National Bank of Abu Dhabi launches the NBAD 3 Year 100% UAE Principal Protected Notes
The National Bank of Abu Dhabi (NBAD) is expanding its investment products range with the launch of the NBAD 3 Year 100% UAE Principal Protected Notes (the “Notes”).
Through this new UAE equity investment, NBAD not only offers 100% principal protection at maturity, but also provides the potential for unlimited capital gains through exposure to the performance of the UAE equity markets.
Stuart Henrickson, Head of the Corporate Finance Department at NBAD commenting on the issuance of these Notes said, “Given the recent correction in the UAE equity markets, where the current and forecast economic and corporate fundamentals remain very strong, we believe this to be an opportune time to launch these principal protected Notes to benefit investors who desire such local equity exposure in their investment portfolios”.
Saif Ali Munakhas Al Shehhi, NBAD’s General Manager for the Domestic Banking Division added, “Not only will investors gain when UAE equity markets rise but, this ideal opportunity will minimise investment risk through protection of their invested capital at maturity as guaranteed by NBAD irrespective of market conditions. We're very pleased to add these Notes to our current range of investment products and anticipate a strong response from retail, high net worth and institutional investors.”
Subscriptions into the Notes will be accepted for a low minimum of AED 10,000 and, after a 6 – month lock in period, will allow for monthly redemptions at the then – current NAV. These Notes will increase their exposure, up to 125%, to the performance of equity markets as local markets rise and reduce such exposure as these markets decline.
© 2007 Al Bawaba (www.albawaba.com)
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