Mercury Wealth: secure world growth bond II

I received their brochure (its not on their website for some reason) and it appears to be a good product;
-100% captial security (by KBC Bank)
-invested in indices of 5 markets; S&P500, Euro Stoxx50, FTSE100 and Nikkei225
-5year term, min investment €10k.

Here's the bite; investors receive 100% of any growth over 5yr period subject to max gross return of 55% (CAR 9.1%) or an after tax return of 39.6% (CAR 6.9%).
No dividends or currency risk (denominated in euro)
No ongoing fee's or costs

I've read the document and can't see any other catches but has anyone any advice on this product or experience of Mercury Wealth?

No idea on this product, but, the Best Buys thread says that you can get 4.7% for a fixed term of 5.5 years with An Post. http://www.askaboutmoney.com/showthread.php?t=101813
So why not put about 80% of your dosh with An Post at 4.7%, which will give you back 100% in about 5 years, i.e. that’s your capital guarantee. Then invest the remainder with QL splitting your investment equally between those indices. That way you get your capital guarantee and 100% of the increase in the value of the indices. Also, if you think the indices will crash as the end of your 5 year term nears you can get out early and take your gains to date, or stay invested if you are happy with the return on your investment.