Hartmoor Financial, the trading name of Target Servicing, has launched its first structured products for UK retail investors.
The products are available via financial intermediaries.
Partnering Hartmoor in this new initiative is Aldermore Bank which will act as deposit taker.
The first products, two deposit-based plans, are open for subscription from today. These are detailed in a Hartmoor announcement:
FTSE 100 Kick Out Deposit Plan 1 – January 2016:
A six-year plan, that offers the potential for maturity at the end of years three, four, five or six with a fixed return of 4.25% per year, provided the FTSE100 closes at or above its Start Level on one of the Kick Out Dates. If the FTSE100 does not close at or above its Start Level on all of these dates, then the investor will receive back their initial Deposit only.
FTSE 100 Deposit Growth Plan 1 – January 2016:
This is a six-year plan, that will pay a return of 31%, provided the FTSE100 closes at or above 90% of its Start Level at maturity. If the FTSE100 closes below 90% of its Start Level, then the investor will receive back their initial Deposit only.
Leading the initiative is Mike Newman: “We strongly feel that there is a need for an independent provider who is focused on simple, well-researched product ideas and giving great customer service. Our goal is to design products that meet genuine customer needs and put the customer at the heart of everything we do. We look forward to offering the market something new, and are excited to have Aldermore as a strategic partner.”
Target Servicing has over five years’ experience in the administration and servicing of structured products for a number of leading banks and product providers.