Customers can choose 100 per cent capital protection or 80 per cent capital protection.
The benefit of a lower level of capital protection is that investors can profit from a higher capital growth rate.
Interest in capital protection has increased as equity markets have grown more volatile.
"Capital protection is valuable for investors who would like to return to the share market but who may be too nervous to buy shares outright," CBA head of structured investments Suzanne Salter said.
"However, the current level is a tempting entry point, with the ASX200 trading at levels not seen since 2003."
Index investments had become more appealing as stock picking was proving to be a challenge in the current market, Salter said.
"While Capital Series appeals to a wide range of investors, it is best suited for those who intend to hold the investment until maturity," she said.
The Capital Series Australia II opened on 23 February and will close on 3 April 2009. The series is available to individual investors, companies, trusts and self-managed super funds.
