‘100% Principal Protection plus Maximum Return of 21.02 % p.a. - Citibank Korea Equity Linked Deposit (ELD)

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2009-09-23 10:27

Seoul--(뉴스와이어)--Citibank Korea (CEO, Ha Yung Ku, www.citibank.co.kr)has launched ‘Advance Korea ELD No. 1’ and ‘ Leading Korea ELD No. 1’, that will be on offer temporarily until Sep 16. These products are combinations of equities and deposits, and are suitable for customers who want their principal amounts protected at maturity or who seek investment returns that are higher than those of ordinary term deposits.(As fees are charged on early redemption, investors may be exposed to potential principal loss)

‘Advance Korea ELD No. 1’offers max 21.02 %p.a.(before tax) of maximum yield and has a tenor of 1 year and 6 months, and is linked to Kospi 200 Index. ‘Advance Korea ELD No. 1’ provides a fixed rate of 4. 50% p.a. (before tax) if the Kospi 200 Index(including index performance at mid-day)rises by more than 40% or more vs Kospi200 index on initial day during observation period, and rates of min 0% to max 21.02 % p.a. depending on the actual index growth if Kospi 200 Index does not ever outperform Kospi200 index on initial day by 40% or more.

‘Leading Korea ELD No. 1’offers a maximum yield of 13.50 % p.a. (before tax) on tenor of 1 year, linked to KOSPI 200 Index. ‘ Leading Korea ELD No. 1’ provides a fixed rate of 4.70% p.a. (before tax) if ‘ Leading Korea ELD No. 1’ever exceeds the benchmark index by 30% or more, and rates of min 0% to max 13.50% p.a. depending on the actual index growth if Kospi 200 Index does not ever outperform the benchmark index by 30% or more.

Customers who subscribe to ‘Advance Korea ELD No. 1’ will get special rates on CD(5.2 %, before tax)and time deposit ( 5.0 % before tax)up to their ELD subscription amount if they open both CD and TD accounts with tenor of 1 year or more, which will be an excellent opportunity for customers to enjoy rates higher than BM rate or exception rates normally offered for deposit products.

As financial markets grew more volatile recently and varied investment products make negative returns, these Linked Deposits are drawing keen attention from customers who want 100% principal protection plus high returns. The Linked Deposits return full principal amounts to subscribers at maturity even if the concerned indices decline and offer opportunities to invest in diverse underlying assets without risking principal loss as long as they are not redeemed early.

*Note : Principal protection is assured only if the products are held to maturity. Early redemption results in rate of 0% and early redemption fees will risk principal. Even at maturity, the rate may be 0% depending on the movement of the linked index.

* For any inquiries, please contact Shim Jae-Won, Consumer Liabilities/Bancassurance of Citibank Korea at 02-2004-2478.

About Citibank Korea Inc.

Citibank had opened its first branch in Korea in 1967, and was born newly as Citibank Korea Inc. (CKI) through integration with KorAm Bank in 2004. CKI serves customers at 231 branches (as of end of March in 2009) in Korea by providing a wide range of premier financial products and services with strengths as in-depth know-how and global network of Citi as well as more than 100 years of history and 200 million customers in more than 100 countries. CKI delivers new financial world to its customers through development of innovative financial products and services that encompass corporate and investment banking to consumer banking, private banking, and wealth management. Furthermore, Citibank Korea Inc., as a responsible corporate citizen, conducts diverse community activities in the areas of financial education, next generation education, women, diversity, community, and environment consistently in cooperation with sound non-profit organizations.

웹사이트: http://www.citibank.co.kr