Citigroup Creates Index For CPPI Structure

Citigroup has structured a note to give investors principal protected exposure to the highest yielding stocks in the Dow Jones Industrial Average.

  • 23 Jul 2004
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Citigroup has structured a note to give investors principal protected exposure to the highest yielding stocks in the Dow Jones Industrial Average. The equity exposure comes from an index, termed the 2004-1 Income 10 Buy-Write Index, which tracks the performance of a hypothetical "buy-write" strategy wherein it buys the 10 stocks--excluding Citigroup--in the Dow Jones Industrial Average producing the highest annualized dividend yields and writes call options on these stocks on a quarterly basis, according to Jeffrey Karpf, partner at law firm Cleary, Gottlieb, Steen & Hamilton in New York, which worked with Citigroup on the structure.

This strategy is designed to allow investors upward participation in equity appreciation, capped by the strike prices of the call options, while also limiting downside exposure through premiums received when the options are written.

  • 23 Jul 2004

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 253,106.92 930 8.89%
2 JPMorgan 230,914.50 1036 8.11%
3 Bank of America Merrill Lynch 221,389.46 762 7.78%
4 Goldman Sachs 171,499.26 554 6.03%
5 Barclays 169,046.60 646 5.94%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Jul 2017
1 HSBC 25,385.87 103 7.10%
2 Deutsche Bank 25,125.19 81 7.03%
3 Bank of America Merrill Lynch 22,023.57 59 6.16%
4 BNP Paribas 18,766.65 109 5.25%
5 Credit Agricole CIB 18,157.63 105 5.08%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 JPMorgan 12,578.87 55 8.17%
2 Citi 11,338.07 71 7.36%
3 UBS 10,682.06 44 6.93%
4 Goldman Sachs 10,419.53 53 6.76%
5 Morgan Stanley 10,194.88 57 6.62%