Your Protected Equity Bond (also called a Legal & General Capital Guaranteed Multi-Index Equity Bond) was designed to return your original capital at the end of a 6-year term, along with a return linked to the performance of the stock market. Each Protected Equity Bond has defined application periods, a set maturity date and its own Terms and Conditions.
You can find your Bond's details in the documents you received when you bought your Bond. If your Bond is reaching maturity, you can expect to receive a maturity pack from Legal & General containing information on how to withdraw or transfer your funds. Find out more about Bond maturity.
Although your Bond is a Legal & General product, during the fixed term your funds are held by Nationwide as the deposit taker. This means that from the product start date through to maturity we look after your money for Legal & General. Here are the full details of where your money is held before and after the 6-year fixed term:
||Before the start date and after the fixed term
||During the fixed term
|Where is my money held?
||Legal & General place your money in a client account with a bank or building society. This is currently The Royal Bank of Scotland PLC.
||Your money is held by Nationwide Building Society, acting as deposit taker.
|Is my money secure in the event that the bank/building society holding my money becomes insolvent?
|Does my money have the same security as a traditional savings account?
||Yes - subject to the £85,000 FSCS1 limit per provider. Any investment will contribute towards your total deposit holding with The Royal Bank of Scotland PLC and any subsidiaries that currently trade within the group.
||Yes - subject to the £85,000 FSCS1 limit per provider. Any investment will contribute towards your total deposit holding with Nationwide Building Society Group, which includes any amounts held with Nationwide (UK) Ireland.
1 The Financial Services Compensation Scheme (FSCS) is designed to help provide compensation in the event of a financial institute failing. The FSCS covers deposit accounts for 100% of the first £85,000 of each customer's eligible claim per firm. Further details on compensation arrangements are available from the FSCS. From Friday 1 January 2016, the level of FSCS protection for retail depositors will be reduced from £85,000 to £75,000.
Legal & General are your Deposit Bond or ISA manager and point of contact should you have any questions about your Bond.
You can call their UK-based team on 0370 050 33 50. Lines are open Monday to Friday 9am to 6pm. (Calls may be recorded. Call charges may vary. This number may not be available from outside the UK.)
You can write to Legal & General at:
Legal & General Investments
PO Box 6080