ISIN – GB00BQJV5R79
These types of structured products are always difficult to analyse for ISA purposes.
The first key criteria is that the product is some kind of security. In this case, the product is described as Senior, Unsecured, Uncertificated Registered, Medium Term Notes so we are happy that they are a type of security for ISA purposes.
In most cases, the ISA qualifying securities rules mean that either the security itself or the shares in the issuing company need to meet the ISA listing rules but there is a third possibility where a security is issued by a company which is a subsidiary (at least 75%) of a parent company and the shares in the parent company are ISA qualifying – see ISA guidance below.
The difficulty here is establishing who the issuing company is.
My interpretation, based on the documentation provided, is that the product is being offered (ie. issued) by Walker Crips Structured Investments which appears to be a wholly owned subsidiary (ie. at least a 75% subsidiary) of Walker Crips Group Plc whose shares are listed on the London Stock Exchange and are therefore ISA qualifying. On that basis, the product will meet the necessary ISA listing test.