Protected Oil Growth Plan

Features
Target Market
Key Facts
Key Dates
Literature

8% per annum with 4 early maturity opportunities

This plan is closed to new applications.

Investment returns linked to the performance of the Standard & Poor's GSCI Crude Oil Excess Return Index™
No Index growth required to achieve quoted returns
If the Index is above 80% of its Opening Level but below its Opening Level on any anniversary, the plan will accrue an 8% growth amount
Provided the Index is at or above its Opening Level on any anniversary, you will accrue a growth amount and the Plan will mature
If the Index is not above 80% of its Opening Level on any anniversary the Plan will not accrue an 8% growth for that year
100% capital return provided the Final Level of the Index is not more than 40% below its Opening Level
The counterparty is BNP Paribas, which has a Standard & Poor's credit rating of 'AA' as at 5 August 2009
Available until 5 November 2009

Target Market

This investment could be suitable as part of an investment portfolio for investors who

understand and are used to equity and commodity based investments, and
are able to invest for a period of up to 5 years, and
are prepared to accept a degree of risk to their capital in return for a higher potential growth than would be available via a deposit based investment

Key Facts

Investment Term

5 years and 14 days, with the potential for early maturity. Maturity will be triggered if the level of the Index is at or above its Opening Level on any Measurement Date.

Availability

As direct investments, stocks and shares ISAs, ISA transfers (including former PEPs), and for pension funds, trustees and companies.

Index

Standard & Poor's GSCI Crude Oil Excess Return Index™

Investment Return

If at any measurement date the Index is above 80% of its Opening Level but less then 100% of the Opening Level the plan will accrue a growth payment of 8% and continue for another year.

If the level of the Index is at or above the Opening Level on any anniversary, the plan will mature and pay a growth payment of 8% plus any other accrued growth payments.

if the Index is below 80% of the Opening Level on any anniversary no growth amount will accrue and the plan will continue for another year.

Capital Return

A full capital return will be payable if the Final Level of the Index is not more than 40% below its Opening Level.

If the Final Level of the Index is more than 40% below its Opening Level, the return of capital will be reduced by 1% for each 1% the Index finishes below its Opening Level.

Counterparty Risk

The securities will be issued by BNP Paribas, a major financial institution with a rating of ‘AA‘ by Standard and Poor’s. If the financial institution were to fail to meet the repayments due to you, you could lose some or all of your investment. Counterparty risk is common to all similar investments

Tax

Under current tax legislation gains on assets held in an ISA will be free from any tax, while gains on direct investments will be subject to Capital Gains Tax. Details of ISA & PEP scheme merger & other changes are available on the HMRC website.

Interest

Interest will be credited on subscriptions received and held in our client account up to the investment date, subject to a de minimis limit of £10.

Charges

There are no initial or ongoing charges. Charges are included in the pricing of the investment.

Early encashments and transfers during the investment term will be subject to an administration charge.

Commission

Securities

Securities will be structured to provide the returns shown in the plan brochure, and purchased for each investor. These may be notes, warrants, shares or deposits depending on the nature of the investment.

Key Dates

Offer period

Closed

ISA transfers

Applications must be received by 29/10/2009

Start date

09/11/2009

Opening level