Ulster Bank has launched a second issue of its Nasdaq bond, which is composed primarily of technology stocks. The bond is a three-year investment linked to the quarterly returns of the Nasdaq 100 index and carries a guarantee on the initial investment.

The overall return is based on the sum of the quarterly returns of the Nasdaq index over the three-year term, up to a maximum return of 8 per cent gross each quarter. Any quarterly losses will be included in this calculation and if, at the end of the three-year term, the sum of the quarterly returns is negative, an investor would be repaid the full initial investment, according to the bank.

The minimum investment is £5,000 (€6,350). Tax on investment gains of 22 per cent is deducted by the bank fully discharging any personal liability.

Investors interested in subscribing should do so before July 14th.