US wrap: Citi issues principal-protected note

Citi has issued a rare principal-protected product, otherwise JP Morgan led the way with reverse convertibles and an accelerated growth product.

Citi's five-and-a-half-year Principal Protected Notes Based on the Value of the S&P 500 Index offer a 100% participation rate in the rise of the index, capped at 45–55%. Because of its principal protection, it is considered to have a very low risk and the FVC riskmap score is 2.

Morgan Stanley issued three new products, including one called Jump Securit