Dolmen Stockbrokers has launched a new bond that provides attractive potential coupon payments, provided that the Gold price remains within set price ranges each year.  When coupons are earned, they are “Locked In” and paid out to investors. Coupons can be paid out each year, whether the Gold price rises, falls or stays the same, just as long as it remains within the target price range.

The bond term is four years with capital security versions of 100% or 90%.

The 100% capital secure version pays an annual coupon of 12% while the 90% capital secure pays 23%.

The capital protection is provided by KBC Bank Ireland plc and is structured as a bank deposit. The capital sum is covered by the Deposit Guarantee Scheme and growth is liable to DIRT at 30%.

In order to earn your coupon each year, gold must trade between the specified ranges below:

Trading range Gold Price (US$ per ounce)

  • Year 1 -15% to +35% – a total range of 50% $1,99.95 to $2,223.45
  • Year 2 -10% to + 50% – a total range of 60% $1,482.30 to $2,470.50
  • Year 3 – 5% to +70% – a total range of 75% $1,564.65 to $2,799.90
  • Year 4 0% to + 90% – a total range of 90% $1,647.00 to $3,139.30


When earned the coupons are paid out to investors at the end of each year. Access to capital during the year term is not allowed.

If gold breaks the range during any year there is no coupon payment in that particular year.

If gold trades outside the range in any year, investors can still receive coupons in the subsequent years that gold trades within the relevant price ranges.

The minimum investment is €10,000 and while the returns are linked to gold, this is not a direct investment in gold as the coupon levels are fixed and your capital is secure at maturity.

Not all investment options are suitable for all investors, so it is important to take professional advice before investing.