Lowes Structured Investment Centre

Lowes Structured Investment Centre

Mariana 10:10 Plan February 2023 (Option 1)

Potential for a 9.5% gain for each year held, payable on any anniversary from year two onwards provided the FTSE Custom 100 Synthetic 3.5% Dividend Fixed Index (FTSE CSDI) is at, or above, a reducing reference level - see further info for details. This investment was designed in conjunction with Lowes Financial Management – please see ‘Opinion’ for more information, including disclosure of our interests.

Auto-Call / Kick-Out

Capital at Risk


FTSE CSDI (Custom 100 Synthetic 3.5% Fixed Dividend Index)


Morgan Stanley

10 years 2 weeks max.




This maximum ten-year and two-week plan features the potential to mature on any of the plan's anniversaries from year two onwards, returning the capital investment in full, plus a 9.5% gain for each year the plan has been in force. The plan will mature early in the event that the FTSE CSDI closes at, or above a reducing reference level which reduces each year from year two onwards. The Reference Level in year two is 102.5% of the Initial Index Level and this level is reduced by 2.5% on each subsequent anniversary and so will be 100%, 97.5%, 95%, 92.5%, 90%, 87.5%, 85% and 82.5% of the initial level for years three, four, five, six, seven, eight, nine and ten respectively. If the plan fails to mature early and the Final Index Level is more than 17.5% below the Initial Index Level, no gain will be achieved; however, investors' capital should still be returned in full, unless the Final Index Level is more than 30% below the Initial Index Level. If such a fall does occur, the invested capital will be reduced by 1% for every 1% the Final Index Level is below the Initial Index Level. For example, if the plan fails to mature early and the Final Index Level is 35% below the Initial Index Level, investors' will suffer a 35% reduction to their invested capital. The FTSE CSDI was created specifically for structured products. It aims to closely replicate the performance of the same 100 companies, but after including the dividends – the equivalent to the FTSE 100 ‘total return’ index, from which, a constant annual dividend of 3.5% is deducted. The FTSE CSDI is very highly correlated to the FTSE 100 Index, and may therefore be expected to perform in a similar way to the FTSE 100 Index although, it would be expected to slightly underperform the latter if the total dividend yield transpires to be less than 3.5%.

Initial Index Level: The closing level of the Index on 24 February 2023.

Final Index Level: The closing level of the Index on 24 February 2033.

Tax Treatment if held outside Tax Shelter: The product literature states that under current legislation any gain produced by this investment at redemption will be subject to Capital Gains Tax rules applicable at that time.

Please note, tax rules and legislation are subject to change at any time.

Administrator:  James Brearley & Sons

Custodian:  James Brearley & Sons

Capital at Risk Barrier Observation: (Subject to Counterparty Solvency)

Capital at Risk Barrier Observation Type: End of Term only

Barrier Level: 30.00% Below Initial Index Level

Downside: 1:1

Explanation: If the investment fails to produce a gain, it still aims to return investors' capital in full at maturity, unless the Final Index Level is more than 30% below the Initial Index Level. If such a stock market fall occurs, investors' capital will be reduced in line with the percentage fall in the Index.

Charges: Unless stated otherwise charges do not affect the amount being invested as they have been taken into account in the terms of the investment. So, for every £100 invested, the return, provided the investment is held until maturity, should be £100, plus or minus the gain or loss in accordance with the defined terms. Separate fees may be payable to your adviser, platform or stockbroker for arranging this investment.

The initial charge incorporated in the terms of the investment: Initial charges are not expected to exceed 2%.

If surrendered early, the value will be dependent on a number of factors and may be less than the original amount invested. 

Early Surrender: £200

Early ISA Transfer: £200

Other Charges: