US Wrap: Citi offers PCs and McDonald's

The equity-linked securities (Elks) last year and offer an 8-9% coupon. The downside stock barrier is set at 75%. The Intel-linked note, however, offers a higher coupon of 11-14% with a lower barrier of 65% before the investment converts to stock. The more favourable terms are likely due to the increased volatility of Intel stock compared to that of McDonald's, which has demonstrated a smoother performance over the past 12 months.


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