NatWest International Personal Banking has launched Select 85, a structured deposit account with a four and a half year term, to the UK market.

The account is designed around a potential fixed rate paid on a yearly basis, with full capital protection. A fixed rate is earned each year if the “underlying market” remains equal to or above 85 per cent of its initial level throughout the year. The account is offered in sterling or euros; the minimum deposit is £10,000 (about $16,000) or €10,000 (about $13,000).

The three underlying market options are the FTSE 100 Index, the S&P 500 Index or both the FTSE 100 and the S&P 500. If the daily closing level of the chosen index or indices drops below 85 per cent of its initial level on any day within a year, no return will be paid out for that year.

The maximum total potential fixed return over the full term is 15.57 per cent for the sterling option, and 10.89 per cent for euros.