‘100% Principal Protection plus Maximum Return of 17.55 % p.a. - Citibank Korea Equity Linked Deposit (ELD)

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2010-01-07 10:30

Seoul--(뉴스와이어)--Citibank Korea (CEO, Ha Yung Ku, www.citibank.co.kr) has launched ‘Start Korea ELD No. 1’ and ‘Pride Korea ELD No. 1’ that will be on offer temporarily until Jan. 19, 2010. These products are time deposits whose principal is 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)

‘Start Korea ELD No. 1’ offers 17.55% p.a.(before tax) of maximum yield and has a tenor of 1.5 year, and is linked to Kospi 200 Index. ‘Start Korea ELD No. 1’ provides a fixed rate of 6.02% p.a. (before tax) if the Kospi 200 Index ever exceeds the benchmark index by 40% or more on initial day, and rates of min 0% to max 17.55% p.a. depending on the index's actual growth if the index does not ever outperform Kospi200 on initial day by 40% or more.

‘Pride Korea ELD No. 1’ offers a maximum yield of 14.00 % p.a. (before tax) on tenor of 1 year, linked to Kospi 200 Index. ‘Pride Korea ELD No. 1’ provides a fixed rate of 5.5% p.a. (before tax) if the Kospi 200 Index ever exceeds the benchmark index by 30% or more on initial day, and rates of min 0% to max 14.00% p.a. if the Index does not ever outperform the benchmark index by 30% or more.

Customers who subscribe to ‘Start Korea ELD No. 1’ will get special rates on CD(6.0 %, before tax) up to their ELD subscription amount if they open both CD and ELD 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 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