Key Features

Start Date 15/07/2022
Term A three year three week investment
Counterparty Royal Bank of Canada (Fitch: AA | Moody's: Aa1 | S&P: AA- as at 12/08/2022)
Linked Assets FTSE 100 Index (the ‘Index’)
Capital At Risk Barrier Capital Protected
Deadlines
ISA Transfers: 29/06/2022
Applications with cheques: 13/07/2022
Applications with bank transfers: 13/07/2022
Tax Treatment Income Tax
Summary Risk Indicator 2

At the Maturity Date, the Plan will pay a fixed gross interest amount of 11% of the money you invest if the Final Level of the Index is at least equal to 90% of its Opening Level. If the Final Level is below 90% of its Opening Level, no growth payment will be payable at the Maturity Date. If the Final Level of the Index is more than 11% above its Opening level you will not receive any additional interest above the fixed gross interest amount of 11% provided by the Plan.

At the Maturity Date, the return of the amount you place in the Plan (your ‘Net Subscription’) is not dependent on the performance of the Index and, subject to Deposit Taker risk, will be returned in full.


Cancellation Risks

  • If an applicant wants to cancel their investment after the Deposit has been purchased, they will only get back the value of the Deposit when it is withdrawn, which is likely to be less than the amount originally placed in the Plan.
  • If we pay an adviser charge amount to the applicant's financial adviser on their behalf and they subsequently change their mind about applying, the applicant will be responsible for obtaining any refund which may be due to them from their adviser.

Concentration risk

  • The Plan should only be considered as part of an applicant's overall investment portfolio. An applicant should not put all, nor a large part, of the money they have available for investment into any one plan, to avoid over exposure to a deposit taker or plan type.

Deposit Taker risks

  • It is possible that the Deposit Taker could collapse or fail to make the payments due from the Plan. If this happened an applicant could lose some, or all, of their Net Subscription, as well as any interest to which they otherwise might have become entitled. This is subject to any potential eligibility for compensation from the FSCS.
  • The actual and perceived ability of the Deposit Taker to meet its obligations may affect the market value of an investment over the term. If the Deposit Taker fails to meet its obligations, an applicant will get back less than is due or nothing at all.

Early encashment risk

  • If the applicant decides to withdraw the Deposit before maturity, they could get less back than they placed in the Plan.

Inflation risk

  • Any inflation will reduce the real value of the investment over time.

Deposit risks

  • If the Plan is oversubscribed, the purchase might not be completed. As we near capacity we will flag this on our website at www.meteoram.com.
  • With current interest rates at their historically low levels, the potential interest payable from this Plan is presently higher than can be achieved through a conventional deposit, but it should be remembered that a conventional deposit will almost always provide an interest payment, and that it is possible that interest rates available from those arrangements will improve during the term of the Plan.
  • In the event an investor need to withdraw from the Plan they may be able do so, subject to liquidity risks, by giving notice to that effect to the Plan Manager/Plan Administrator. An investor may receive back materially less than they originally placed in the Plan, especially in stressed market conditions. The actual amount received will depend on the level of the Index, interest rates, market volatility, time left to the Maturity Date and any costs reasonably incurred for breaking the funding arrangements entered into in relation to the Deposit.
  • The value of the Deposit will initially impacted by any charges or costs that were built into it. Subsequently, factors such as, but not limited to, movements in interest rates, the performance of the Index, and the creditworthiness of the Deposit Taker will all affect the price of a Deposit.
  • The Opening Level of the Index applies on the Start Date of the Plan and not the date on which an investor applies for the Plan. The levels may vary significantly between these dates.
  • When the Plan matures an investor might not be able to reinvest the proceeds to achieve the same, or similar, level of interest.

ISA transfer risks

  • If the applicant wishes to transfer an existing ISA this must be done in cash, which means their existing ISA Manager will sell the Deposit. The applicant's existing ISA Manager may also charge them an exit or transfer fee.
  • The applicant could lose some interest if they transfer a cash ISA and decide not to wait for the expiry of any notice period.
  • There is the potential for loss of interest payment if markets should rise while the applicant's transfer of a stocks and shares ISA remains pending.
  • We have a deadline for receipt of ISA transfer applications, to allow time for us to receive the proceeds from the applicant's existing ISA Manager. However, if they do not send us the funds the applicant requests before the Start Date we will not be able to make the Deposit on their behalf.
  • If the applicant has asked us to pay, on their behalf, any adviser fees in relation to an ISA transfer request, this will be paid from the transfer value received and therefore reduce the amount placed in the Deposit with the tax advantages of an ISA.

Liquidity risks

  • The investor should have other savings that they can access immediately to meet any emergency cash needs.
  • The investor must be prepared to keep their money in the Plan for the full term. It may be possible, subject to normal market conditions and regulatory, legal and financial or other conditions of the Deposit Taker or its affiliates, to withdraw from the Plan before the Maturity Date.
  • There is no guarantee that the investor will be able to withdraw before the Maturity Date, as the decision about whether market conditions are normal will be taken by the Deposit Taker.
  • Any repayment amount received prior to the Maturity Date will vary significantly over the life of the Plan and is likely to be less than the amount invested, due to market factors such as performance of the underlying Index, the prevailing level of interest rates and the perceived credit worthiness of the Deposit Taker.
  • In addition to the above factors, the investor will be charged the relevant administration charges outlined in this Brochure. This will further reduce the amount paid on early withdrawal.
  • The terms of the Deposit may permit the Deposit Taker to delay, reduce or withhold payments. These provisions are not intended to circumvent what is legally due to the investor, but are intended to cover unforeseen events which affect the return from the Plan, for example, a suspension or delay in receiving prices.

Market risk

  • External factors could affect national economies, regions or an asset class and cause a fall in value of the Deposit held in the applicant's account or, in extreme cases, the collapse of the Deposit Taker. Please see 'How the Plan works' of the brochure for further information on which factors could influence the interest payable under the Plan.
  • In the event that a Business Disruption, Market Disruption or an Adjustment Event occurs (see 'Business Disruption, Market Disruption and Adjustment Events' of the brochure), the Deposit may be subject to such changes as are agreed between the Deposit Taker and Meteor or terminated by the Deposit Taker. In either such case the interest rate applicable to such Deposit may be varied by the Deposit Taker, in its commercially reasonable discretion.

Pricing risk

  • The Deposit Taker may not be able to quote regular prices making it difficult to value the Deposit and delaying any early withdrawal request the applicant may make.

Product risk

  • The design of the Plan could provide interest that is lower than the amount investors might have obtained from a direct investment in the Index, or may produce no interest at all.

Tax risks

  • Before applying for this Plan investors should conduct independent investigation and analysis regarding the tax treatment of the Deposit to evaluate the merits and risks of the Plan. Tax risks include, without limitation, a change in any applicable law, treaty, rule or regulation or the interpretation thereof by any relevant authority which may adversely affect payments in respect of the Plan.
  • The values of any tax reliefs will depend on the applicant's individual circumstances and could change at any time and be applied retrospectively. It should be noted that the levels and bases of taxation could change in the future and these changes may be applied retrospectively. The applicant should also consider whether they should consult their own tax adviser and carefully review and consider the Plan, in light of their personal circumstances.
  • Re-registration of this Plan to a new holder may alter the tax implications detailed in the brochure.


Please note that we will not be able to accept an application from an investor for this Plan unless they have received financial advice.

A typical investor who invests in this Plan will:

  • Be an Advanced Investor, with appropriate knowledge and experience of equity-based investments;
  • Like investments that provide known returns based on pre-determined market outcomes;
  • Want the potential to secure an interest payment above that available from a traditional deposit-based investment and acknowledge and accept the Summary Risk Indicator set out in the Key Information Document (KID);
  • Understand that the potential interest payment is dependent on the performance of the Index, which is calculated on a set date;
  • Understand and accept that interest from conventional deposits is not contingent on equity performance and that rates from such deposits could rise over the term of the Plan;
  • Be willing and able to tie up their money for the term of the Plan for the objective of producing an interest payment;
  • Appreciate the importance of having a spread of investments to reduce concentration risk;
  • Know and accept that inflation reduces the real value of money and what it can buy;
  • Understand that equity markets are affected by economic and political events nationally and globally.

An investor will not meet the target market criteria if:

  • You cannot invest for the full 3 year 3 week term;
  • You do not understand how this investment works;
  • You are unable, or unwilling, to accept the risks associated with this Plan;
  • The Plan does not meet your investment objectives;
  • You want a known rate of interest on your deposit.
FTSE 100 Index 7159.01

Where available, the Performance Chart is constructed out of indicative BID prices and should not be used as an accurate representation of the current or past value of any investment. Indicative prices are communicated to us directly by the relevant issuing bank and we (Meteor Asset Management Ltd.) are not the calculation agent. We are, therefore, not responsible for the timing or accuracy of any indicative prices shown and produce these charts for purely indicative purposes only. Any prices shown are representative of close-of-business as of the date indicated and are not updated or correct in real-time. Indicative prices are not immediately available to us after an investment has just begun. If no prices are present, check back at a later date or contact us for more information. Past performance is not a reliable indicator of future performance and should not be used to assess the future returns or risks associated with any investment.