Mashreqbank launches Equity Gold investment
Mashreqbank has launched MashreqInvestments Equity Gold, a five-year, 100 percent principal guaranteed, US dollar investment product which will pay out a minimum of 15 percent on maturity or 50 percent uncapped participation in the performance of a balanced basket of equity and gold.
The equity part of the investment is linked to the performance of the S&P 500 Index. "Equity Gold targets the risk-averse investor as it guarantees a return of at least 15 per cent if held to maturity," Senior Vice President and Head of Treasury and Capital Markets for Mashreqbank, said Nabeel Waheed. "It also has an unlimited upside potential through 50 percent participation in the performance of the underlying basket of equity and gold, with annual averaging."
The underlying basket is diversified across asset classes as equities perform well in times of economic growth and gold is regarded as a hedge against economic uncertainties and inflation. The minimum investment is $10,000 and the closing date for subscriptions is March, 20, 2004. — (menareport.com)
© 2004 Mena Report (www.menareport.com)