barclays carry on.

carte_blancher

Hi
Wonder if theres any financial wizards out there familiar with the barclays defined returns plan. Ive just had one matured after investing 10,000 in 2007 and received 10,039 back. A very poor return, Acceptable in normal circumstances, you pays you money you reap your dis or advantage. What I would like to clarify is given the shenanigans at Barclays is the Libor tied in with the FT rate as my final payout was determined by the ft rate on a certain date comparable with the rate I opened it on. I also have another investment using the same plan maturing next year for £7000,I want now to pull it out and Barclays will apply that rate on the date I pull it out with no creedence to whether its below £7000 or above.Again given the current situation are they justified in possibly skimming more money off me.
Any replies greatly appreciated

jimjames

If the return is based on the FTSE100 level then thats how it is calculated. There is no connection between LIBOR and FTSE. The FTSE is based on the value of the top 100 companies in the UK stockmarket.

One reason why I think these plans are such bad choices is shown by the return you have got.

You need to find out what the relevant values are for the calculation which should be in your documentation. The FTSE has risen quite a bit over the last week or so.

Pulling out the other investment before its final date may cost you a lot more so it would be worth checking the details before you make that decision.

talexuser

Vert difficult if not impossible to prove a link between libor and the ftse so I think you are on a loser there, index is lower now than 2007.

If your other one was taken out at the bottom of the market at the very end of 2008 you may have more luck there.