London-based Meteor Asset Management has launched its latest Prima Growth Plan, PGP 15. The returns are linked to the FTSE 100 on a “kick-out” basis.

With a six year term, it offers 11.25 per cent at the first annual anniversary so long as the index is at or above its opening level. If the FTSE 100 is below its initial level the plan runs into year two where if it is at or above its opening level on the second anniversary it will pay 22.5 per cent.

Although the structured products sector has been hit by sagas such as the bankruptcy last year of Lehman Brothers, a large manufacturer of such products, a number of firms - such as Barclays Wealth - have continued to roll out these investment packages.

The Meteor plan stays open until the index is at or above the opening level at any anniversary and therefore would pay 33.75 per cent in year three and so on to 67.5 per cent in year six, according to a statement from the firm.

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 its opening level at maturity. In this situation the capital loss will be 1 for 1 with the index.

Minimum investment is £10,000 (about $15,000) other than for ISAs where the minimum is £7,200.