ADIB launches second tranche of equity investment note

Abu Dhabi Islamic Bank (ADIB) has launched the second tranche of Equity Basket Note 3, the bank said in a statement on Tuesday.

The note is open for subscription until April 23, with a minimum investment of $30,000. The maturity date is April 4, 2018.

The shariah-compliant note, which is linked to a basket of global blue-chip stocks, provides 100 percent protection at maturity to minimize investment risk, the bank said.

It provides investors with the opportunity to invest in a basket of international companies, including Allergan, Cerner, KDDI, Merck & Co, and Koninklijke Philips.

“The second tranche of the Equity Basket Note 3 provides customers with another chance to access a diverse range of leading international companies with strong upside potential over the medium term at minimal risk,” Daffer Luqman, global head of liabilities and wealth management at ADIB, said in the statement.

The first tranche of Equity Basket Note 3 was issued in January 2017. ADIB’s last three matured equity investment notes have yielded returns of 4.2 percent, 4.7 percent and 6.1 percent, respectively, the bank said.