The reverse convertible was issued by Citigroup Funding and linked to the stock of Nike. It lasts one year and pays an annualised coupon of between 10-13%. Capital is at risk if the stock breaches its 70% barrier.
The principal protected note offers a 100% capital guarantee, subject to the credit risk of issuer Bank of America. Investors' returns are capped at between 147-157% when the notes reach their five-year maturity, with 100% participation in the S&P 500 index. The notes will be sold by Me