Key Features

Start Date 31/01/2020
Term A maximum ten year three week investment.
Counterparty Morgan Stanley & Co International PLC (Fitch: N/A | Moody's: A1 | S&P: A+ as at 23/01/2020)
Linked Assets FTSE® 100 Index (the ‘Index’).
Capital At Risk Barrier 65% of Opening Level at the Final Measurement Date
Deadlines
ISA Transfers: 15/01/2020
Applications with cheques: 29/01/2020
Applications with bank transfers: 29/01/2020
Tax Treatment Capital Gains Tax
Summary Risk Indicator 5

If the Closing Level of the Index on any Measurement Date before the Final Measurement Date is at least equal to its Reference Level the Plan will kick out, i.e. mature early, and make a gross investment return of 8% of the money you invest for each year that the Plan has been in force. The first Measurement Date will be on 29 January 2021, one year after the Start Date.

If the Plan has not matured early, and the Closing Level of the Index on the Final Measurement Date (the ‘Final Level’) is at least equal to its Reference Level, the Plan will provide an investment return at the Maturity Date equal to 80% of the money you invest. If the Final Level of the Index is below its Reference Level, no investment return will be payable at the Maturity Date.

Measurement Dates & Reference Levels (% of Opening Level)
29 January 2021: 105%, 31 January 2022: 102.50%, 31 January 2023: 100%, 31 January 2024: 97.50%, 31 January 2025: 95%, 30 January 2026: 92.50%, 29 January 2027: 90%, 31 January 2028: 87.50%, 31 January 2029: 85%, 31 January 2030 (Final Measurement Date): 82.50%

You will lose money if the Final Level of the Index is below 65% of its Opening Level. The amount of your money that you would lose will be the percentage by which the Final Level of the Index is below its Opening Level. In extreme circumstances you could lose all of your money. If the Final Level of the Index is at least equal to 65% of its Opening Level you will get back the amount you invested.


Cancellation risks

  • If the investor changes their mind about investing after the Securities have been purchased, they will only get back the value of the Securities when they are sold, which is likely to be less than their original investment.
  • If we pay an adviser charge to the investor’s financial adviser on behalf of the investor and the investor subsequently changes their mind about investing, they will be responsible for obtaining any refund which may be due to them from the adviser.

Concentration risk

  • Each available plan should only be considered as part of an investor’s overall investment portfolio. They should only put a portion of the money they have available for investment into any one product or plan, to avoid overexposure to a counterparty or plan type.

Counterparty risk

  • The Counterparty will be responsible for the payment to us of any return of capital and any investment return due from the Securities.
  • It is possible that the Counterparty could collapse or fail to make the payments due. If this happened, the investor would lose some, or all, of their original investment, as well as any investment return to which they might otherwise have become entitled.
  • The actual and perceived ability of the Counterparty to meet their obligations may affect the market value of an investment over the term.
  • In the event that the Counterparty fails to meet their obligations to pay the amounts due from the Securities, you will not be entitled to compensation from the Financial Services Compensation Scheme (‘FSCS’).

Inflation risk

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

Investment risks

  • This is a capital-at-risk product and the investor could lose some, or all, of the money invested.
  • Where there is no minimum investment return, the investor could receive no investment return at all.
  • Should the Index/Indices increase by more than the returns provided by the investment; the investor would not receive the benefit of any additional investment return above that provided by the investment.
  • If the product is oversubscribed, the purchase might not be completed. As we near capacity we will flag this on our website at www.meteoram.com.
  • The value of the Securities that back the investment may vary significantly throughout the life of the investment. Whether an investor decides to sell a Security at its prevailing value during its life, or whether they wait until maturity, they could receive back significantly less than they invested.
  • The value of the Securities that back the investment will be 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/Indices, and the creditworthiness of the Counterparty will all affect the price of a security.
  • The Opening Level of the Index/Indices applies on the Start Date of the Plan and not the date on which an investor applies for the Securities. The level may vary significantly between these dates.
  • When the investment matures the investor might not be able to reinvest the proceeds to achieve the same, or similar, level of investment return.
  • Any investment return may be less than the amount the investor would have received by investing directly in the Index/Indices.

ISA transfer risks

  • If an investor wishes to transfer an existing ISA, this must be done in cash, which means their existing ISA Manager will sell your investment. Your existing ISA manager may also charge investors an exit or transfer fee.
  • An investor could lose some interest if they transfer a cash ISA and decide not to wait for the expiry of any notice period.
  • If an investor transfers a stocks and shares ISA there is the potential for loss of investment growth if markets rise while the transfer remains pending.
  • We have a deadline for receipt of ISA transfer applications to allow time for us to receive the proceeds from the investor’s existing ISA Manager. However, if the ISA Manager fails to send us the funds the investor requested before the Start Date we will not be able to purchase the Securities on the investor’s behalf.
  • If the investor elects to pay an adviser charge and has asked us to pay that fee to their adviser on their behalf, this could reduce the amount invested with the tax advantages of an ISA.

Liquidity risks

  • Investors should have other savings that they can access immediately to meet any emergency cash needs.
  • The terms of the investment may permit the Counterparty 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 returns from the investment, for example, a suspension or delay in receiving prices.
  • The Counterparty intends to make a market in the Securities on a regular basis under normal market conditions, but the Counterparty does not commit, and is under no obligation, to make any market in the Securities.
  • In normal market conditions, it is expected that the Counterparty will provide pricing of the Securities for investors who need access to their capital before the Maturity Date. However, there is no guarantee that the Calculation Agent will provide pricing or that the investor will be able to redeem any investment before the Maturity Date, as the decision about whether market conditions are normal will be taken by the Calculation Agent.
  • If the investor needs to encash the investment before maturity, and the Securities are able to be sold, their value will depend on a number of factors including current market conditions and the investor may receive significantly less than the money invested. The investor will also have to pay an administration charge.

Market risk

  • External factors could affect national economies, regions or an asset class and cause a fall in value of the Securities held in an investor’s account or in extreme cases, the collapse of the Counterparty (see Brochure for further information on which factors could influence the returns payable under the plan).
  • In the event that a Business Disruption, Market Disruption or Adjustment Event occurs (see Brochure for more details), the Securities may be subject to such changes as are agreed between the Counterparty and Meteor or terminated by the Counterparty, and in either such case the investment return applicable to such Security may be varied by the Counterparty, in its commercially reasonable discretion.

Pricing risk

  • The Calculation Agent may not be able to quote regular prices making it difficult to value an investment and delaying any early encashment request an investor may make.

Product risk

  • The design of the product could produce a return that is lower than a direct investment in the Index/Indices or may produce no investment return at all.

Tax risks

  • Before investing in this product, investors should conduct independent investigation and analysis regarding the tax treatment of the investment to evaluate the merits and risks of the product.
  • 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 investment.
  • The values of any tax reliefs will depend on individual circumstances and could change at any time and those changes could be backdated.
  • Investors should note that the levels and bases of taxation could change in the future and these changes may be backdated.
  • Investors should carefully review and consider the investment in light of their own personal circumstances and whether they should consult their own tax adviser.
  • Re-registration of this investment to a new holder may alter the tax implications indicated in the Brochure.


A typical investor who invests in this Plan will:

  • Be an Informed or 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 investment return above that available from a deposit-based investment and acknowledge and accept the level of risk identified by the Summary Risk Indicator set out in the Key Information Document (KID);
  • Be willing and able to tie up their money for the term of the Plan for the objective of capital growth;
  • Accept that they would lose money and be able to afford to do so;
  • Understand that in the event of a loss that this loss would be at least 35% of the money they put into the Plan, and could be considerably more, and in extreme circumstances they could lose all of their money;
  • Understand that any investment return is dependent on the performance of the Index, which is calculated on set dates, and accept they might not get any investment return at all;
  • Know that the level of the Index can fall but do not expect the fall to be more than 35% of its Opening Level at the Final Measurement Date;
  • 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;
  • Accept that if the Counterparty defaults they could lose all their money and any investment return and that they would not have any recourse to the FSCS.

An investor will not meet the target market criteria if:

  • They do not understand how this investment works;
  • They are unable, or unwilling, to accept the risks associated with this Plan, including the loss of their money;
  • The Plan does not meet their investment objectives.
Opening Levels unavailable.

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.