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  4. 5 year 50:50 guaranteed equity bond (issue 1)

5 year 50:50 guaranteed equity bond (issue 1)

The 5 year 50:50 guaranteed equity bond (issue 1) is a deposit based investment linked to the FTSE 100 Index over a five year period. You'll receive 90% of the average growth in the FTSE 100 Index. If the FTSE 100 Index falls, because your money is linked to the FTSE 100 Index rather than invested in the companies listed in it, your capital will be available for re-investment on 14 May 2010.

"Initial index" means the average value of the FTSE 100 Index measured at normal FTSE 100 Index closing time on each day between 31 May 2005 and 31 August 2005.

"Maturity index level" means the average value of the FTSE 100 Index measured at normal FTSE 100 Index closing time on each day between 11 May 2009 and 11 May 2010.

Your initial index level
5192.40
Your maturity index level
5068.29

Although your 5 year 50:50 guaranteed equity bond (issue 1) will not pay a return, it was only linked to the FTSE 100 Index, not directly invested in the companies listed in it, so you can be confident that your original investment will be returned at maturity under the terms of the account.

Your 5 year 50:50 guaranteed equity bond (issue 1) matures on 14 May 2010. If you haven't already done so please send us back your maturity instruction form.

Gross is the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

*AER stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and compounded once each year. As every advertisement for a savings product which quotes an interest rate will contain an AER, you will be able to compare more easily what return you can expect from your savings over time.

NET rates are illustrative only, allowing for the deduction of income tax at 20%. If you are a higher rate tax payer, you may have a further amount to pay. If we deduct more tax than you have to pay this can be reclaimed from HMRC.

Tax Free means free from personal liability to Income Tax.

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This site is intended for UK residents unless otherwise stated.
Birmingham Midshires is a division of Bank of Scotland plc, which is authorised for accepting deposits by the Financial Services Authority. It is entered in the FSA's Register and its Register Number is 169628. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh, EH1 1YZ.
To contact the FSA Consumer helpline, please ring 0300 500 5000 or visit www.moneymadeclear.org.uk/.