Citi’s Luxembourg domiciled issuance vehicle for structured products reported a significant decrease in sales volumes across notes, warrants and index-linked certificates during 2022.

Citigroup Global Markets Funding Luxembourg (CGMFL) issued 10,160 structured notes worth US$22.7 billion under its global medium-term note programme in 2022 – down 49% by issuance and 25% by sales volume compared to the 19,726 notes that sold a combined US$30 billion in the previous year. The company also issued 3,728 securities under the Citi warrant programme (2021: 7,106). Of these, 2,179 are index-linked certificates which sold US$1.8 billion – 31% less than the prior year when