NU Online News Service, Aug. 21, 9:56 a.m. – Nationwide Financial Services Inc., Columbus, Ohio, has developed a proprietary, fixed annuity for SouthTrust Corp., Birmingham, Ala., a large bank holding company.

The SouthTrust SecureSaver annuity is a “step-up” fixed annuity that provides customers with annual guaranteed interest rate increases, Nationwide says.

Nationwide Life and Annuity Insurance Company, Columbus, a subsidiary of Nationwide Financial Services Inc., is the official issuer.

The annuity is available only through SouthTrust Insurance Agency, Birmingham, a subsidiary of SouthTrust’s SouthTrust Securities Inc. unit.