London-based structured product specialist Meteor Asset Management has launched the nineteenth in its Prima Growth Plan series.

The product has a six-year and fourteen-day term and will mature and pay 8 per cent at the first annual anniversary so long as the FTSE100 index is at or above the opening level.

If the FTSE100 is below the opening level the plan runs into year two, where if it is at or above the opening level on the second anniversary, it will pay 16 per cent and so on.

Capital is at risk if the close of business level of the index falls below 50 per cent of its opening level during the term and the final level is below the opening level at close of business on 25 September 2015. In this situation the capital loss will be 1 per cent for every 1 per cent fall in the index.

The minimum direct investment is £10,000 (just over $15,000), for ISAs £7,200. The securities will be issued by BNP Paribas.

“We are continuing to offer the Prima products as each tranche closes due to their popularity. The FTSE100 remains quite stagnant but investment commentators are suggesting that it might fall in the coming months prior to the General Election and the opening level being struck. The potential to get a positive return in twelve months time is, therefore, quite realistic,” said managing director Graham Devile