Meteor FTSE Quarterly 75 Income Kick Out Plan

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Defensive income plan offering up to 5.8% interest, even if the FTSE falls by 25%…

If 5.8% annual interest even if the stock market goes down 25% sounds like a reasonable level of risk for a competitive interest return, this plan may be worth a closer look

Oliver Roylance-Smith

Head of Savings and Investments

A defensive income plan offers the opportunity to receive interest from your investment, even if the stock market falls, which can make for a compelling option.

The Meteor FTSE Quarterly 75 Income Kick Out Plan will pay 1.45% income at the end of each quarter, provided the FTSE 100 Index has not fallen more than 25% below its value at the start of the plan – that’s a potential 5.8% per year interest, even if the FTSE falls 25%. If the Index does close below this level, no income is paid for that quarter.

The plan has a maximum term of 10 years, but also offers the opportunity to receive your initial capital back in full before then, if the FTSE at the end of each quarter (from year 1 onwards), is at least 5% higher than its value at the start of the plan. If the plan does not end early, your initial capital is returned in full provided the FTSE has not fallen by more than 35% at the end of the plan term. If it has, your initial investment will be reduced by 1% for each 1% fall, so your capital is at risk.

The super defensive income feature and the conditional capital protection could be attractive to a wide range of investors, whilst the 5.8% return on offer is a competitive headline interest rate

Plan Details

Potential quarterly income: 1.45% (equivalent to 5.8% annually) if the FTSE 100 Index doesn’t fall by more than 25%

Potential to mature early quarterly from year 1 onwards if the FTSE 100 Index rises by 5% or more

Capital At Risk Product – 65% barrier

Available for Stocks & Shares ISA, ISA Transfer and Direct Investments. Also available to businesses, charities, trusts and SIPP and SSAS pension schemes

Investment term: Maximum 10 Years

Arrangement fee applies

Minimum single investment: £5,000

Maximum ISA investment: £20,000

No maximum for ISA transfers and non-ISA investments

Deadlines

ISA Transfer Applications: 28 November 2024
Direct & ISA Applications: 12 December 2024

Reduced arrangement fee: For investments of £100,000 or more into this plan, processed through Fair Investment Company, your arrangement fee will be reduced to 2% of your original investment.

Meteor FTSE Quarterly 75 Income Kick Out Plan December 2024

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Regular contributions	E.g. £100 a month investment
Collective investments (unit trusts, OEICs, etc)	Nil initial commission plus up to 0.3% of your fund value each year, so £0 initial commission plus £3 trail commission in year two and so on (the actual amount in later years will vary in line with the value of your fund). The trail commission is included within the standard charging structure of the investment.
Structured products	Not applicable as regular contributions are not permitted
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Lump sum investment	E.g. £30,000 investment
Collective investments (unit trusts, OEICs, etc)	Nil initial commission plus up to 0.3% of your fund value each year, so £0 initial commission plus £90 trail commission in year two and so on (the actual amount in later years will vary in line with the value of your fund) The trail commission is included within the standard charging structure of the investment.
Structured products	Initial commission of up to 3%, so Fair Investment Company will receive £900. This commission will be paid directly to us by the product provider and is taken into account within the standard charging structure of the product. Where no commission is paid by the product provider our introductory fee will be taken as an initial charge from your investment. This introductory fee will be no more than 3% of the amount invested. No annual trail commission will be payable.
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Savings Accounts	Accounts pay either initial commission (up to 0.3%) or trail commission (up to 0.4%), but not both. So depending on the product it could be £90 initial commission or £120 trail commission in year 2 and so on (actual amount will vary in line with the value of your savings account).