The latest issue of Barclays Wealth's Defined Returns Plan launched on Monday, offering investors an alternative to falling cash rates. The new issue continues to offer three investment options for investors seeking greater potential returns than that offered by deposit accounts, particularly in light of the Bank of England's recent decision to cut the UK Bank rate to 1 per cent.

The plan offers a fixed return of 12 per cent for the three-year option, 22 per cent for the four year option and 32 per cent for the five year option.

All three investments offer full capital protection when held for their full terms and will deliver their stated return provided the FTSE 100 at maturity is equal to or higher than its level at the starting date.

The investments can be sold before their maturity but their value may be less than the amount invested.

Investors seeking tax-free gains can take advantage of Barclays Wealth's dual ISA facility across 2008/09 and 2009/10, or alternatively use their CGT exemption.

"With the Bank of England cutting the base rate to 1 per cent there is an even bigger incentive for investors to secure the competitive terms we have been able to maintain from the last issue,”said Barclay’s Wealth head Colin Dickie.

 "Terms in general for protected investments will be lower this year than last but they will still be far in excess of anything investors can potentially find outside unprotected equities, which of course carry a much higher risk. The plan has proved popular with investors seeking more certainty and security in the current environment and we expect that to continue with the new issue being, in relative terms, even more attractive than the last."

Barclays Wealth has £145 billion client assets globally at 31 December 2008. It serves affluent, high net worth and intermediary clients worldwide, providing international and private banking, fiduciary services, investment management and brokerage.