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Merchant Bank Business Plan document sample
Document Sample
OCT 2010
Merchant Capital
Income Plan: Phoenix
merchant-capital.com
9.5% Annual Income
No market growth required for income to be paid
Potential for Plan to mature early from Year One
Underlying Securities Issued by Barclays Bank Plc
This is a Capital at Risk Plan
You could lose some or all of your investment
merchant Capital
Merchant Capital Income Plan: Phoenix 1
Brochure Contents
Merchant Capital — who are we? 1
How the Plan works 2
Availability and Key Dates 3
The Plan, the Issuer and the Securities 4
Is this investment suitable for you? 5
Plan Key Features 6
Income & Capital Return Payments 7
Risk Factors 8
Questions you may have 9
About the Indices 11
About structured products 12
This brochure is a financial
promotion pursuant to s. 21 Why should I consider investing in the Phoenix? 12
of the Financial Services and
Markets Act 2000 and has Terms and Conditions 13
been issued and approved
by Merchant Capital Limited,
which is authorised and
Making your Application 18
regulated by the Financial
Services Authority. Application Forms 19
Merchant Capital — who are we?
Merchant Capital are a financial services company based in the City of
London which offers a broad range of corporate advisory and broking
services together with private wealth management and institutional
investment management services.
The team at Merchant Capital has been developing and offering structured
products, such as the Phoenix Plan, for a number of years and nearly 200
plans currently in issue. Merchant Capital is authorised and regulated by
the Financial Services Authority (whose address is: 25 The North Colonnade,
Canary Wharf, London, E14 5HS).
All plans are administered by Pritchard Stockbrokers Limited on behalf
of Merchant Capital. Pritchard is a well-established private client
investment management and stockbroking business with its head office in
Bournemouth and ten branches throughout the UK.
2 Merchant Capital Income Plan: Phoenix
How the Plan works
★ The Plan is linked to the performance of the FTSE™ 100 Index and the
Dow Jones Euro Stoxx 50® ("the Indices").
★ On each anniversary of the Initial Level, should the closing level of both
Indices be above their Initial Level, a coupon of 9.5% (gross) will be paid
and the Plan will mature early with a full return of capital.
9.5% Annual ★ On each anniversary of the Initial Level, should the closing level of both
Indices be above 75% of their Initial Level, a coupon of 9.5% (gross) will
Income be paid. The Plan will then continue, unless both indices are above their
Initial Level, in which case the Plan matures.
★ If the daily close of business level of either of the Indices falls by 50% or
more from its Initial Level during the term of the Plan and either Index
is below its Initial Level at Final Level, you will lose some and up to all
of your capital.
★ A payment of 9.5% (gross) annually over the investment term is equivalent
Potential for Plan to a return of 57% (gross and non-compounded) at maturity (assuming all
to mature early from income payments are made and the Plan does not mature early).
year one ★ No capital growth is payable.
★ The Plan is designed to be held until either an early maturity is
triggered or the Maturity Date. If you cash in your investment in the
Plan before the Maturity Date the sum you will receive may not reflect
the performance of the Indices to the date you cash in and could be less
than the amount you invested in the Plan.
★ Illustrations showing the returns that would apply in certain examples
are shown on page 7 of this brochure.
Any capital protection and income
offered by this Plan depends on
Barclays Bank Plc remaining solvent.
Investors are referred to the Risk
Factors on page 8.
Merchant Capital Income Plan: Phoenix 3
Availability and Key Dates
Time line
New ISA & Direct Initial Level Maturity Date
Investment Closing Date Close of business 13/12/2010 28/12/2016
06/12/2010
ISA Transfers Final Level
Closing Date Close of business 14/12/2016
29/11/2010
Annual Observation dates
13/12/2011 13/12/2012 13/12/2013 15/12/2014 14/12/2015 14/12/2016
Offer PeriOd investment PeriOd
Plan availability
★ Direct investment by individual or joint investors
★ A Stocks and Share ISA for 2010/2011 (maximum of £10,200 ISA
allowance for each investor)
★ ISA transfers*
★ Investment from SIPPs, SSASs, trustees (including trustees of pension
funds) charities and companies
★ The minimum investment is £5,000 and maximum is £2 million
except as specified (nb. This minimum does not apply to Re-
Investments)
Key Dates — Application Deadlines
ISA Transfers 29 November 2010
Direct investments 6 December 2010
New 2010/11 ISA Applications 6 December 2010
Key Dates — Index Measurement Dates
Initial Level The close of business level of the Index on 13 December 2010
Final Level The close of business level of the Index on 14 December 2016
Maturity Date 28 December 2016
*From 6 April 2008 you have been
able to transfer an existing cash
ISA to a Stocks & Shares ISA.
4 Merchant Capital Income Plan: Phoenix
The Plan, the Issuer
and the Securities
The Plan gives you the opportunity to invest in a structured product. The
Plan is not a deposit or a cash product. Please refer to page 12 for more
information on structured products. The money you invest in the Plan will
be invested by Merchant Capital Limited into securities (the “Securities”)
issued by Barclays Bank Plc (the “Issuer”), which is a UK bank.
These Securities are specifically structured to match the investment
objectives described in this brochure.
These securities are a Medium Term Note which is a type of corporate
bond. Effectively they are a loan to Barclays Bank Plc which Barclays is
obliged to repay at maturity.
We consider the Issuer to be financially strong based on its independent
credit rating by Standard & Poor’s (“S&P”) which has rated the Issuer as 'AA-'
as at 25 October 2010. Companies are rated AAA (Most Secure/Best) to D (Most
Risky/Worst) by S&P. Based on this rating, S&P believes that Barclays Bank
Plc's capacity to meet its financial commitment in relation to this Plan is
very strong, but this is not guaranteed.
Credit ratings can be a useful way to compare the credit risk associated with
different plan providers and related investments. Credit ratings are assigned
by independent companies known as rating agencies, are reviewed regularly
and may change.
It is possible that the Issuer could go bankrupt or be unable to make
payments due on the Securities. In this case, you may lose some or all
of your investment. This is known as Counterparty Risk.
Details of the Plan, explaining how it works and the risks involved, are
included in this brochure which we hope you enjoy reading.
Further information on the Issuer and on the Securities can be found
in the relevant prospectus published by the Issuer in respect of the
Securities. Copies of this prospectus are available on request from
Merchant Capital Limited.
Merchant Capital Income Plan: Phoenix 5
Is this investment suitable for you?
This investment may be suitable if: This investment may not be suitable if:
☐ You understand that the Plan’s returns are ☐ You do not want an investment whose
linked to the performance of the Indices return is linked to the performance of the
which may fall as well as rise. Indices which may fall as well as rise.
☐ You understand that any income payments ☐ You do not feel comfortable with the fact that
and the return of your capital at maturity any income payments and the return of your
of the Plan on 28 December 2016 depend on capital at maturity of the Plan on 28 December
the continuing solvency of the Issuer. 2016 depend on the solvency of the Issuer.
☐ You are comfortable with the fact that ☐ You cannot afford to risk your capital.
your capital may not be returned in full at
☐ You require capital growth from your investments.
the end of the term of 6 years 2 weeks.
☐ You require access to your money during
☐ You want your investment to provide income
the investment term of 6 years 2 weeks.
payments rather than capital growth.
☐ You do not have other savings or investments
☐ You understand that your investment in the Plan
that are easily accessible to cover emergencies.
will NOT provide you with capital growth.
☐ You want to add to your investment from
☐ You can afford to leave your money invested
time to time or at regular intervals.
in the Plan for the next 6 years 2 weeks.
☐ You do not feel comfortable that your investment
☐ You understand that you may not be able to
will ultimately depend on the security of the
cash in your investment in the Plan, but that
Issuer of the underlying investments.
if you can and do cash it in before 28 December
2016 the sum you will get might not reflect ☐ You do not have at least £5,000 to invest.
the performance of the Indices to the date on
which you cash in and you could receive less ☐ You are unsure how the Plan works.
than the amount you invested in the Plan.
☐ You have £5,000 or more to invest.
The factors above are not exhaustive. The product designers at Merchant
Capital Limited do not offer investment advice, nor should the contents
of this brochure be considered as constituting investment advice or as
making any recommendations regarding investments and the information
in this brochure does not constitute tax, legal or investment advice. If you
require advice on the suitability of the Plan for your circumstances you
should contact your independent financial adviser.
Merchant Capital Limited recommends that all customers seek
financial advice before investing. If you do not currently have access
to a financial adviser, Merchant Capital are in contact with a number
of independent financial advisers who will be happy to assist you.
Please phone 020 7332 2205 for further information.
6 Merchant Capital Income Plan: Phoenix
Plan Key Features
*All of the information on this ★ Your subscription will secure an investment in the Merchant Capital
page can be found in greater Income Plan: Phoenix
detail elsewhere in this brochure.
This page is a summary provided ★ On 13 December 2010 the Plan will acquire securities issued by Barclays
for your quick reference Bank Plc
★ The Plan is linked to the performance of the FTSE™ 100 Index and the
Dow Jones Euro Stoxx 50®.
★ Providing that both Indices are above 75% of their Initial Levels on an
annual observation date, income of 9.5% will be paid 5 business days later
by Barclays Capital Plc to Merchant Capital who will then forward this
payment to you within 5 business days. This is the equivalent of 57% (non-
compounded) over the term of the Plan (assuming all income payments
are made and the Plan does not mature early).
★ If on any annual observation both Indices are above their Initial Levels then
9.5% income is paid and the Plan matures early with a full return of capital.
★ The Initial Level of the Plan will be the level of the Indices at the close of
business on 13 December 2010.
★ The Final Level of the Plan will be the level of the Indices at the close of
business on 14 December 2016.
★ At the maturity of the Plan on 28 December 2016, the level of your original
capital to be returned will be dependent on the Final Level of the Indices.
★ If the daily close of business level of either of the Indices falls by 50% or more
from its Initial Level during the term of the Plan and either Index is below
its Initial Level at Final Level you will lose some and up to all of your capital.
The return of your capital in this case will be based on the performance of
the worst performing Index and the loss of capital will be at a rate of 1% for
every 1% that the worst performing Index is below its Initial Level.
★ There are no explicit charges on the Plan at any time, other than an
administration fee for the sale of part or all of your investment prior
to the Maturity Date. The fee for the sale of your investment before the
Maturity Date is £225+VAT which may increase by no more than the RPI in
the future.
★ For arranging this Plan Merchant Capital will receive commission.
Additionally, commission may be paid to a financial intermediary for
introducing you to this investment. The details of any commission paid
will be found in the covering letter that we will send to you on receipt of
your application, along with your Notice of Right to Cancel. Payment of
commission by Merchant Capital does not affect your original investment,
nor returns quoted.
Merchant Capital Income Plan: Phoenix 7
Income & Capital Return Payments
Illustrative potential income payments
Gross
initial investment
Annual Coupon full plan term equivalent
£5,000 £475 £2,850
£7,200 £684 £4,104
£10,200 £969 £5,814
£50,000 £4,750 £28,500
Annual income of 9.5% will be paid provided both Indices are above 75% of
their Initial Levels on an annual observation date. In the event that either of
the Indices are at or below this level income will not be paid for that year.
Illustrative potential capital returns at maturity
if worst performing index has not if worst performing index has
initial final Level of Worst breached 50% barrier during term breached 50% barrier during term
investment Performing index
Capital return explanation Capital return explanation
£10,000 +50% above Initial Level £10,000 Full Capital Return £10,000 Full Capital Return
£10,000 +20% above Initial Level £10,000 Full Capital Return £10,000 Full Capital Return
£10,000 Same as Initial Level £10,000 Full Capital Return £10,000 Full Capital Return
£10,000 –10% below Initial Level £10,000 Full Capital Return £9,000 £10,000 - (10,000 x 10%)
£10,000 –30% below Initial Level £10,000 Full Capital Return £7,000 £10,000 - (10,000 x 30%)
£10,000 –49% below Initial Level £10,000 Full Capital Return £5,100 £10,000 - (10,000 x 49%)
£10,000 –50% below Initial Level £5,000 £10,000 – (10,000 × 50%) £5,000 £10,000 - (10,000 x 50%)
£10,000 –70% below Initial Level £3,000 £10,000 – (10,000 × 70%) £3,000 £10,000 - (10,000 x 70%)
The performance of the Indices will be measured with reference to the
Initial Level, which is taken at the close of business on 13 December 2010
and the Final Level which will be taken at the close of business on 14
December 2016 (in each case, subject to potential adjustment in accordance
with the terms of the Securities).
important note — The tables are
not exhaustive and the Index may
move outside the range of the
illustrated examples. Your Capital
Return is not fully protected and
there is a risk of capital loss. Risk
Factors are set out on Page 8. The
overall return could be less than
your original investment.
8 Merchant Capital Income Plan: Phoenix
Risk Factors
Set out below are the principal
risk factors associated with
investing in the Plan.
What are the principal risk factors?
• Investing in the Plan puts your money at risk. You may • The Plan does not protect you in the event of the failure or
lose some or all of your investment. insolvency of the Issuer.
• The overall return on your investment in the Plan • Your circumstances could change, forcing you to cash in
will depend on the performance of the Indices. Past your investment in the Plan early. In this case the sum you
performance is not an indication of future performance will get back will be calculated as set out in the section
and should not be used to assess the future returns or the entitled "Can I cash in my investment before Maturity?" on
risks associated with your investment. page 10 of this brochure and may be less than the amount
you invested in the Plan.
• Plan returns do not include any returns from dividend
income or participation in corporate actions, as would be • If you exercise the right to cancel after the securities have
the case if you invested directly in the shares underlying been purchased you may not get back your investment in
the Indices. Accordingly, the return on the Plan may, full. Please refer to "What happens if I change my mind
in some cases, be less than the return from a direct about investing?" on page 9 of this brochure for more
investment in these shares which make up these indices. information on your right to cancel.
• You may lose all of your investment if the Issuer becomes • If you choose to make an ISA transfer into the Plan you
insolvent (this is known as Counterparty Risk). Money might have to pay an exit charge to your current ISA
invested in the Plan will buy securities issued by the provider and could lose some investment growth from your
Issuer. If the Issuer becomes bankrupt or goes into current ISA if the market rises while the transfer is being
administration or enters into any other insolvency process carried out.
the payment to you of both income payments and your
• The levels and basis of taxation and reliefs from taxation
capital on maturity will be affected.
can change at any time. The value of any tax reliefs and
• The financial strength and rating of the Issuer may your liability to tax depend on individual circumstances.
change at any time. Tax assumptions are based on Merchant Capital Limited’s
understanding of current legislation and practice, which
• Neither the Financial Services Compensation Scheme nor
may change in the future.
Merchant Capital Limited will pay compensation in the
case of the insolvency of the Issuer. You will only be able to
claim from the Financial Services Compensation Scheme if
Merchant Capital Limited fails to meet its liability to you.
Merchant Capital Income Plan: Phoenix 9
Questions you The maximum ISA investment limit for 2010/2011 is £10,200
per person. You can invest between £5,000 and £10,200 in
may have
the Plan and enjoy any income payments from the Plan tax
free under current tax legislation. Full details will be shown
on the transaction statement(s) we will send you within 10
Business Days of the investment date.
What is my commitment? For ISA transfers there is no limit on the value you can invest
To invest until Maturity, a period of 6 years 2 weeks. At in the Plan by the transfer of the value(s) of your investment
maturity, you will have the option of (i) having the proceeds in existing stock and shares or cash ISAs held currently with
of your investment in the Plan paid out to you; or (ii) if your another ISA Manager(s) (subject to a maximum of £2 million).
investment in the Plan was as an ISA, transferring the ISA to
another person who manages and operates an ISA scheme (an What happens if I change my
“ISA Manager”); or (iii) continuing your investment on terms
mind about investing?
offered by Merchant Capital Limited at that time.
Within 5 business days of accepting your application we will
send you a ‘notice of the right to cancel’. From the time you
What happens to my capital?
receive this notice you will have 14 days to change your mind
Your money will be used by Merchant Capital Limited to and cancel your application. If we receive your request to
purchase Securities issued by Barclays Bank Plc which is rated cancel after we have purchased the Securities you may receive
'AA-' by Standard & Poor's, an independent credit rating agency. back less than your original investment if the value of the
Securities has declined. If you do not cancel your application
The Securities are a structured product combining a range of
within the 14 days period mentioned above and later decide
financial instruments in order to provide exactly the returns
that you no longer want to invest in the Plan, you will need to
explained in this brochure. You should only consider investing
cash in your investment in the Plan as explained in the section
in the Plan if you are prepared to accept risk to your capital
“Can I cash in my investment before Maturity?” on page 10.
and, as the Plan is designed to be held for the full investment
period of 6 years 2 weeks, you do not require access to your
money during the investment term. What information will you give
me about my investment?
What is the tax treatment of a We will send you an acknowledgement within 5 business
direct investment in the Plan? days of acceptance of your application. Within 10 business
days following settlement of the investment in the Securities
If you invest directly in the Plan then it is our understanding
we will send you a statement showing the Securities
that under current legislation any income will be subject to
purchased as a result of your investment in the Plan. After
income tax assessment in the year received. The amount of tax
this, we will issue a bi-annual statement and valuation of
payable will depend on your individual tax position and rates of
your investment, unless you specifically request a statement
income tax and allowances at that time and individuals should
every 3 months.
check with their tax adviser before investing.
Investors who are corporations, trustees, SIPPs, SSASs, charities What will happen to my investment if I die?
etc. should also check with their tax adviser before investing.
We will deal with your investment(s) in the Plan in line
with the instructions of your personal representatives. The
What are the benefits of investment may be transferred to your beneficiaries at no
investing via an ISA? cost or cashed in for which a charge will be made (see “Can
I cash in my investment before Maturity?” on page 10). ISA
UK tax resident investors can enjoy any income payments
investments will lose their ISA status.
from the Plan completely free of tax by investing via an ISA
for the 2010/11 tax year or by transferring an existing ISA
investment to the Plan. The Merchant Capital Income Plan:
Phoenix can only be held as a Stocks and Shares ISA.
10 Merchant Capital Income Plan: Phoenix
How much will any advice cost? Can I transfer my ISA to a new ISA Manager?
If you receive advice from an independent adviser, he or she Yes, you can ask us to transfer your ISA to another ISA Manager
will give you details about the cost. If you are not receiving at any time. If you decide to do so during the term of the Plan
any advice, we may still pay an introducing independent (i.e. before Maturity) we will cash in the Securities we hold
adviser commission. Any commission paid by us will not for you in the Plan on the terms outlined in ‘Can I cash in my
affect the returns quoted in this brochure. Details of any investment before Matiurity’ above.
commission will be provided in the letter accompanying your
Transfers to another ISA Manager before Maturity will, in
'notice of the right to cancel' that you will be sent within 5
addition to the administration charge set out above, incur
Business Days of your application form being accepted.
a transfer charge of £150 (plus VAT), which may increase by
no more than RPI in the future. If you transfer the proceeds
What are the charges?
of your investment in the Plan at maturity to another ISA
There are no initial charges or ongoing charges levied on Manager there will not be a transfer charge.
your investment in the Plan. We will then await instruction
from your provider to action the transfer. This will be your
What do I do if I am not happy with the
responsibility. We will buy the Securities from the Issuer and
we will receive a commission that covers all the Plan Manager's
way you are dealing with my plan?
administration costs and the cost of any commission we pay to We have set ourselves high standards of customer care but if we
authorised financial advisers. Details of this commission will be fail to meet these, please let us know and we will endeavour to
provided in the letter accompanying your 'notice of the right rectify the issue as quickly as possible. If we do not deal with your
to cancel'. concerns you are within your rights to make a complaint. We
have a written complaint procedure and we can provide for a copy
There are also charges if you decide to cash in your investment
of this at any time. If you are not happy with how we deal with
in the Plan or to transfer your ISA investment in the Plan out
your complaint, you can refer it to the Financial Ombudsman
of the Plan before Maturity as explained below.
Service at South Quay Plaza, 183 Marsh Wall, London E14 9SR.The
Financial Ombudsman Service allows disputes to be resolved
Can I cash in my investment quickly and with minimum formality by an independent person.
before Maturity? Making a complaint to the Financial Ombudsman Service will not
affect your right to take legal action. Please refer to Sections 19a
Yes, but before you do so you should remember that the
and 19b of the Terms and Conditions for information regarding
Plan is designed to run for the full investment term. While
the Financial Services Compensation Scheme.
Barclays Bank Plc intends, under normal market conditions,
to indicate prices for the Securities on a daily basis there can
be no assurance that any prices will be indicated. If you do Will you advise me whether the
decide to cash in your investment in the Plan early you should Plan is suitable for me?
write to us with instructions to sell the Securities held for you
The product designers at Merchant Capital Limited do not give
in the Plan and to send the net proceeds to you or to another
you any advice as to whether the Plan is suitable for your own
ISA Manager. We will then await instruction from your ISA
specific circumstances. If you do need such advice, or guidance
Manager to action the transfer. This will be your responsibility.
on tax, you should consult an independent financial adviser for
We will usually be able to complete your instructions within
financial advice and/or a tax adviser. Merchant Capital Limited
28 days. The value of your investment in the Plan will be
recommend that all customers seek financial advice before
determined by the price at which we can sell the Securities
investing. If you do not currently access to a financial adviser,
held for you in the Plan. This price will depend on a number of
Merchant Capital Limited are in contact with a number of
things, including prevailing interest rates, the performance of
independent financial advisers who will be happy to assist you.
the Index and the limited secondary market in the Securities.
Please phone 020 7332 2205 for assistance.
As a result the amount that you will receive, if you cash in
your investment in the Plan early, may be lower than the
capital you originally invested in the Plan. There will also be an What if I have other questions?
administration charge of £ 225 (+ VAT) which may increase by
You are advised to contact your independent financial adviser
no more than the Retail Price Index (RPI) in the future.
or to contact Merchant Capital Limited on 020 7332 2205.
Merchant Capital Income Plan: Phoenix 11
About the Indices
Neither STOXX nor Dow Jones shall be liable (whether in
negligence or otherwise) to any person for any error in the
Index nor shall they be under any obligation to advise any
person of any error or omission therein.
FTSE™ 100 Index FTSE™ 100 DISCLAIMER: “FTSE™” and “Footsie®” are trade
A share index of the 100 most highly capitalised UK marks of the London Stock Exchange plc (the “Exchange”)
companies listed on the London Stock Exchange. Its and The Financial Times Limited (“FT”). The Plan is not
performance is dependent upon the performance of those in any way sponsored, endorsed, sold or promoted by the
companies within the Index. The Index began on 3 January Exchange or by FT and neither the Exchange nor FT makes
1984 with a base level of 1000. FTSE™ 100 companies represent any warranty or representation whatsoever, expressly or
81% of the market capitalisation of the whole London Stock impliedly, either as to the results to be obtained from the use
Exchange. The Index is calculated in real-time and published of the FTSE™ 100 ("the Index") and/or the figure at which the
every 15 seconds. said Index stands at any particular time on any particular
day or otherwise. The Index is compiled and calculated by
The constituents of the Index are determined quarterly and or on behalf of FTSE. However, neither the Exchange nor FT
the five largest constituents as of October 2010 were: HSBC shall be liable (whether in negligence or otherwise) to any
Holdings PLC, Vodafone Group PLC, BP PLC, Royal Dutch Shell person for any error in the Index and neither the Exchange
PLC and GlaxoSmithKline PLC. nor FT shall be under any obligation to advise any person of
any error therein.
Dow Jones Euro Stoxx 50®
A free float market capitalisation weighted share index that the indiCes
aims to provide a Blue-chip representation of supersector
leaders in the Eurozone. It covers Austria, Belgium, Finland, 700
France, Germany, Greece, Ireland, Italy, Luxembourg, the Euro Stoxx
Netherlands, Portugal and Spain. The Index began on 31 600
December 1986 and was rebased to 1000 on 31 December 1991. FTSE 100
500
The constituents of the Index are determined annually and
some of the well known constituents include: Siemens, Nokia, 400
BMW, L'Oreal, AXA, Unilever NV and Anheuser-Busch Inbev.
300
The graph opposite shows the performance of the Indices since
31 December 1986. You should, however, bear in mind that past
200
performance is not a guide to performance in the future.
100
Index Disclaimers 0
The Plan is not in any way sponsored, endorsed, sold or 31/12 19/11 08/10 27/08 15/07 03/06 20/04
1986 1990 1994 1998 2002 2006 2010
promoted by STOXX Limited (“STOXX”) or Dow Jones &
Company, Inc. (“Dow Jones”) and neither of the STOXX nor
Source: Bloomberg, 25 October 2010
Dow Jones make any warranty or representation whatsoever,
either expressly or implied, either as to the result to be
obtained from the use of the Index and/ or the figure at
which the said Index stands at any particular time on any
particular day or otherwise. The only relationship of STOXX
to the Plan is as the licensor of the Dow Jones Eurostoxx 50
Index (the “Index”) and of certain trademarks, tradenames
and service marks of STOXX and as the sublicensor of certain
trademarks, trade names and service marks of Dow Jones.
The Index is determined, composed and calculated by STOXX.
12 Merchant Capital Income Plan: Phoenix
About structured Why should I
products consider investing
Some structured products offer an element of capital security on
your investment, i.e. at the end of a specified term, your capital
in the Phoenix?
will be repaid in full, provided the Issuer remains solvent.
The interest rate that the Bank of England set in the UK
All stock market related investments involve a degree of risk, remains at a record low of 0.5% making it harder to save for the
as their value can go down as well as up. Some investments, average investor. Investing in a 5 year government bond will
such as the Plan are known as ‘structured products’ because yield just under 2% and some of the best cash ISAs are paying
they change the risk and the return that can normally be between 2.50% and 3.00% AER.
expected from an investment in the stock market. To do so
For investors who are looking for an investment that will
they invest in securities which are called derivative products
potentially pay a regular income stream that is significantly
because their return is linked to or “derived from” the
higher than those mentioned above, the Merchant Capital
performance of the stock market.
Income Plan: Phoenix, will come as welcome relief. It offers
The structured products which do not offer an element of potential income of 9.50% per annum, paid on an annual basis
capital security are called ‘capital-at-risk’ investments. They as well as giving the opportunity for early maturity with full
offer either enhanced income or growth prospects, whilst capital return and coupon payment for that year if certain
putting conditions on how or whether your capital will be criteria are met, as described in this brochure.
repaid when the investment matures. The Plan is a “capital-
Merchant Capital believe that the Plan will provide investors
at-risk” product.
with a high level of income in markets that are flat or even
However remote the likelihood of bankruptcy of an issuer falling. From speaking to IFAs, Merchant Capital are fully aware
might be, the risk will always exist. To reduce this risk, we that capital protection is also very important to investors so
suggest that structured products are used only as part of a this Plan has been designed to mitigate the loss of capital with
broader portfolio and that investors diversify their structured a 50% protection barrier.
product investments across a range of issuers.
The Plan is backed by Securities issued by Barclays Bank Plc.
Should you require further information about structured Barclays Bank Plc offers commercial and investment banking,
products and capital-at-risk products please contact your insurance, financial asset management and related services.
independent financial adviser. You could also visit The company’s subsidiaries operate branches in the UK
www.moneymadeclear.fsa.gov.uk. and overseas. Standard and Poor’s, the credit rating agency,
currently rate Barclays Bank Plc as ‘AA-’. They describe this as
an issuer that has very strong financial security characteristics,
differing only slightly from those rated higher.
Barclays Bank Plc does not sponsor or endorse
the Merchant Capital Income Plan: Phoenix
Merchant Capital Income Plan: Phoenix 13
Terms and
market disruption event — a market We, Us, Our — Merchant Capital Limited,
disruption event as determined by the authorised and regulated by the FSA, or Our
Calculation Agent (acting in good faith and representative.
Conditions in a commercially reasonable manner) in
accordance with the terms and conditions of You, Your — the investment holder(s) named
the Securities. on the Application Form.
These Terms and 2. services We provide
maturity date — 28 December 2016.
Conditions apply to the
Plan — Merchant Capital Income Plan: a. We will be responsible for buying and
Merchant Capital Income Phoenix, the investment product described in selling all Securities. We will purchase the
Plan: Phoenix (“the Plan”) the Brochure which is made up of Securities Securities from the Issuer on terms that are
and cash that the Plan Manager handles for You. at least as favourable as those that We can
which must be read in obtain when dealing via an intermediary who
conjunction with the Plan manager — Merchant Capital Limited, specialises in buying and selling securities
in its capacity as manager and operator of on behalf of others. If You cash in Your
Application Form. the Plan. investment in the Plan early, We will sell the
Securities which are held for You in the Plan
1. definitions Pritchard — Pritchard Stockbrokers Limited, either directly or via an intermediary on the
authorised and regulated by the FSA, is a best terms reasonably available at the time.
Application form — the relevant form that well established private stockbroking firm
must be correctly completed by You, for the contracted by Merchant Capital Limited b. There may be times when We, or one
Plan Manager to set up Your investment in to provide administration, settlement and of Our clients, have some kind of interest in
the Plan as an ISA or a Direct Investment. custody services in relation to its plan the transaction that is being carried out. If
management business this happens, or We become aware that Our
Brochure — pages 1 to 18 of this document.
interest or that of Our other clients conflicts
Prospectus — the relevant prospectus with Your interest We will tell You, and ask
Business day — any day other than a
relating to the Securities published by the Your permission, before any transaction is
Saturday, Sunday, bank holiday or other UK
Issuer, copies of which are available on carried out.
public holiday.
request from the Plan Manager.
Calculation Agent — Barclays Capital c. We have a culture whereby We manage
regulations — ISA Regulations in force conflicts of interest fairly. To achieve this We
Securities Limited.
for the time being. If there is any conflict have identified potential conflicts which may
Capital return — the return at maturity of between the Regulations and these Terms, arise in the course of providing services to Our
some or all of your original investment. the Regulations will apply. clients, apportioned responsibility for conflict
rules — the rules of the FSA with which management to appropriate personnel and
direct investment — any investment in the put in place a policy to manage any conflicts
Plan that is not an ISA. Merchant Capital Limited must comply. If
there is any conflict between the Rules and and ensure that transactions are effected on
extraordinary event — an extraordinary these Terms the Rules will apply. terms which are not materially less favourable
event as determined by the Calculation Agent to You than if the conflict or potential conflict
(acting in good faith and in a commercially scheduled trading day — means a day had not existed and We keep a record of any
reasonable manner) in accordance with the on which the London Stock Exchange or conflicts and Our systems and procedures
terms and conditions of the Securities. other relevant exchange and the London to manage potential conflicts effectively.
International Financial Futures and Options The potential areas of conflict cover such
fsA — the Financial Services Authority, Exchange (LIFFE) are scheduled to be open for instances as personal dealings, commissions,
25 The North Colonnade, Canary Wharf, trading for their respective regular trading fees, security of information, commercial
London, E14 5HS. sessions. interests and fair dealing. Further details are
available on request.
indices — the FTSE™ 100 Index and the Dow securities — the underlying qualifying
Jones Euro Stoxx 50® Index. investments issued pursuant to the relevant d. For Your security and for training and
Prospectus and purchased by the Plan monitoring purposes telephone conversations
isA — an Individual Savings Account set up Manager for the Plan to provide the income may be recorded.
by the Plan Manager in line with these Terms payments (if any) and Capital Return (if any)
and the Regulations. set out in the Brochure. 3. Your Application
isA manager — Pritchard Stockbrokers subscription — any amount paid by You into a. Under these Terms We may accept a
Limited, the firm which manages and the Plan. completed Application Form and Subscription
operates an ISA scheme. from You. We have the right to reject an
terms — these terms and conditions. Application Form for any reason.
issuer — Barclays Bank Plc.
b. You must invest in an ISA with Your
own cash or by transferring cash from an
14 Merchant Capital Income Plan: Phoenix
existing ISA. Transfers of existing ISAs will respect of the Plan and that You are not relying f. If, for any reason, We are unable to
normally be arranged with the existing ISA on any communication (written or oral) from purchase securities to fulfil the commitments
Manager. Once the ISA has been transferred Merchant Capital Limited in their capacity as set out in the brochure Your Subscription will
and received by Us, these Terms will apply to Plan Manager. be returned to You.
Your ISA.
4. Client Classification g. In the event of the Issuer becoming
c. By completing the Application Form, unable to meet its obligations to repay the
You instruct Us to choose and buy at Our In order to ensure that all investors amounts due You could lose some, or all, of
discretion Securities that have been designed receive the appropriate level of regulatory Your Subscription.
to provide the benefits of the Plan as described protection, based on their knowledge and
in the Brochure. experience We undertake a classification of 6. Your right to change Your mind
all of Our clients. Unless otherwise agreed
d. If We have to cancel or void Your ISA with You in writing, all Our clients will be a. Within 5 business days of accepting
under the Regulations, You authorise Us to treated as ‘Retail Clients’ and as such will your application we will send you a ‘notice of
hold Your Securities outside the ISA as a Direct benefit from the highest level of regulatory the right to cancel’. From the time you receive
Investment. In such an event these Terms protection. Clients who could fall outside this this notice you will have 14 days to change
will continue to apply to Your investment in classification include: regulated or authorised your mind and cancel your application.
the Plan as a Direct Investment and none of entities, public bodies that deal with debt, b. If We have bought Securities before We
the tax benefits of an ISA will apply to Your institutional investors, international or receive Your completed cancellation request
investment in the Plan. If We have to void Your supranational financial organisations and the amount You will receive may be less than
ISA because You are not eligible to apply for large undertakings that meet certain size the amount of Your Subscription, if the price
the ISA We have the right to deduct any costs requirements. Clients who meet these criteria at which We sell the Securities is less than
or expenses We reasonably incur in voiding should notify Us in advance. These clients will the price paid for them.
Your ISA and transferring Your investment in be treated as ‘Professional Clients’ and benefit
the Plan to a Direct Investment. from a lower degree of regulatory protection c. If You cancel a ISA transfer application
unless they specifically request to be classified and do not tell Us at that time the name
e. If Your investment in the Plan is an as ‘Retail Clients’ and qualify as such. of another Plan Manager You want to
ISA and You live in the UK, You will not, under transfer the investment to We will sell Your
current tax rules, have to pay UK income 5. Basis of dealing investment and send the sales proceeds to
tax or UK capital gains tax on any income You. This means that the ISA status of the
payments or capital growth You make from a. We, or Pritchard, may choose and
instruct brokers or dealers to buy, sell and deal investment will no longer apply.
Your investment in the Plan but any losses on
Your investment in the Plan will be ignored in Securities for Your Plan or We may do so 7. Cash held
for the purposes of UK capital gains tax. ourselves as licensed dealers or brokers.
a. You must invest at least £5,000 in the
f. If Your investment in the Plan is a b. We may keep all commissions or profits Plan and may invest up to £2 million.
Direct Investment You may, depending on arising from those transactions. Your Plan will
Your circumstances, have to pay tax on any be debited immediately We buy investments b. Money and investments are controlled
interest or income payments You receive on Your behalf. We do not have to account for by Us and held on Your behalf by Pritchard,
and/or on any capital gain from selling Your any interest earned pending settlements i.e. who also act as the ISA Plan Manager.
investment in the Plan. interest earned on cash held while We are
waiting to pay for Securities We have bought c. Pritchard hold all money belonging
g. We will ensure that any person to or pay You for Securities We have sold. to clients in a separate client account, which
whom We delegate any of Our functions is identified as a trust account. All clients’
or responsibilities under these Terms is c. The amount(s) We commit to invest money is separated from the funds belonging
competent to carry out those functions and in Securities to be held in Your Plan will to Pritchard.
responsibilities and We will review them not extend beyond the amount of cash and
investments placed by You under Our control. d. Pritchard hold Your Subscription in
regularly in order to ensure that the functions
a client account until We make a payment
and responsibilities delegated are carried d. We will be acting as Your agent in on Your behalf to purchase the Securities
out to the standard that could reasonably be arranging to buy these Securities. to be held in the Plan on Your behalf. At the
expected from persons carrying out these
Maturity Date, or if We sell the Securities
types of functions or responsibilities. e. We may combine Your order with before the Maturity Date, Pritchard will hold
orders of other clients when processing the proceeds in the client account, pending
h. The taxation statements in Conditions them. If this results in Us getting a number
3d, 3e and 3f are based on Our understanding of Your instruction to either reinvest the
of transactions at different prices, all clients proceeds in a new plan with Us or to pay the
current tax legislation, regulation and practice. involved in the transactions will pay or
Such tax legislation, regulation and practice are proceeds to You, or to transfer the proceeds to
receive the same average price. If You ask Us a new ISA Manager.
subject to change in the future and nothing in to, We will provide details of how We work
this Brochure constitutes tax advice. out the average price. e. We will invest money held for You
i. You confirm that You have had the in Pritchard’s client account in Securities
opportunity to take independent tax advice in to be held in the Plan for You in line with
Merchant Capital Income Plan: Phoenix 15
the requirements of the Regulations (if for Us to receive payment from the Issuer. The 10. Keeping You informed
applicable) and the Rules. payment received by Us will be used to pay
the costs associated with the establishment a. We will send You an acknowledgement
f. Pritchard will inform You periodically of Your Plan and ongoing administrative costs of Your Application Form within five Business
if they hold cash within an ISA pending and is taken into account in the way in which Days of acceptance of your application.
reinvestment. If such cash is held for a long Plan benefits are structured and does not
period HM Revenue and Customs could void b. We will send You an initial transaction
therefore have any affect on the calculation statement, setting out details of the
the ISA status of Your investment in the Plan. of the income payments and Capital Return Securities purchased for You as a result of
g. Pritchard shall continue to treat funds described in the Brochure. Your investment in the Plan and details of
allocated to investors in the Plan which b. We will receive a commission from commission.
remain unclaimed after the Maturity Date the Issuer in respect of Our relationship with
of the Plan as client money, in accordance c. We will give You a report and
them. From this amount We pay all the costs valuation of Your investment in the Plan at
with the Rules, for a period of six years. incurred in marketing the Plan, including
You consent to any money held in a client 6 monthly intervals (unless you specifically
the production of brochures, commissions request a statement every 3 months), as set
account by Pritchard for You for more than to financial advisers etc and the remainder
six years being released and no longer treated out in the Brochure and at any other specific
is set aside for the ongoing administration event throughout the life of the Plan.
as client money by Pritchard in accordance of Your Plan. This will be no more than 6%
with the client money Rules. of the total investments of the Plan. The d. If You ask, You will receive any
8. the Plan investments actual commission figure will be detailed information issued to holders of the
in the cover letter of your 'notice of right to Securities.
a. All Securities allocated to Your Plan cancel'. These costs and the commission We
will be registered in the name of, and kept in receive from the Issuer have already been e. At all times You, or Your nominated
the custody of, Prism Nominees Limited (a taken into account in the development of the agent, can ask to see all entries in Our records
wholly-owned subsidiary of Pritchard). Prism Plan and, other than when You cash in Your relating to any transactions relating to Your
Nominees Limited is not itself authorised investment in the Plan early (or transfer Your investment in the Plan. We will maintain
under the Financial Services and Markets ISA investment in the Plan to another ISA these records for at least six years after the
Act 2000, but Pritchard accepts responsibility Manager before the Maturity Date), there are transaction date.
for its acts and omissions. Merchant Capital no charges associated with Your investment
f. All information and correspondence
Limited will have recourse to Pritchard on in the Plan and any payments from the Plan
may be provided in electronic format via
Your behalf. will be in accordance with the description
email and/or web services. We may offer
contained on page 7 of the Brochure.
b. Pritchard will not lend documents alternative media for information and
of title to the Securities to any other person c. If You cash in Your investment in the correspondence from time to time.
and money may not be borrowed by You or Plan before the Maturity Date as set out in
g. All information, correspondence,
on Your behalf against the Securities or these Condition 12 there will be an administration
and communication between Us will be in
documents of title. charge of £225 plus VAT, which may increase
English.
by no more than RPI in the future.
c. You will be the beneficial owner of the h. We will write to You at the address
Securities and of any cash held in the Plan. d. If Your investment in the Plan is via an
provided on Your Application Form or such
ISA and You transfer its value to another ISA
d. Unless You tell Us otherwise, We other address as You may subsequently notify
Manager before the Maturity Date, as set out
may (if the Regulations allow) make to Us in writing. Please therefore remember
in Condition 11 there will be a transfer charge
arrangements, when appropriate, to use the to tell Us promptly if Your address changes.
of £150 plus VAT, which may increase by no
voting rights of Your Securities. more than RPI in the future (in addition 11. transfers
to the administration charge set out in 9(c)
e. The value of the Securities and of Your a. If Your investment in the Plan is in an
above).
investment in the Plan may fall as well as ISA, You have the right to transfer Your ISA to
rise due to market movements and where e. We reserve the right to charge an another ISA Manager at any time.
applicable, exchange rate fluctuations. administration fee of up to 1% plus VAT of the
maturity value of your Plan on any monies b. You must make any request to transfer
f. Prior to the Maturity Date of the Plan Your ISA in writing.
held on your behalf which are not re-invested
We will contact You to explain the various
within six months of the Maturity Date of your
options available to You at that time. c. If You elect to transfer prior to the
Plan.
Maturity Date the sale of the Securities
9. Charges You hold will be carried out as described in
f. We reserve the right to increase the
a. Other than described in Conditions 9b, charges set out in Conditions 9c & 9d in line Conditions 12a & 12b. The charges outlined
9c, 9d & 9e We will not deduct any charges, with rises in the Retail Prices Index. in Condition 9c & 9d will be deducted from
fees or expenses from the Plan. The terms the sale proceeds before payment to the new
under which We will purchase the underlying ISA Manager.
securities on Your behalf include the provision
16 Merchant Capital Income Plan: Phoenix
d. You cannot transfer part of re-register the ownership of the Plan to of Pritchard in the performance of Our
Your ISA. maintain it to the Maturity Date. obligations under these Terms; or
e. All transfers will be subject b. If Your personal representatives elect • breaking these terms or a Financial
to the Regulations. to encash the Plan, the charge outlined in Services Authority rule or the Regulations.
Condition 9c will apply.
12. Cashing in Your investment in the We will not be liable to You for any act
Plan before the maturity date c. If Your Plan is an ISA it will cease to be or fraud by any person, firm or company
exempt from tax from the date of death. through or with whom transactions are
a. You may cash in Your investment carried out on Our behalf (other than
in the Plan at any time by giving Us Your 15. Prevention of money Laundering Pritchard and its employees).
written instructions. This will not affect any
transactions We have already started to carry a. All transactions relating to this Plan b. We will not be liable or have any
out. You will be charged an administration are covered by the Proceeds of Crime Act responsibility of any kind for any loss or
charge of £225 plus VAT, which may increase 2002 and the Money Laundering Regulations damage You suffer as a result of any failure,
by no more than RPI in the future. We will 2007 (as amended from time to time) and the interruption or delay in carrying out Our
sell the Securities held in the Plan for You guidance notes provided by the Joint Money obligations resulting from:
as soon as possible after receipt of Your Laundering Steering Group.
instruction and pay the net proceeds to You. • Breakdown or failure of any
b. To enable Us to comply with the UK telecommunications or computer service;
We will usually carry out this procedure Money Laundering requirements and the
within 28 Business Days. Rules We may carry out electronic checks • Failure of people other than Us and
b. The value of Your investment will on Your identity prior to buying or selling Pritchard to carry out their obligations;
be determined by the market price of the Securities for You. It might be necessary for
Us to request, and for You to provide, further • Acts of governments or
Securities held in the Plan for You on the international authorities;
date of sale. The price may reflect the limited information as part of this process, such as
market in the Securities. proof of identity and evidence of address. • Any other event or circumstance
c. If We are unable to verify Your identity that is not reasonably within Our control
c. Prior to cashing in Your investment in when We have made all reasonable efforts to
the Plan or transferring its value to another within a reasonable time it may be necessary
to freeze Your investment in the Plan until minimise the consequences of such events.
plan manager You should consider that
the Plan is designed to be held for the full satisfactory evidence of identity has been c. If a Market Disruption Event, or any
investment term. obtained. adjustment event relating to the Index as
16. Providing information to hm determined by the Calculation Agent occurs,
d. Once You cash in Your investment the Calculation Agent may make necessary
in the Plan We will not carry out any revenue and Customs
adjustments to the terms of the investments
transactions, except to allow Us to return a. You authorise Us to give HM Revenue in their sole and absolute discretion, acting in
the proceeds of the sale of the Securities or and Customs all relevant details of Your good faith and in a commercially reasonable
other qualifying investments to You, or as investment in the Plan, which they may manner. This may include termination of the
specifically requested by You and subject to reasonably ask for at any time. investments.
new terms and conditions.
b. We will tell You if the ISA has or will Market Disruption Events include but are
13. termination become invalid. not limited to the calculation or publication
a. The agreement between You and Us of the Index level by the index sponsor on
17. Communications a Scheduled Trading Day being disrupted,
under these Terms will be terminated either and unwanted calls
on the Maturity Date,or if You transfer Your altered or delayed or a disruption occurring to
ISA in accordance with Condition 11 or if You a. We will usually only communicate the London Stock Exchange, and/or the LIFFE.
cash in Your investment in the Plan early in with and report to You in writing. Adjustment events relating to the Index
Accordance with Condition 12. include, but are not limited to, the Index
b. You give Us permission to
b. If the agreement between You and communicate by e-mail or to phone You if We being replaced by a successor index, a
Us under these Terms terminates on the need to do so but only at a reasonable hour. material modification in the formula or
Maturity Date, We will return the capital to method of calculating the Index, a permanent
which You are entitled as explained at pages 2 18. Liability cancellation of the Index, a correction of an
and 7 of the Brochure. Index level which has already been utilised
a. We will carry out the duties described by the Calculation Agent or the Index
14. death in these Terms using all reasonable care and Sponsor's failure to calculate and announce
skill, but We will only be liable to You for: the Index level.
a. In the event of Your death during
the term of the Plan We will act on the • Our negligence, wilful default or Examples of adjustments that may need
instructions of Your personal representatives. fraud, or that of Pritchard or any employees to be made include, but are not limited to:
If they elect to do so they are able to postponing taking the level of the Index on
Merchant Capital Income Plan: Phoenix 17
the date which such event occurs, using a with them will be governed by the laws of
reasonable alternative method of calculating or England and will come into force when We
estimating the value of the Index, terminating receive Your signed Application Form.
the investments by giving prior notice.
21. enforcement
d. By completing the declaration on the
Application Form You will be bound by these a. Should any of these Terms be
Terms. Therefore, We recommend for Your held to be unenforceable the validity and
own benefit and protection that You should enforceability of the remaining provisions
read these Terms carefully before signing the shall not be affected and the unenforceable
Application Form. If there is anything that provision will be replaced by an enforceable
You do not understand, please contact Your provision which comes closest to the
financial adviser. intention underlying the unenforceable
provision and which is of similar economic
19. Protecting Your investment effect and does not worsen Your position.
in the Plan
b. Our failure to enforce any provision
a. We are covered by the Financial of these Terms will not constitute a waiver
Services Compensation Scheme. You may of Our right to subsequently enforce such
be entitled to compensation from the provision or any other provision of these
scheme if We cannot meet Our obligations Terms. None of Our employees, officers or
towards You. This would depend on the type agents may verbally alter, modify or waive
of business and the circumstances of the any provision of these Terms.
claim. Most types of investment business are
covered for 100% of the first £50,000 so the 22. data Protection statement
maximum compensation is £50,000. You can a. We may hold personal and financial
get more information about compensation information on computer and manual
arrangements from the Financial Services systems and use this to:
Compensation Scheme (www.fscs.org.uk).
• Handle and service Your investment in
b. If the performance of the investments the Plan; and
does not match the illustrated benefits, You
will not, for that reason alone, be entitled • Put together statistics for assessment
to any compensation under the Financial and analysis of the services We provide and
Services Compensation Scheme. Furthermore, of the Plan.
if the Issuer becomes insolvent You will
not be entitled to compensation under the b. We may make Your personal and
Scheme for that reason alone. financial information available:
c. You may complain about any aspect • To Pritchard;
of the service You receive from Us to the
• To Your financial adviser by e-mail
Compliance Officer at the address shown on
or other means, including a secure internet
the back page of the Brochure. If You ask,
service;
We will send You written details of how We
will deal with Your complaint. If You are not • As We are obliged to under the
happy with how We have dealt with Your requirements of any law, regulation or court
complaint, You can complain to the Financial order that We must follow;
Ombudsman Service at South Quay Plaza II,
183 Marsh Wall, London E14 9SR. Making a • To You if You ask (for a fee).
complaint will not affect Your right to take
c. We or Pritchard may contact You
legal action.
by mail, phone or e-mail with products or
d. We maintain insurance cover to services that may interest You, unless You
indemnify clients against (among other have ticked the appropriate box on the
things) any of Our employees dishonestly Application Form.
or fraudulently using funds or securities or
other qualifying investments.
20. Governing law
a. These Terms and any non-contractual
obligations arising from or in connection
18 Merchant Capital Income Plan: Phoenix
Making your Application
Before you invest The different application
in the Plan forms that follow:
Before you make your mind up
Direct
to invest in the Plan you should
have read and understood all the To be used for New 2010/2011 ISAs and direct investments, including those
information in this brochure. for joint investments and investments for children under the age of 18.
Merchant Capital Limited
ISA Transfer
recommends that all customers
seek financial advice before To be used for ISA Transfers.
investing. If you do not currently
have access to a financial adviser, Re-Investment
Merchant Capital Limited have
contacts with a number of To be used where you already hold a matured Merchant Capital / Keydata
independent financial advisers who Investment Services / Dawnay Day Quantum / Arc Capital & Income plan
will be happy to assist you. Please that Merchant Capital now administer. There is no minimum investment
phone 020 7332 2205 for assistance. on a Rollover Application.
Remember, the information in
Pension
this brochure does not constitute
tax, legal or investment advice and To be used where you are investing through a Pension or are a Trustee of a
neither Merchant Capital Limited Pension.
(in their capacity as Plan Manager)
nor Pritchard Stockbrokers Limited Company
has given you any tax advice.
To be used where you are investing through a Charity, Company,
Once you have satisfied yourself that Partnership or Trust.
you do want to invest in the Plan
you should complete the appropriate
Application Form following the All cheques should be made payable to:
instructions on the form. Pritchard Stockbrokers Limited Client Account
Please indicate if you have received
If you are applying on behalf of a Trust/ Company/ Partnership/ Pension
financial advice on the appropriate
please call 020 7332 2205 or visit our website
form. If you did not receive advice
(www.merchant-capital.com) to receive the appropriate application form.
please ensure you answer all of
the appropriateness questions.
If you do not, we are unable to
determine whether the Plan is
appropriate for you and we may
reject your application unless you
provide further information.
Direct Investments & New ISAs
Application Form Merchant Capital Income Plan: Phoenix
Please return this form and a cheque made payable to Pritchard Telephone (day):
stockbrokers Limited Client Account to Merchant Capital Limited,
7th Floor, Aldermary House, 10-15 Queen Street, London, EC4N 1TX by 5pm Telephone (evening):
on Monday 6 December 2010 in the pre-paid envelope enclosed.
For extra applications, simply photocopy this form. DIRECT INVESTMENT only on behalf of a child (under 18).
Please complete this form using BLOCK CAPITALS and black ink. ! Please complete the child’s name here:
Alternatively, if you would prefer to pay by bank transfer tick here Full Name:
Bank transfer details:
Account Name: Pritchard stockbrokers Limited Client Account Date of birth: — —
Bank: natwest Bank
Sort Code: 56-00-35
2. Investment
Account Number: 28320557 Direct Investment (minimum £5,000): £
Please quote your name in the reference. ISA investment 2010/11: £
(Minimum £5,000 / Maximum £10,200 for all investors)
1. Personal Details
Total: £
(ISA investments are only available for single applicants – each applicant must
complete a separate application). For extra applications simply photocopy this form Please make your cheques payable to Pritchard stockbrokers Limited. If you
are sending a building society cheque please ensure your building society include
Title (Mr, Mrs, Miss, Ms, Other): your name as the reference.
Surname: 3. Account details for income payments
Full first names: Please complete the details below carefully:
Bank/Building Society:
Permanent address: Address:
Postcode:
Postcode:
Date of birth: — —
Account name:
Nationality:
Account Number:
E-mail address:
Sort Code: — —
Telephone (day):
Building Society Reference or Roll Number:
Telephone (evening):
National Insurance (NI) number 4. Password
(required for all ISA investments):
For security purposes, please provide us with a password so we can give you
You should be able to find your NI number on a payslip, form P45 or
information over the phone or give you access to our web-based services:
P60, letter from HMRC or the DSS or pension order book.
Joint applications for DIRECT INVESTMENT only.
! Please fill in the details of the joint applicant:
5. Appropriateness
Title (Mr, Mrs, Miss, Ms, Other): Have you received financial advice
Yes No
relating to this investment:
Surname:
if you answered ‘Yes’ please proceed to section 6, data Protection,
otherwise please answer the following questions before proceeding to
Full first names:
section 6. If you do not answer these additional questions, we will not be able
to determine if this investment is appropriate for you.
The following questions are only to be answered if you have not received
Date of birth: — —
financial advice.
Nationality: 1. Have you previously invested through Merchant
Capital Limited or Arc Capital & Income plc or in a Yes No
E-mail address: plan managed by Keydata Investment Services Limited
Please turn over →
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
If yes please give plan number(s)/ You authorise the disclosure of your information concerning your investment to
client reference number an Independent Financial Adviser acting on your behalf.
in the case of Keydata:
You are entitled to request details of the information we hold upon payment of a
2. Please indicate below how often (if relevant) you have made the decision to fee and require us to correct any inaccuracies in that personal data.
invest in the following investments in the past 5 years
7. Declaration and authority
Stocks and Shares Unit Trusts/OEICs
number number ! i confirm that i am a UK resident for tax purposes:
An investment where the capital and returns are I declare that I am 18 years of age or over. I confirm adherence to the
variable and based upon the performance of underlying requirements contained in the Terms and Conditions.
securities. e.g. Equities, Indices, Corporate Bonds number
i declare that:
A similar structured product where you might
1. All subscriptions made belong to me;
get back less then you originally invested
number 2. If applying to subscribe to a Stocks and Shares ISA for 2010/2011 I have not
subscribed and will not subscribe to another ISA in the same year.
Other (please indicate)
3. I authorise Pritchard Stockbrokers Limited:
number
(a) to hold my cash subscription, investments, ISA investments, interest and
3. Please circle your purpose for investing in this product: other rights or proceeds in respect of those investments and any cash or
Tax status Saving for a specific purpose Supplement income other proceeds;
Investment for growth Investment for income (b) to make on my behalf any claims to relief from tax in respect of ISA investments
Other (please indicate) I have read and understood the relevant Plan brochure and Terms & Conditions
and accept the terms under which the investments will be managed. I declare
4. Please circle your annual income that this application form has been completed to the best of my knowledge and
(Combined Salary and/or Pension and/or Investments): belief. I understand that the producers of this brochure have not provided advice
on this investment and confirm that I either do not require such advice or have
Below £25K £26-50K £51-75K £76-100K £101-150K £151-200K Above £200K
received advice on this investment from an independent financial adviser.
5. Please circle your employment status and indicate your occupation:
Signed: Joint signature:
Employed Self-employed Retired Not working Other (for direct investments only)
Occupation
6. Do you understand that movements in the Indices
will influence the return you receive and that
Yes No Print name: Print name:
you will be putting your capital at risk, meaning
that you could get back less than you invested?
7. Please indicate the approximate percentage of your
investment portfolio that will be held in this product. Date: Date:
8. Please indicate the approximate percentage of your When you have completed and signed this form please return it with your
investment portfolio held in structured products. cheque made payable to Pritchard stockbrokers Limited Client Account to
your financial adviser or to: Merchant Capital Limited, 7th Floor, Aldermary
9. You have read and understood page 8 which House, 10-15 Queen Street, London, EC4N 1TX in the pre-paid envelope enclosed.
refers to Counterparty Risk and understand that
should the Issuer, Barclays Bank Plc, fail to meet
Yes No
its obligations to pay us the amount due from
the Securities, you may not receive back your For financial adviser’s use only
investment or be entitled to any compensation.
10. You have read and understood “Is this investment Financial adviser:
suitable for you?” on page 5 of the brochure Yes No
together with the Risk Factors on page 8.
if you have answered nO to any of the above questions, and still wish
to go ahead with this investment merchant Capital Limited strongly
recommends that you consult with a financial Adviser before proceeding. FSA number:
if you do not currently have access to a financial Adviser, merchant Capital
Limited have contacts with a number of independent financial advisers Name of adviser:
who will be happy to assist you. Please phone 020 7332 2205 for assistance.
Verification of Identity
6. Data Protection
I confirm that I have carried out the appropriate identity checks and
You authorise us to hold and process the information supplied on the attach the ‘Verification of Identity Certificate’. I have enclosed signed
application form as a data controller for the purposes of the Data Protection Act copies of the documentary evidence with this certificate. I have seen the
1998. We may hold and process information for the administration of this and original documents and any that need a signature were already signed.
any future application, for the operation of your investment and for marketing
goods and services from any member of the Merchant House Group and its Signed on behalf of the above:
contractors (“the Group”). You authorise the transfer of your information to any
member of the Group for these purposes.
If you do not want your information to be used by
other members of the Group, please tick this box:
Re-Investment Application Form Re-Investment
Merchant Capital Income Plan: Phoenix
Please return this form to Merchant Capital Limited, 7th Floor, Aldermary E-mail address:
House, 10-15 Queen Street, London, EC4N 1TX by 5pm on Monday 6 December
2010 in the prepaid envelope enclosed. Telephone (day):
For extra applications simply photocopy this form.
Please complete this form using BLOCK CAPITALS and black ink. Telephone (evening):
Date of birth: — —
1. Investment
Maturing Plan name:
3. Account details for income payments
Maturing Plan number: Please complete the details below carefully:
Bank/Building Society:
Maturing Plan value: £
Address:
Full re-investment:
Partial re-investment:
Postcode:
If partial re-investment please indicate the split below:
Amount to be reinvested: £ Account name:
Amount to be cashed in: Account Number:
£
If you would like to add to the amount to be invested please indicate below: Sort Code: — —
I would like to top up my investment with the Building Society Reference or Roll Number:
following amount: £
Total investment: £
If partial re-investment is taking place then please indicate your bank details below: 4. Appropriateness
Account Number: Have you received financial advice
Yes No
relating to this investment:
Sort Code: — —
if you answered ‘Yes’ please proceed to section 5, data protection,
otherwise please answer the following questions before proceeding to
Account name:
section 5. If you do not answer these additional questions, we will not be able to
determine if this investment is appropriate for you.
Bank name:
The following questions are only to be answered if you have not received
financial advice.
2. Contact Details The following questions are only to be answered if you have not received
financial advice.
This application form assumes that your contact details have not changed, if
they have, please fill in the appropriate sections below: 1. Please indicate below how often (if relevant) you have made the decision to
invest in the following investments in the past 5 years
Permanent address:
Stocks and Shares Unit Trusts/OEICs
number number
Postcode: An investment where the capital and returns are
variable and based upon the performance of underlying
E-mail address: securities. e.g. Equities, Indices, Corporate Bonds number
A similar structured product where you might
Telephone (day): get back less then you originally invested
number
Telephone (evening):
Other (please indicate)
Date of birth: — — number
2. Please circle your purpose for investing in this product:
Where the maturing plan is a joint investment, and your contact details have
changed, please fill in the appropriate sections below: Tax status Saving for a specific purpose Supplement income
Investment for growth Investment for income
Permanent address:
Other (please indicate)
Postcode: Please turn over →
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
3. Please circle your annual income I have read and understood the relevant Plan brochure and Terms & Conditions
(Combined Salary and/or Pension and/or Investments): and accept the terms under which the investments will be managed. I declare
that this application form has been completed to the best of my knowledge and
Below £25K £26-50K £51-75K £76-100K £101-150K £151-200K Above £200K belief. I understand that the producers of this brochure have not provided advice
on this investment and confirm that I either do not require such advice or have
4. Please circle your employment status and indicate your occupation: received advice on this investment from an independent financial adviser.
Employed Self-employed Retired Not working Other
Occupation Signed:
5. Do you understand that movements in the Indices
will influence the return you receive and that
Yes No
you will be putting your capital at risk, meaning
that you could get back less than you invested? Print name:
6. Please indicate the approximate percentage of your
investment portfolio that will be held in this product. Date: — —
7. Please indicate the approximate percentage of your
investment portfolio held in structured products.
8. You have read and understood page 8 which Joint signature: (for direct investments only)
refers to Counterparty Risk and understand that
should the Issuer, Barclays Bank Plc, fail to meet
Yes No
its obligations to pay us the amount due from
the Securities, you may not receive back your
investment or be entitled to any compensation.
Print name:
9. You have read and understood “Is this investment
suitable for you?” on page 5 of the brochure Yes No Date: — —
together with the Risk Factors on page 8.
if you have answered nO to any of the above questions, and still wish to go When you have completed and signed this form please return it to your
ahead with this investment merchant Capital Limited strongly recommends financial adviser or to: Merchant Capital Limited, 7th Floor, Aldermary House,
that you consult with a financial Adviser before proceeding. if you do not 10-15 Queen Street, London, EC4N 1TX in the pre-paid envelope enclosed.
currently have access to a financial Adviser, merchant Capital Limited have
contacts with a number of independent financial advisers who will be happy
to assist you. Please phone 020 7332 2205 for assistance.
For financial adviser’s use only
5. Data Protection Financial adviser:
You authorise us to hold and process the information supplied on the
application form as a data controller for the purposes of the Data Protection Act
1998. We may hold and process information for the administration of this and FSA number:
any future application, for the operation of your investment and for marketing
goods and services from any member of the Merchant House Group or its Name of adviser:
contractors (“the Group”). You authorise the transfer of your information to any
member of the Group for these purposes.
Verification of Identity
If you do not want your information to be used by other
members of the Group, please tick this box: I confirm that I have carried out the appropriate identity checks and
attach the ‘Verification of Identity Certificate’. I have enclosed signed
You authorise the disclosure of your information concerning your investment to
copies of the documentary evidence with this certificate. I have seen the
an Independent Financial Adviser acting on your behalf.
original documents and any that need a signature were already signed.
You are entitled to request details of the information we hold upon payment of a
fee and require us to correct any inaccuracies in that personal data. Signed on behalf of the above:
6. Declaration and authority
! i confirm that i am a UK resident for tax purposes:
I declare that I am 18 years of age or over. I confirm adherence to the
For Merchant Capital Limited use only
requirements contained in the Terms and Conditions.
Receipt Date:
i declare that:
1. All subscriptions made belong to me; Plan Number:
2. I authorise Pritchard Stockbrokers Limited:
Broker Number:
(a) to hold my cash subscription, investments, ISA investments, interest and
other rights or proceeds in respect of those investments and any cash or
other proceeds;
(b) to make on my behalf any claims to relief from tax in respect of ISA
investments
Existing ISAs
ISA Transfer Application Form Merchant Capital Income Plan: Phoenix
Please return this form to Merchant Capital Limited, 7th Floor, Aldermary 4. Password
House, 10-15 Queen Street, London, EC4N 1TX by 5pm on Monday 6 December For security purposes, please provide us with a password so we can give you
2010 in the prepaid envelope enclosed. information over the phone or give you access to our web-based services:
For extra applications simply photocopy this form.
Please complete this form using BLOCK CAPITALS and black ink.
1. Personal Details 5. Appropriateness
(ISA investments are only available for single applicants – each applicant must Have you received financial advice
Yes No
complete a separate application). For extra applications simply photocopy this form relating to this investment:
Title (Mr, Mrs, Miss, Ms, Other): if you answered ‘Yes’ please proceed to section 6, data Protection,
otherwise please answer the following questions before proceeding to
section 6. If you do not answer these additional questions, we will not be able to
Surname: determine if this investment is appropriate for you.
Full first names: The following questions are only to be answered if you have not received
financial advice.
1. Have you previously invested
Permanent address: through Merchant Capital Limited
or Arc Capital & Income plc or in a Yes No
plan managed by Keydata Investment
Services Limited
Postcode:
If yes please give plan number(s)/
Date of birth: — — client reference number
in the case of Keydata:
Nationality: 2. Please indicate below how often (if relevant) you have made the decision to
invest in the following investments in the past 5 years
E-mail address:
Stocks and Shares Unit Trusts/OEICs
Telephone (day): number number
An investment where the capital and returns are
Telephone (evening):
variable and based upon the performance of underlying
securities. e.g. Equities, Indices, Corporate Bonds number
National Insurance (NI) number
(required for all ISA investments): A similar structured product where you might
get back less then you originally invested
You should be able to find your NI number on a payslip, form P45 or number
P60, letter from HMRC or the DSS or pension order book.
Other (please indicate)
number
2. Investment
3. Please circle your purpose for investing in this product:
I wish to apply to subscribe the following
amount as an ISA investment by way of a £ Tax status Saving for a specific purpose Supplement income
transfer from my existing ISA detailed below: Investment for growth Investment for income
Other (please indicate)
3. Account details for income payments 4. Please circle your annual income
Please complete the details below carefully: (Combined Salary and/or Pension and/or Investments):
Below £25K £26-50K £51-75K £76-100K £101-150K £151-200K Above £200K
Bank/Building Society:
5. Please circle your employment status and indicate your occupation:
Address:
Employed Self-employed Retired Not working Other
Occupation
Postcode: 6. Do you understand that movements in the Indices
will influence the return you receive and that
Yes No
Account name: you will be putting your capital at risk, meaning
that you could get back less than you invested?
Account Number: 7. Please indicate the approximate percentage of your
investment portfolio that will be held in this product.
Sort Code: — — 8. Please indicate the approximate percentage of your
investment portfolio held in structured products.
Building Society Reference or Roll Number:
Please turn over →
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
When you have completed and signed this form please return it to your
9. You have read and understood page 8 which
financial adviser or to: Merchant Capital Limited, 7th Floor, Aldermary House,
refers to Counterparty Risk and understand that
10-15 Queen Street, London, EC4N 1TX in the pre-paid envelope enclosed.
should the Issuer, Barclays Bank Plc, fail to meet
Yes No
its obligations to pay us the amount due from
the Securities, you may not receive back your For financial adviser’s use only
investment or be entitled to any compensation.
10. You have read and understood “Is this investment Financial adviser:
suitable for you?” on page 5 of the brochure Yes No
together with the Risk Factors on page 8.
if you have answered nO to any of the above questions, and still wish to go FSA number:
ahead with this investment merchant Capital Limited strongly recommends
that you consult with a financial Adviser before proceeding. if you do not Name of adviser:
currently have access to a financial Adviser, merchant Capital Limited have
contacts with a number of independent financial advisers who will be happy
Verification of Identity
to assist you. Please phone 020 7332 2205 for assistance.
I confirm that I have carried out the appropriate identity checks and
attach the ‘Verification of Identity Certificate’. I have enclosed signed
copies of the documentary evidence with this certificate. I have seen the
6. Data Protection original documents and any that need a signature were already signed.
You authorise us to hold and process the information supplied on the
application form as a data controller for the purposes of the Data Protection Act Signed on behalf of the above:
1998. We may hold and process information for the administration of this and
any future application, for the operation of your investment and for marketing
goods and services from any member of the Merchant House Group or its
contractors (“the Group”). You authorise the transfer of your information to any
member of the Group for these purposes.
If you do not want your information to be used by other For Merchant Capital Limited use only
members of the Group, please tick this box:
You authorise the disclosure of your information concerning your investment to Receipt Date:
an Independent Financial Adviser acting on your behalf.
You are entitled to request details of the information we hold upon payment of a Plan Number:
fee and require us to correct any inaccuracies in that personal data.
Broker Number:
7. Declaration and authority
! i confirm that i am a UK resident for tax purposes:
I declare that I am 18 years of age or over. I confirm adherence to the
requirements contained in the Terms and Conditions.
i declare that:
1. All subscriptions made belong to me;
2. I authorise Pritchard Stockbrokers Limited:
(a) to hold my direct investments, ISA investments, interest and other rights
or proceeds in respect of those investments and any cash or other proceeds;
(b) to make on my behalf any claims to relief from tax in respect of ISA investments
I have read and understood the relevant Plan brochure and Terms & Conditions
and accept the terms under which the investments will be managed. I declare
that this application form has been completed to the best of my knowledge and
belief. I understand that the producers of this brochure have not provided advice
on this investment and confirm that I either do not require such advice or have
received advice on this investment from an independent financial adviser.
Signed:
Print name:
Date: — —
Existing ISAs
ISA Transfer Application Form Merchant Capital Income Plan: Phoenix
Existing ISA transfer request Plan manager’s phone number:
I confirm that I wish to transfer my existing ISA
Account number of the ISA:
Title (Mr,Mrs, Miss, Ms, Other):
Approximate value:
Surname:
existing isA plan manager instructions:
Full first names:
1. I instruct the manager of the ISA shown above to give you and Pritchard
Permanent address: Stockbrokers Limited any information they may need for the plan, sell any
ISA assets and send either a BACS payment directly to the client account
of Pritchard Stockbrokers Limited, being Natwest Bank (Sort Code 56-00-35
Account Number 28320557) or a cheque made payable to Pritchard stockbrokers
Limited Client Account for the proceeds to Merchant Capital Limited, 7th Floor,
Aldermary House, 10-15 Queen Street, London, EC4N 1TX in the pre-paid envelope
Postcode:
enclosed. If there is a problem, please contact us on 020 7332 2218.
Name of existing ISA and address of the plan manager: 2. All dividends, interest and tax credits arising after the transfer should be
made payable to me.
Signature:
Date: — —
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
Pension Application Form Trustee Application Form for Pension Schemes
Merchant Capital Income Plan: Phoenix
Please return this form and a cheque made payable to Pritchard 2. Account details for income payments
stockbrokers Limited Client Account to Merchant Capital Limited, Please complete the details below carefully:
7th Floor, Aldermary House, 10-15 Queen Street, London, EC4N 1TX by 5pm
on Monday 6 December 2010 in the pre-paid envelope enclosed. Bank/Building Society:
For extra applications, simply photocopy this form.
Please complete this form using BLOCK CAPITALS and black ink. Address:
Alternatively, if you would prefer to pay by bank transfer tick here
Postcode:
Bank transfer details:
Account name:
Account Name: Pritchard Stockbrokers Limited Client Account
Account Number:
Bank: Natwest Bank
Sort Code: — —
Sort Code: 56-00-35
Building Society Reference or Roll Number:
Account Number: 28320557
Please quote your name in the reference.
3. Investment
1. Personal Details I wish to apply to subscribe the
following amount: £
Name of Scheme:
Please make your cheques payable to Pritchard stockbrokers Limited
Client Account. If you are sending a building society cheque please ensure your
building society include your name as the reference.
Name of Trustees/Administrators:
4. Password
For security purposes, please provide us with a password so we can give you
information over the phone or give you access to our web-based services:
Address:
5. Appropriateness
Have you received financial advice
Postcode: Yes No
relating to this investment:
Contact name: if you answered ‘Yes’ please proceed to section 6, Authorised signatories,
otherwise please answer the following questions before proceeding to
section 6. If you do not answer these additional questions, we will not be able
Contact telephone number:
to determine if this investment is appropriate for you.
Contact email: The following questions are only to be answered if you have not received
financial advice.
1. Have you previously invested
type of pension: through Merchant Capital Limited
or Arc Capital & Income plc or in a Yes No
An occupational scheme which is not a small self-administered scheme
plan managed by Keydata Investment
Services Limited
A small self administered scheme (SSAS)
If yes please give plan number(s)/
A personal pension scheme client reference number
in the case of Keydata:
A self-invested personal pension scheme (SIPP)
2. Please indicate below how often (if relevant) you have made the decision to
Inland Revenue scheme reference number: invest in the following investments in the past 5 years
Any other relevant information: Stocks and Shares Unit Trusts/OEICs
number number
An investment where the capital and returns are
variable and based upon the performance of underlying
securities. e.g. Equities, Indices, Corporate Bonds number
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
A similar structured product where you might Name:
get back less then you originally invested
number
Other (please indicate) Capacity:
number
3. Please circle your purpose for investing in this product: Signed:
Tax status Saving for a specific purpose Supplement income
Investment for growth Investment for income
Date: — —
Other (please indicate)
4. Please circle your annual income Name:
(Combined Salary and/or Pension and/or Investments):
Below £25K £26-50K £51-75K £76-100K £101-150K £151-200K Above £200K
Capacity:
5. Please circle your employment status and indicate your occupation:
Employed Self-employed Retired Not working Other
Signed:
Occupation
6. Do you understand that the price movements of the
Indices will influence the return you receive and
Yes No Date: — —
that you will be putting your capital at risk, meaning
that you could get back less than you invested?
Name:
7. Please indicate the approximate percentage of your
investment portfolio that will be held in this product.
8. Please indicate the approximate percentage of your Capacity:
investment portfolio held in structured products.
9. You have read and understood page 8 which
refers to Counterparty Risk and understand that Signed:
should the Issuer, Barclays Bank Plc, fail to meet
Yes No
its obligations to pay us the amount due from
the Securities, you may not receive back your
investment or be entitled to any compensation. Date: — —
10. You have read and understood “Is this investment
suitable for you?” on page 5 of the brochure Yes No Name:
together with the Risk Factors on page 8.
Capacity:
if you have answered nO to any of the above questions and still wish to
go ahead with this investment you are recommended to consult with a
financial Adviser before proceeding. if you do not currently have access to Signing authority: Any one: Any two: Other: (please specify)
a financial Adviser, merchant Capital Limited have contacts with a number
of independent financial advisers who will be happy to assist you. Please
phone 020 7332 2205 for assistance.
6. Authorised Signatories 7. Data Protection
The exercise of any options under the Terms and Conditions of the Plan or You authorise us to hold and process the information supplied on the application
Deposit must be authorised by the requisite number of authorised signatories set form as a data controller for the purposes of the Data Protection Act 1998. We
out in the Scheme or, where a number is not stipulated, by at least one authorised may hold and process information for the administration of this and any future
signature. Please provide the names and sample signatures of all those who will application, for the operation of your investment and for marketing goods and
be Authorised Signatories. If you require more than four, please continue on a services from any member of the Merchant House Group and its contractors (“the
separate sheet of paper. Where there is a change to the Authorised Signatories, Group”). You authorise the transfer of your information to any member of the
please notify Pritchard Stockbrokers Limited, in writing giving the date of Group for these purposes.
the change at Roddis House, Old Christchurch Road, Bournemouth, BH1 1LG.
Merchant Capital Limited, and Pritchard Stockbrokers Limited, will be entitled to If you do not want your information to be used by
rely on any previous list until receipt of a replacement list. other members of the Group, please tick this box:
You authorise the disclosure of your information concerning your investment to an
Independent Financial Adviser acting on your behalf.
Signed:
You are entitled to request details of the information we hold upon payment of a fee
and require us to correct any inaccuracies in that personal data.
Date: — —
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
8. Declaration and authority
I/We, the Trustees/Authorised Parties of this Trust/Scheme, have read and accept
For financial adviser’s use only
the Terms and Conditions under which the investment will be managed, and
request Merchant Capital Limited, to arrange for the purchase of the Plan(s) on Financial adviser:
our behalf, in accordance with the Plan brochure.
i/We declare that:
FSA number:
1. I/We have full power to invest in the Plan and have taken all necessary
action to authorise the making of this application. The person(s) signing Name of adviser:
this application is authorised to do so on our behalf.
2. The Trust/Scheme is a registered pension scheme under Part 4 of the
Finance Act 2004 (or an application has been made) and we undertake to
Verification of Identity
advise Merchant Capital Limited immediately if it ceases to be a registered I confirm that I have carried out the appropriate identity checks and
pension scheme or if its application for registration is withdrawn or refused. attach the ‘Verification of Identity Certificate’. I have enclosed signed
copies of the documentary evidence with this certificate. I have seen the
3. I/We authorise the Board of the HMRC to tell Merchant Capital Limited if
original documents and any that need a signature were already signed.
the Scheme is not granted exempt approval or if that approval is withdrawn.
4. I/We authorise Pritchard Stockbrokers: to hold my cash subscription, Signed on behalf of the above:
investments, interest, dividends and other rights or proceeds in respect of
those investments and any cash or other proceeds;
i/We have read and understood the relevant Plan brochure and terms &
Conditions and accept the terms under which the investments will be
managed and i/We are not prohibited under the provisions or the terms
of the trust/scheme from investing in this Plan . i/We declare that this
application form has been completed to the best of my/our knowledge
For Merchant Capital Limited use only
and belief. i/We understand that the producers of this brochure have not
provided advice on this investment and confirm that i/We either do not Receipt Date:
require such advice or have received advice on this investment from an
independent financial Adviser. Plan Number:
Broker Number:
Signed for and on behalf of the Trustees of the Scheme:
Signed:
Print name:
Date: — —
Joint signature:
Print name:
Date: — —
When you have completed and signed this form please return it, together
with your cheque made payable to Pritchard stockbrokers Limited Client
Account, to your financial adviser or to: Merchant Capital Limited, 7th Floor,
Aldermary House, 10-15 Queen Street, London, EC4N 1TX.
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
Application Form for Trusts,
Companies Application Form Companies & Partnerships
Please return this form and a cheque made payable to Pritchard 2. Account details for income payments
stockbrokers Limited Client Account to Merchant Capital Limited, Please complete the details below carefully:
7th Floor, Aldermary House, 10-15 Queen Street, London, EC4N 1TX by 5pm
on Monday 6 December 2010 in the pre-paid envelope enclosed. Bank/Building Society:
For extra applications, simply photocopy this form.
Please complete this form using BLOCK CAPITALS and black ink. Address:
Alternatively, if you would prefer to pay by bank transfer tick here
Postcode:
Bank transfer details:
Account name:
Account Name: Pritchard Stockbrokers Limited Client Account
Account Number:
Bank: Natwest Bank
Sort Code: — —
Sort Code: 56-00-35
Building Society Reference or Roll Number:
Account Number: 28320557
Please quote your name in the reference.
1. Details 3. Contact Details (Merchant Capital Income Plan: Phoenix)
Trust, Company Partnership, Account Name:
Primary Contact / Trustee One
Name:
Address:
Correspondence address:
Postcode:
Title:
Postcode:
Telephone:
Registered address (if different from above):
Email:
Postcode:
Contact / Trustee Two
Name:
Type of Trust (if applicable) and name of Administrators:
Address:
Postcode:
Title:
Telephone:
Names of Beneficiaries:
Email:
Contact / Trustee Three
Name:
Address:
Company’s Registered Number:
Postcode:
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
Title: A similar structured product where you might
get back less then you originally invested
number
Telephone:
Other (please indicate)
Email:
number
Contact / Trustee Four 3. Please circle your purpose for investing in this product:
Tax status Saving for a specific purpose Supplement income
Name:
Investment for growth Investment for income
Address:
Other (please indicate)
4. Please circle your annual income
(Combined Salary and/or Pension and/or Investments):
Postcode:
Below £25K £26-50K £51-75K £76-100K £101-150K £151-200K Above £200K
Title:
5. Please circle your employment status and indicate your occupation:
Telephone: Employed Self-employed Retired Not working Other
Email: Occupation
6. Do you understand that the price movements of the
Indices will influence the return you receive and
Yes No
4. Investment that you will be putting your capital at risk, meaning
that you could get back less than you invested?
I wish to apply to subscribe the
following amount: £ 7. Please indicate the approximate percentage of your
investment portfolio that will be held in this product.
Please make your cheques payable to Pritchard stockbrokers Limited
Client Account. If you are sending a building society cheque please ensure your 8. Please indicate the approximate percentage of your
building society include your name as the reference. investment portfolio held in structured products.
9. You have read and understood page 8 which
refers to Counterparty Risk and understand that
5. Password should the Issuer, Barclays Bank Plc, fail to meet
Yes No
its obligations to pay us the amount due from
For security purposes, please provide us with a password so we can give you
the Securities, you may not receive back your
information over the phone or give you access to our web-based services:
investment or be entitled to any compensation.
10. You have read and understood “Is this investment
suitable for you?” on page 5 of the brochure Yes No
together with the Risk Factors on page 8.
6. Appropriateness
Have you received financial advice if you have answered nO to any of the above questions and still wish to
Yes No go ahead with this investment you are recommended to consult with a
relating to this investment:
financial Adviser before proceeding. if you do not currently have access to
if you answered ‘Yes’ please proceed to section 7, data Protection, a financial Adviser, merchant Capital Limited have contacts with a number
otherwise please answer the following questions before proceeding to of independent financial advisers who will be happy to assist you. Please
section 7. If you do not answer these additional questions, we will not be able to phone 020 7332 2205 for assistance.
determine if this investment is appropriate for you.
The following questions are only to be answered if you have not received
financial advice. 7. Data Protection
1. Have you previously invested You authorise us to hold and process the information supplied on the application
through Merchant Capital Limited form as a data controller for the purposes of the Data Protection Act 1998. We
or Arc Capital & Income plc or in a Yes No may hold and process information for the administration of this and any future
plan managed by Keydata Investment application, for the operation of your investment and for marketing goods and
Services Limited services from any member of the Merchant House Group and its contractors (“the
Group”). You authorise the transfer of your information to any member of the
If yes please give plan number(s)/ Group for these purposes.
client reference number
in the case of Keydata: If you do not want your information to be used by
other members of the Group, please tick this box:
2. Please indicate below how often (if relevant) you have made the decision to
invest in the following investments in the past 5 years You authorise the disclosure of your information concerning your investment to an
Independent Financial Adviser acting on your behalf.
Stocks and Shares Unit Trusts/OEICs
You are entitled to request details of the information we hold upon payment of a fee
number number and require us to correct any inaccuracies in that personal data.
An investment where the capital and returns are
variable and based upon the performance of underlying
securities. e.g. Equities, Indices, Corporate Bonds number
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
8. Declaration and authority Signed Authorised Signatory:
I/We, the Trustees/Authorised Signatories of this Trust/Company/Partnership,
have read and accept the Terms and Conditions under which the investment
will be managed, and request Merchant Capital Limited to arrange for the
purchase of the Plan(s) on our behalf, in accordance with the Plan brochure.
Print name:
i/We declare that:
1. I/We have full power to invest in the Plan and have taken all necessary Date: — —
action to authorise the making of this application. The person(s) signing
this application is authorised to do so on our behalf.
2. I/We authorise the Board of the HMRC to tell Merchant Capital Limited if When you have completed and signed this form please return it, together
the Scheme is not granted exempt approval or if that approval is withdrawn. with your cheque made payable to Pritchard stockbrokers Limited Client
Account, to your financial adviser or to: Merchant Capital Limited, 7th Floor,
3. I/We authorise Pritchard Stockbrokers: to hold the cash subscription, Aldermary House, 10-15 Queen Street, London EC4N 1TX.
investments, interest, dividends and other rights or proceeds in respect of
those investments and any cash or other proceeds;
I/We declare that we are not prohibited under the terms of the Trust/Company/
Partnership from investing in this Plan and we are not, and are not acting on
the behalf of a resident of the United States; and that we will not assist any For financial adviser’s use only
person who is so resident to acquire securities in the Plan. Further we agree
to inform you immediately should we become resident of the United States. I Financial adviser:
confirm adherence to the requirements contained in the Terms and Conditions.
i/We have read and understood the relevant Plan brochure and terms & FSA number:
Conditions and accept the terms under which the investments will be
managed. i /We declare that this application form has been completed to the Name of adviser:
best of my/our knowledge and belief. i/We understand that the producers
of this brochure have not provided advice on this investment and confirm
that i/We either do not require such advice or have received advice on this Verification of Identity
investment from an independent financial Adviser. I confirm that I have carried out the appropriate identity checks and
attach the ‘Verification of Identity Certificate’. I have enclosed signed
copies of the documentary evidence with this certificate. I have seen the
Signed Authorised Signatory: original documents and any that need a signature were already signed.
Signed on behalf of the above:
Print name:
Date: — —
For Merchant Capital Limited use only
Signed Authorised Signatory: Receipt Date:
Plan Number:
Broker Number:
Print name:
Date: — —
Signed Authorised Signatory:
Print name:
Date: — —
merchant Capital Limited, 7th Floor, Aldermary House Authorised & Regulated by the
10-15 Queen Street, London EC4N 1TX Tel: 020 7332 2218 Fax: 020 7332 2201 Financial Services Authority (Firm no. 220131)
October 2010
Merchant Capital Limited
7th Floor
Aldermary House
10-15 Queen Street
London EC4N 1TX
Tel: 020 7332 2205 IFA enquiries
020 7332 2218 General enquiries
Fax: 020 7332 2201
E-mail: info@merchant-capital.com
Web: www.merchant-capital.com
Merchant Capital Limted is authorised & regulated by
the Financial Services Authority (Firm no. 220131).
Registered in England & Wales No. 4487961.
Registered office: 7th Floor, Aldermary House,
10-15 Queen Street, London EC4N 1TX
Merchant Capital Limited is a member of the
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