Nationwide launches bond

Nationwide Building Society launched a new Guaranteed Investment Bond, linked to the FTSE 100 index. Between now and the end of March customers can invest between £1,000 and £1m for five years.

They are guaranteed gross interest equal to the rise in the FTSE 100 index starting on 13 April, with a guaranteed growth of 25 per cent gross over the five years if the index fails to increase by more than that.