New capital protected player

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Savings & Loans has launched an innovative offer in New Zealand designed to generate a high return with the benefit of 100% capital protection provided by Merrill Lynch, one of the world's leading wealth management, capital markets and advisory companies.

Tuesday, July 17th 2007, 6:53AM

Kauri Notes are a limited recourse interest bearing debt security intended to provide investors with a quarterly coupon at a 9.50%, featuring 100% principal capital protection from Merrill Lynch, and the likelihood of even greater returns upon redemption, which based on track record could be between 11.61 and 17.13%.

The product also features a guarantee of interest on the first eight coupon payments, strong and diversified exposure, a secondary market sell-back option, plus the impeccable track-record of the investment managers involved.

"We are very pleased to be able to offer a product that provides a combination of high security, high performance and flexibility. The offer has already received strong interest from a broad range of the New Zealand investing public, and we believe will be a sensible part of any diversified investment portfolio," Savings & Loans Director Don Cowie says,

Fellow director Maurizio Piglia, who has had a professional funds management and treasury operations career in Italy and Switzerland over the last 15 years, was instrumental in the development of Kauri Notes.

Piglia says Savings and Loans has developed a product that combines all the features which we believe are appropriate for this investment market.

"As a result, Kauri Notes is an attractive, flexible, competitive, and stable product that is well suited to all market conditions."

For more on Kauri Notes see this month's Special Report

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