The discounted Option Price is:
£1.98
Your savings are taken from your pay after tax, every four weeks and put into an SAYE account (held by Lloyds Bank plc) in your name. Your savings will start being taken from your pay in February 2021.
You can save between £5 and £500, every four weeks, for a three or five year savings period.
* If you already participate in SAYE and want help to decide how much you can afford to contribute, details of your current SAYE schemes are available online through the ESP Portal - shareview.co.uk/tesco. Although the maximum amount that can be saved every four weeks across all schemes is £500, if you’re saving into the 2017 three year scheme and haven’t missed any payments, the amounts you’re saving into these schemes won’t count towards the £500 limit.
At the end of your saving period, you’ll have the opportunity to buy shares at discounted Option Price. This is set on the invitation date.
Your money is safe and if your circumstances change at any point during the three or five year savings period, you can get all your money back.
If you leave Booker at any time during your saving period because you’re made redundant, or retire, you may be able to buy a reduced number of Tesco shares within six months of leaving. If you leave Tesco for any other reason before the end of your saving period then you’ll get all your money back, or you can choose to carry on saving privately into your Save As You Earn account. However you won’t be able to buy shares at the discounted Option Price if you leave within three years of the option grant date.
You can miss up to 12 payments, but each one missed will mean your savings period is extended by a month, so your scheme will mature later. If you go on maternity, adoption or additional paternity leave you can make arrangements to continue contributing by calling the Tesco Shares Helpline on 0371 384 2487.
You can choose to save between £5 and £500 every four weeks. The amount you choose will be taken directly from your pay.
You can choose to save for a three or five year saving period. When you’ve chosen how much you’re going to save and how long for, you can use the calculator to see what you will have at the end!
Are there any risks?
Shares can go down in value as well as up, but in Save As You Earn your savings are protected. You’ll always get back what you’ve put in if you choose not to buy shares. There’s no charge to have your savings refunded in full.
Are my savings safe?
Yes. As your savings are held with Lloyds Bank plc, they will be covered by the Financial Services Compensation Scheme (“FSCS”). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For further information about the scheme refer to the FSCS website fscs.org.uk or call the FSCS on telephone number 020 7741 4100 or 0800 678 1100. Alternatively, log onto lloydsbank.com for further information about the compensation scheme. A copy of the Financial Services Compensation Scheme (“FSCS”) fact sheet is available at shareview.co.uk/clients/tesco/SAYE/Booker
Got a question?
Call the Equiniti Helpline on 0371 384 2487 (or if calling from outside the UK +44 121 415 0897) between 9.00am–5.00pm, Monday to Friday, excluding public holidays in England and Wales.
Choose between one of the three ways to join:
Online:
Apply online at shareview.co.uk/tesco and follow the on-screen instructions.
If you haven’t registered for the Equiniti Employee Share Plans (ESP) Portal, you’ll need your activation code printed on your Invitation Postcard.
When you’ve submitted your application you’ll need to review your confirmation page and print or save it until you get your Option Certificate, which will be emailed to you in December.
Telephone:
Call 0371 384 2487* (or +44 121 415 0897 from outside the UK) and follow the instructions. At the end of the call please make a note of the confirmation number until you get your Option Certificate in the post.
Text:
84247 (or +44 7624808299 if sending from outside the UK)**.
The text message needs to be laid out in a specific way and include the details below with a space between each piece of information:
You’ll receive a text message back confirming the amount you’ve chosen to save. Save this message until you get your Option Certificate in the post.
For example: If your employee number is 12345678 and you were born on 1 December 1975 and you wanted to save £60 in a three year scheme, the text would look like this: SAYE3YR 12345678 01121975 60 Y Y
*Calls to 03 numbers cost no more than a national rate call to 01 or 02 numbers.
**Texts will be charged at your standard network rate.
*** A copy of the Financial Services Compensation Scheme (“FSCS”) fact sheet is available at shareview.co.uk/clients/tesco/SAYE/Booker.
The discounted Option Price is:
£1.98
Invitation date and discounted Option Price set.
5pm closing date for applications.
First money taken from your pay after tax.
Savings contract start date.
Three year saving scheme ends - shares available to buy at the Option Price.
Five year saving scheme ends - shares available to buy at the Option Price.
* Because of the nature of the share price displayed on the Site, Equiniti cannot verify whether it is accurate or up to date.
If Equiniti becomes aware that the end of day share price data is inaccurate or out of date it will remove it from the Site or take other appropriate action.
Equiniti is not responsible or liable for either the accuracy or availability of the share price data that is displayed within the site.
You can save between £5-£500 every four weekly pay period.
If you save in other SAYE schemes, the maximum you can save in total is £500 every four weekly pay period.
1. Your total savings - at the end of your saving period
£
2. Number of Option Price shares you could buy with your savings
3. The potential value of these shares calculated at the Tesco share price you hope to see at maturity*
£
4. If you could choose to sell your shares immediately, you could make this amount of profit*
£
*based on the share price you have entered in step 3 above