Citi’s sales up by more than 50%, dynamic prop play gains momentum

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