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Arcus 7Y UK & Europe Quarterly Conditional Income Kickout Plan (MS65)

Type of product Income
Type of return Investment
Investment term 7 years
Underlying FTSE 100 Index and EURO STOXX 50 Index
Counterparty   Morgan Stanley
Promoter Dura Capital
UKSPA product code   1290 - Conditional Income
Summary Risk Indicator   4
Income   8.64% fixed
Income Barrier   85% of Start Level
Kick Out Barrier   100% of Start Level
Capital at Risk Barrier   65% European
S&P Rating A+ (Stable outlook)
Fitch Rating A+ (Stable outlook)
Moody's Rating Aa3 (Stable outlook)
Important Dates  
Closing Date ISA Transfer Date Strike Date Maturity Date
24/03/2026 17/03/2026 31/03/2026 31/03/2033
Possible Early Maturity Dates   Annually, from year two onwards
Description On quarterly dates during the term (the 'Income Dates'), investors will receive income of 2.16% if both the FTSE 100 and EURO STOXX 50 close at or above 85% of their Start Levels. 

This plan also offers the chance to mature early (kick out) on any Income Date from the second year onwards. On these dates, provided that the FTSE 100 and EURO STOXX 50 close at or above 100% of their Start Levels, the plan will pay income for that year. The initial capital will be repaid at this point and the plan will mature early.

If the Plan matures early, capital is repaid in full. However if the Plan continues for the full term, capital is at risk:
  • If both indexes close at or above 85% of their Start Levels at maturity, investors receive the final income payment and capital is repaid in full
  • If both indexes close at or above 65% of their Start Levels at maturity, capital is repaid in full
  • If at least one index closes below 65% of its Start Level at maturity, investors will make a loss. They will lose 1% for every 1% fall in the worst performing index from its Start Level.

Contract Details

  Cash ISA Equity ISA Direct ISA Transfer SIPP
Availability
Minimum contribution n/a £3,000 £3,000 £3,000 £3,000
* Credit ratings are correct as of 11 February 2026. ** Minimum contributions do not include any applicable adviser charges. † This plan is available for investment through third party SIPP Providers. 

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