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DUAL CURRENCY INVESTMENTS
Earn high interest with this currency-related investment
- Earn a higher rate of interest than on conventional fixed term deposits
- The potential to buy another currency at a better exchange rate than today
- Choice of term - one week to a year
- Choice of currency pair - including sterling, US dollars, euro, Japanese yen, Swiss francs and Australian dollars (other options also considered)
- A minimum investment of US$100,000 (or equivalent)
This is how it works
At Inception
- Investment - You choose the initial currency. And how much you want to invest. e.g. US$1,000,000
- Term - You make your investment for an agreed fixed period. e.g. 1 month
- Conversion Currency - At the same time, you choose your alternative currency - the currency that the Bank could repay you in. e.g. sterling
- Target Conversion Rate (TCR) - You select the rate at which you would like your investment currency to be converted. If you would prefer to stay in your investment currency you select an exchange rate that you believe your deposit currency will not strengthen to. e.g. $1.7400
- Interest rate - The enhanced interest rate you earn will depend on your TCR. The closer the TCR is to the current spot rate the higher the interest rate will be. e.g. 6.5%
At Maturity
- Scenario 1 - Your investment and interest will be repaid in the investment currency (US dollars) if the spot exchange rate is above the TCR of $1.7400.
- Scenario 2 - Your investment and interest will be repaid in the alternative currency (Sterling) if the spot exchange rate is equal or below the TCR of $1.7400.
The above example uses a spot exchange rate of US$1.7650 / £1.
All rates and figures are for illustrative purposes only as at December 2005
Whatever happens at conversion you will always receive interest at the agreed enhanced rate. |
Further details
For more information, you can phone us using the following
contact
information. Alternatively please e-mail your enquiry using our secure
e-mail form.
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