Flexible Guarantee Bond unit prices

While the value of a bond is determined by the number of units and the current unit price, you should be aware that the actual value can be affected by some, or all, of the following:-

• Changing number of units (through monthly policy charges, withdrawals and / or switches).
• Early encashment charges which would reduce the value.
• The Flexible Guarantee Bond uses two unit prices which we call the Underlying Price and the Averaged Price. The Underlying Price is used for the first 26 weeks following the start date of your bond (or from a switch). After this date, the Averaged Price is normally used.

See your Key Features / Bond Conditions for a full explanation.