regular income. If you need to close your account before the maturity date you may not receive back the full amount deposited.
- The use of the word "guaranteed" in relation to this account refers only to our obligation to repay your capital. Autopilot is not guaranteed by any third party.
- Dividends are not payable on the Autopilot account.
- Autopilot is available in a choice of three currencies. Funds must be deposited with us in the same denomination as your chosen currency. There is an exchange rate risk if you invest in a currency that is not your reference currency.
- Although your capital is protected if the account is held until maturity the return from the Autopilot account may not be as much as if you had invested in a traditional deposit account.
- Please bear in mind that inflation may have reduced the purchasing power of your deposit by the time the account matures.
- Autopilot is available on a limited offer basis and may be closed early if fully subscribed. In this event your original deposit will be returned in full.
References to particular share indices are included only to indicate the basis upon which growth is calculated, not to indicate any association between RBS International and the third party index provider, or endorsement of Profile by the index provider.
For further information please contact:
Ammar Tobba
GCI Middle East Network
Tel: + 971 4 3310331
Email: ammar.tobba@gcidubai.com
© Press Release 2008
