The US bank has seen its sales of structured products in the US increase significantly over the last quarter.
Citi as an issuer group has boosted its structured product sales by over US$1 billion in the second quarter of 2021 with US$3 billion, compared with US$1.9 billion accounting for 667 products in Q2 20. According to the SRP US database, the majority of the 865 products issued by Citi featured worst of option (588/US$2.1 billion), reverse convertible (530/US$2.2 billion), callable (321/US$1.1 billion), and knock out (294/US$1.2 billion) payoff types in Q2 21. The US investment bank’s prop