It seems that little is ever new in the design and marketing of risky financial products. The gullibility of customers and so-called asymmetry of information (where sellers know much more about the products than customers) will always be exploited in order to create profit opportunities. And so it was with structured financial products.
From 2000 onwards, Lloyds TSB Bank (which became Lloyds Banking Group following the HBOS merger) started selling structured financial products to customers. These were known to customers as:
Market Linked Deposit (MLD)
Offshore Limited Deposit (OLED)
Inflation Rate Bond (IRB)
Capital Protected Fund (CPF)
Protected Capital Solutions Fund (PCSF)
Guaranteed Investment Bond (GIB)