‘100% Principal Protection plus Maximum Return of 22.05 % p.a. - Citibank Korea Equity Linked Deposit (ELD)

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2009-11-16 11:01

Seoul--(뉴스와이어)--Citibank Korea (CEO, Ha Yung Ku, www.citibank.co.kr) has launched ‘Korea Taiwan ELD No. 1’ and ‘Plus Korea ELD No. 1’ that will be on offer temporarily until Nov. 24. These products are time deposits whose interests rates are partially or totally linked to market index, and are suitable for customers who want their principal amounts to be protected at maturity or who seek investment returns that are greater than those of ordinary time deposits.(As fees are charged on early redemption, investors may be exposed to potential principal loss)

‘Korea Taiwan ELD No. 1’ offers max 22.05% p.a.(before tax) of maximum yield and has a tenor of 1 year, and is linked to Kospi 200 Index and MSCI Taiwan Index. ‘Korea Taiwan ELD No. 1’ provides a fixed rate of 5.50% p.a. (before tax) if the both Kospi 200 Index and MSCI Taiwan Index ever exceeds the benchmark index by 30% or more on initial day, and rates of min 0% to max 22.05% p.a. depending on the index's actual growth if the index does not ever outperform Kospi200 and MSCI Taiwan index on initial day by 30% or more.

‘Plus Korea ELD No. 1’ offers a maximum yield of 15.00 % p.a. (before tax) on tenor of 1 year, linked to Kospi 200 Index. ‘Plus Korea ELD No. 1’ provides a fixed rate of 5.5% p.a. (before tax) if the both Kospi 200 Index ever exceeds the benchmark index by 30% or more on initial day, and rates of min 0% to max 15.00% p.a. depending on the worst performer's actual index growth if the Index does not ever outperform the benchmark index by 30% or more.

As financial markets grow 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.

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 230 branches (as of end of September 2009) in Korea by providing the first class financial products and services based on the various products and know-how of Citi with global network including more than 100 years of history and 200 million customers in more than 100 countries. CKI delivers new financial world to the customers through development of innovative financial products and services, encompassing from 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, woman, diversity, community, and environment consistently in corporation with sound non-profit organizations.

웹사이트: http://www.citibank.co.kr