Citigold Your foreign exchange specialist Your life, your money, your way
Local knowledge in foreign exchange solutions Our clients demand the very best international wealth management and that includes world-class foreign exchange services. As part of a global bank, Citi UK is perfectly positioned to offer a wide range of currency solutions. Access our knowledge We understand that our international clients need fast and efficient access to global currencies, and our multi-currency banking helps you achieve this in the easiest way possible. Our foreign exchange solutions range from straightforward transfers to multi-currency investments like (DCPs), and innovative FX services, such as our facility. Your Relationship Manager is on hand to help give you any information and to process your foreign exchange requests. Your FX specialist Plus you can access our specialist Treasury Sales Officers, who are dedicated to helping clients find the best FX solutions for their needs. These highly trained experts can explain each of our products and services to you in detail. They can also up you on the latest Citi FX views on currency movements from Citi s Global Analysts, ensuring you have fast access to relevant market knowledge. Products at a glance Want to exchange your money immediately, securely and conveniently? Operate in more than one currency but don t have the time to watch the markets to ensure you get the best deal? Live, work or have interests internationally and want to potentially benefit from fluctuating exchange rates? FX spots Transfer your money quickly and securely with Citi s FX Spots, which help you to manage your wealth globally. Convert over different currencies at Citi UK reference exchange rates, and withdraw your money in the local currency at ATMs across the world (subject to your card being linked to an account you have with Citi in the relevant local currency). allows you to set your own exchange rate. You tell us the currency and your preferred exchange rate and we ll monitor the markets. If your rate is hit we ll immediately make the trade on your behalf. If you operate in more than one currency you could use a Placement to potentially receive a greater return than with other short-term investments. These innovative products allow you to choose two currencies and you may be paid your return in either. are complex short-term investment products that may not be suitable for everyone. Share our expertise We are experts in foreign exchange markets, and we are keen to share our knowledge with you, to help you find the best FX solutions for your needs. Contact your Relationship Manager for more information Intro FX spots benefits
FX Spots Have the right currency, right when you need it To support your international lifestyle, Citi UK offers deposit accounts in currencies. This gives you straightforward and efficient access to the right currency, at the right time, enabling you to manage your money with ease, wherever you are. We understand that changing currencies is part of your day-to-day life and we work hard to make it easy. Once the accounts are open in your chosen currencies, FX Spot allows you to move money from one currency to another quickly and without hassle. You can do this on Citibank Online, via your mobile phone or by calling us. If you are planning to travel or to buy something in another currency, you can link your Citi debit card to the appropriate currency account and, by doing so, avoid additional transaction fees. You can also combine these accounts with our funds transfer services and global reach to make secure international payments. Thousands of clients each month take advantage of our transaction-fee free Citi Global Transfers to move money to Citi accounts in over 20 countries internationally. For straightforward and efficient exchanging of currencies, you need look no further than Citi. Cross-currency transactions and any funds you transfer between accounts will be subject to the Citi UK reference exchange rates at the time. For details see our Rates and Charges Information. Exchange the following currencies: United States Dollars () British Pounds (GBP) Euros (EUR) Japanese Yen (JPY) Swiss Francs (CHF) Canadian Dollars (CAD) Australian Dollars (AUD) New Zealand Dollars (NZD) Swedish Krona (SEK) Hong Kong Dollars (HKD) Singapore Dollars (SAD) Currency exchange made easy If you want to exchange currencies contact your Relationship Manager who will be happy to explain your options Intro FX spots benefits
You set the rate, we do the rest If you operate internationally you will regularly have foreign exchange requirements, but pinpointing the best time to exchange currencies can be difficult when you are busy. allows you to choose a Target Rate which is the Citi Reference Market Rate - this is the live spot reference exchange rate for the currency pair you have selected. Citi bases this on live rates published by providers such as Reuters and Bloomberg and factors such as the currency pair and the availability and reliability of the providers rates. You can contact your Relationship Manager for details of actual rates used when you transact. We keep a constant check on the world s currency markets so when you place a trade in advance, we will only make the transaction if rates hit your desired level within an agreed timeframe. : How it works. p You tell your Relationship Manager which currencies you want to exchange at the specific rate you want to trade, specifying the term over which you want the deal to happen and the type of order you want to make. Once the order is placed, these funds will not be available for any other transactions and withdrawals until the order is cancelled. p We then monitor the currency markets 24 hours a day, and if the Citi Reference Market Rate for the foreign currency hits your target rate, we will make the trade on your behalf. p The price you pay for this service is a percentage of the Order Amount. The percentage used to determine the applicable price will depend on the size of the Order Amount you wish to exchange. We deduct the price from any order successfully executed. We make the deduction by exchanging your Order Amount at the customer rate, which is a rate that is marginally lower than your Target Rate. We will tell you what the customer rate applicable to your Order is, before you place an Order. Funds that have been converted to the foreign currency are credited to your multi currency account but may not be available until the next business day, depending on the time of order execution. Intro FX spots benefits
You set the rate, we do the rest Simple order A Simple Order is a common type of order. By specifying an FX rate that is more advantageous than the current level, you can aim for a higher exchange gain. You place one order either to buy or sell currency - and we make the trade if the currency hits your desired level within the timeframe. If it doesn t the order expires. Buy order To convert one currency to another at a rate higher than the prevalent Citi Reference Market Rate, GBP to in this example Sell order To convert one currency to another at a rate lower than the prevalent Citi Reference Market Rate, to reduce exposure to a currency in declining trends, GBP to in this example.57.56.54 Target rate Customer rate FX Commission Order execution.57.54 Order execution.5.52.5 Customer rate Target rate FX Commission Order Order This example, including the indicative exchange rates, are for illustrative purposes only. Intro FX spots benefits
You set the rate, we do the rest One-cancel-other order You place two orders at the same time. Whichever target is hit first, that trade is executed and the other order is automatically cancelled. If neither target is hit by the end of the term the order expires..57.56.54 Target rate Customer rate Order execution FX Commission Order cancelled.5 Target rate Order This example, including the indicative exchange rates, are for illustrative purposes only. Intro FX spots benefits
Benefits and Risks of has been designed with our busy clients in mind, because we know you want to make the most out of your money, but you don t have the time to study the financial markets on a daily basis. This service enables you to benefit from our expertise, and to potentially take advantage of currency opportunities as and when they happen. Expert guidance Our dedicated Treasury Sales Officers can give you expert guidance on our service. They will support you with ups on foreign exchange markets and Citi Analysts foreign exchange forecasts, to help you make decisions on your currency transactions. p Tell your Relationship Manager which currencies you want to exchange and the specific rate you want to trade them at p Choose your own term, so when you place a trade you know it will only happen within an agreed timeframe p Change or cancel your order at any time, for instance, when the FX market moves suddenly in an unfavorable direction. p Diversify your assets across currencies. Exchange the following currencies: United States Dollars () British Pounds (GBP) Euros (EUR) Japanese Yen (JPY) Swiss Francs (CHF) Canadian Dollars (CAD) Australian Dollars (AUD) New Zealand Dollars (NZD) Swedish Krona (SEK) Hong Kong Dollars (HKD) Singapore Dollars (SAD) Risk of loss of principal When the exchange rate to convert a foreign currency to your original base currency fluctuates due to market conditions, there is a risk of loss of principal due to an exchangerate loss. The amount you receive at maturity, when its value is calculated in your original base currency, may be lower than the principal you originally deposited. Regardless of the condition of foreign exchange rate fluctuations, there is a risk of loss of principal because the customer rate applied for converting a foreign currency back into your base currency includes Citi s foreign exchange commission. Once the order is matched or executed, the product cannot be cancelled and the Funds placed are not available for further transactions or withdrawal until the order is executed, cancelled or expired. Intro FX spots benefits
2 Select the investment Term One month Determine your Strike Rate by setting your Differential. Set your Strike Rate to be equal to the Spot Price or any other available Differentials GBP/.5900 (spot =.5800 plus posit 00 Differential) I live and earn in the UK and my study in the US agree and I frequently have Rate requirement Based onchildren the above selection, the Interest and in and GBP. % gross2 p.a. (% AER) What product would be suitable for me? plus 7.50% p.a. is derive the Option Premium When you operate in two currencies, make the most of both Illustration where you choose to invest Pounds 4 On the Expiry Date,in WeBritish will pay you the(gbp) Initial Investment plus your return in one of the two ways shown below Many of our clients operate in two or more currencies and with our they can potentially take advantage of exchange rate fluctuations to gain a better return. Our are innovative short-term foreign exchange products that are suitable for sophisticated investors. They can potentially offer greater returns than Time Deposits, although they do carry greater risks to your capital. If you regularly use more than one currency and are happy to take out an investment where the return may be paid in one of two of your chosen currencies, a Placement could be for you. You choose a Base and an Alternate currency from those listed below, and any return may be repaid to you in either of these: p British Pounds (GBP) United States Dollars () Euros (EUR) Australian Dollars (AUD) Japanese Yen (JPY) Swiss Francs (CHF) Canadian Dollars (CAD) Select the Base Currency and the Initial Investment amount (This must be equivalent to a minimum of US$20,000) How does a Select the Alternate Currency from the list of currencies available Placement work? I live and earn in the UK and my children study in the US and I frequently have requirement in and GBP. GBP appreciation product wouldyour be suitable me? 2 Select the investment Term p FWhat irst you select two for currencies 2 a Base Currency and an Alternate.66 Determine your Strike Rate by setting your Differential. Currency. Illustration where you choose to invest in British Pounds (GBP) Set your Strike Rate to be equal to the.65 Spot Price or any other available Differentials month Investment term :One month.64 p You couldthe choose GBP as Base Select Base Currency andyour the Initial Investment amount British Pounds (GBP).6 Based on the above selection, (This must equivalent to a minimum 50,000agree the Interest Rate and Currency, forbeexample, and investof US$20,000).62 the Option Premium Foreign exchange 50,000, with as the Alternate Select the Alternate Currency from the list GBP.5900 US dollars ().6 fluctuation of currencies available Currency you are happy to be repaid 4 On the Expiry Date, We will pay you the Initial Investment.60 Strike Price plus your return in one of the two ways shown below in.2 You might also choose a term of.59 Select the investment Term One month Differential: +00Pips one month (though you can choose.58 GBP.5800 9:00 AM. Determine your one Strikeweek). Rate by setting your Differential. GBP/.5900 terms from just on expiry Investment Set your Strike Rate to be equal to the Spot Price or any Differentials GBP appreciation p Thenother youavailable nominate a strike rate at which the would be Rate and Based on thebase abovecurrency selection, agree the Interest.66 the Option Premium converted to the Alternate Currency..65 The level of this strike rate helps.64 4 On the Expiry Date, We will pay you the Initial Investment.6 determine the return on your plus your return in one of the two ways shown below.62 investment, and we can help you to GBP.5900.6 work out your options..60 Investment.62 Strike Price.6 Foreign exchange fluctuation A.58.57 Scenario B Initial Investment and return will since GBP on Expiry Date weake relation to Strike Rate of.5900 Initial Investment and return will be paid in Scenario A A GBP depreciation Total earned on Expiry Date GBP 50,000 + 8.50% p.a. GBP (Initial Investment + Option Premium) x Strike Rate *In Scenario B, We do not exercise Our Currency Opt (GBP 50,000 + 8.50% p.a.) x.5900 Alternate Currency and We will pay your Initial Inves Base Currency. $80,055* *In Scenario A, you should be aware that if you chose to GBP at a lower level than the Strike Rate, you may you initially invested, i.e. you may not get back in GB your Initial Investment as the GBP- exchange ra TheExpiry gross rate is the contractual rate of Interest payable before the deduction of income tax at the rate specified by applicable local law. Total earned 2on Date Total earned on Expiry Date.54 AER stands for Annual Equivalent Rate and illustrates what the Interest rate would be if Interest was paid and compounded once each year. B (Initial Investment + Option Premium) x (Initial Investment + Option Premium).5 Indicative exchange rate for illustration purposes only Strike Rate GBP 50,000 + 8.50% p.a. GBP 50,49.52 (GBP 50,000 + 8.50% p.a.) x.5900 7.5 $80,055* *In Scenario B, We do not exercise Our Currency Option to pay you in the Alternate Currency and We will pay your Initial Investment and return in the Base Currency. *In Scenario A, you should be aware that if you chose to convert your back you initially invested, i.e. you may not get back in GBP the original amount of your Initial Investment as the GBP- exchange rate is not in your favour. Initial Investment and return will be paid in GBP since GBP on Expiry Date weakens to.500 in Please note: relation to Strike Rate of.5900 The Option Premium can vary depending on the Base and Alternate Currency, the Term, the Strike Rate and current market conditions; in this example, the Option Premium has been.55 set by Citi International Personal Bank at 7.50%. The gross rate is the contractual rate of Interest payable before the deduction of income tax at the rate specified by applicable local law. AER stands B for Annual Equivalent Rate and illustrates what the Interest rate would be if Interest was paid and compounded once each year. Indicative exchange rate for illustration purposes only 2.54.5.52.5 A Total earned on Expiry Date (Initial Investment + Option Prem Strike Rate (GBP 50,000 + 8.50% p.a.) x.5 $80,055* to GBP a lower level thanpurposes the Strike Rate, you may lose a part of the amount This example, foratillustrative only. Scenario B including the indicative exchange rates, are.56 GBP depreciation % gross2 p.a. (% AER) plus 7.50% p.a. is derived (Initial Investment + Option Prem.5 GBP depreciation.59 Spot Rate Initial Investment and return wil since GBP on Expiry Date strengthens to.6000 Total earned on Expiry Date in relation to Strike Rate of.5900 B.52 Foreign.5 exchange fluctuation Scenario A set by Citi International Personal Bank at 7.50%..60 GBP.5800 Investment term : month.55 % gross2 p.a. (% AER ) plus 7.50% p.a. is derived.54 4 Scenario A Scenario B 4 GBP.5800.58 Initial Investment and return will be paid in Initial Investment and return will be paid in GBP.57 Spot Rate since GBP onplease Expiry Date strengthens to.6000 since GBP on Expiry Date weakens to.500 in.56 note: Option Premium can vary depending on the Base and Alternate the Term, Strike Rate and current market conditions; in this example, the O in relation to The Strike Rate of.5900 relation tocurrency, Strike Rate of the.5900.55.6 GBP.5900 2 4 9:00 AM. on expiry since GBP on Expiry Date streng GBP/.5900 (spot =.5800 plus positive in relation to Strike Rate of.590 00 Differential) on expiry.59 Differential: +00Pips.64 plus.57 (spot =.5800 positive Spot Rate 00 Differential).56 9:00 AM. Strike Price p If exchange rates hit the strike rate GBP appreciation your investment will be 2converted to Investment term : month the Alternate.66Currency if not you will be repaid.65in the Base Currency. FX spots US dollars () Investment Differential: +00Pips Intro British Pounds (GBP) 50,000 Total earned on Expiry Date (Initial Investment + Option Premium) GBP 50,000 + 8.50% p.a. GBP 50,49 7 Dual Currency *In Scenario B, We do not exercise Our Currency Option to pay you in the Alternate Currency and We will pay your Initial Investment and return in the benefits Base Currency. *In Scenario A, you should be aware that if you chose to convert your back
Benefits and Risks of Higher risk but potentially higher returns These innovative foreign exchange products offer the chance of a higher return on your money than other short-term deposits if you are comfortable being repaid in one of two currencies of your choosing. A Placement could potentially provide an opportunity to generate greater returns than from short term cash investments. The benefits include: p Diversification of your portfolio by gaining exposure to the foreign exchange market. p Instant, live pricing reflecting any changes in the market. p Tailoring your investment to suit your view, expectation and requirements. p A wide variety of currency pairs and Strike Rates. p Access to Citi s Market Research and Analysis, giving you views on market movements. These views are provided by in-house Citigroup analysts. Any conflict that arises between these views and activities conducted by Citi for you are dealt with in accordance with the Conflict Of Interest Policy provided to you at account opening (and available on request). p Our booking times span the trading hours of a variety of markets making it more convenient for you to take out a Placement. p Choose to open and manage your Dual Currency Placement through your Relationship Manager (advisory or non-advisory). Are there any risks? are complex foreign currency investments and as such they come with risks attached. Because of this they are best suited to experienced investors who fully understand the products. Below are some of the risks you should consider before investing in a Placement: p You could receive less than your initial capital if, at the Expiry Date, you choose to convert the Alternate Currency back into the Base Currency, as this will be done at the prevailing exchange rate. p There may be tax implications to taking out a Placement. You should have good knowledge of your tax position, or seek professional tax advice. p are not protected by the UK Financial Services Compensation Scheme or any other government agency as your Initial Investment and your Dual Currency Placement are not deposits. p The returns on a Placement are not guaranteed, and neither is the amount you initially invested. There are more risks to be aware of when considering a Placement. Please speak to your Relationship Manager for more information and refer to the Placement Terms and Conditions provided to you before your first transaction. Find out more allow you to potentially benefit from currency fluctuations. Contact your Relationship Manager for more information on these innovative products Intro FX spots benefits
Alternate Currency ( Placement) means the currency in which We buy the Base Currency from you, in the event We choose to exercise the Currency Option Base Currency the original currency in which the Initial Investment or trade is made Currency Option ( Placement) the right (but not the obligation) for Citi to convert your Initial Investment, Interest and Option Premium into the Alternate Currency at the Strike Rate Customer Rate ( ) this is the rate you receive on Order Execution. It is a rate that is marginally lower than your Target Rate as it includes the price you pay for this service. The price you pay is a percentage of the Order Amount and varies based on the size of the Order Amount Expiry Date means the on which your product or service matures Foreign Exchange Commission The charge made by Citi for facilitating the exchange of one currency into another a new service where you set your preferred exchange rate and we make the trade if currency rates hit that level FX Spots a straightforward foreign currency exchange Initial Investment ( Placement) means the initial principal sum invested by you and which We may buy back from you in the Alternate Currency (this must be at least US$20,000 or currency equivalent) Citi Reference Market Rate Citi Reference Market Rate - this is the live spot reference exchange rate for the currency pair you have selected. Citi bases this on live rates published by providers such as Reuters and Bloomberg and factors such as the currency pair and the availability and reliability of the providers rates. You can contact your Relationship Manager for details of actual rates used when you transact. One-cancel-other order ( ) You place two orders at the same time with. Whichever target is hit first, that trade is executed and the other order is automatically cancelled. If neither target is hit by the end of the term the order expires Simple order You place one order with and we make the trade if the currency hits your desired level within the timeframe. If it doesn t the order expires Strike Rate ( Placement) means the pre-agreed exchange rate of one unit of the Base Currency into the Alternate Currency Target Rate ( ) is the rate specified by you at which you wish to exchange currencies Term means the period of time from when a product or service begins until the Expiry Date Total Return ( Placement) the Total Return you receive. This will be a combination of the Initial Investment, Interest Rate and the Option Premium. Intro FX spots benefits
Contact Us Find out how you could benefit from our range of Foreign Exchange solutions Visit our website citibank.co.uk or, contact us using the details below, or if you are an existing Citigold client contact your Relationship Manager. St Pauls Branch Units & 5 Paternoster House St Paul s Churchyard London, EC4M 8AB Tel: 0800 005 500 or +44 207 500 5500 (If calling outside the UK) Hanover Square Branch Hanover Square London, WS HD Tel: 0800 005 500 or +44 207 500 5500 (If calling outside the UK) Cabot Place Branch Canary Wharf Promenade Level Cabot Place East Canary Wharf London, E4 4QS Tel: 0800 005 500 or +44 207 500 5500 (If calling outside the UK) Canada Square Branch Canary Wharf Citigroup Centre 25 Canada Square Canary Wharf London, E4 5LB Tel: 0800 005 500 or +44 207 500 5500 (If calling outside the UK) Important information The Bank is bound by the provisions of the General Code of Conduct for Authorised Financial Services Providers and their Representatives, 200 (as amended) (Code), which Code requires the Bank to adopt, implement and maintain a conflicts of interest management policy that complies with the requirements of the Code (Conflicts Policy). In compliance with the Code, the Conflicts Policy details the manner in which the Bank shall avoid conflicts of interests in its dealings with (or relevant to) the Client or, under circumstances where avoidance is not possible, the manner in which the Bank shall identify, manage and mitigate such conflicts of interest. The Conflicts Policy further provides for the Bank s duty to disclose to the Client the existence of a conflict of interest which is or may be relevant to the Client. A copy of the Conflicts Policy will be provided on request - requests can be made in person, by telephone, telefax or electronic mail. This document has been prepared for your personal use for information purposes only and is not intended as an offer or personal recommendation for the purchase or sale of a Placement or any other investment. The information in this document has been prepared without taking account of the objectives, financial situation or needs of any particular investor. Accordingly, investors should, before acting on the information, consider its appropriateness, having regard to their objectives, the risks, and their financial situation and their needs. Any investment decisions should be made based on a review of your particular circumstances with your financial adviser and other professional advisers as appropriate. Prior to making any investment decision, you should fully understand the economic risks and merits as well as the legal, tax and accounting characteristics and consequences of the transaction, and make your own determination that the investment is consistent with your objectives and that you are able to assume the risk. This document is not an offer to sell nor is it a solicitation of an offer to enter into a transaction and all expressions of opinion are subject to change without notice. All products and services offered by Citi International Personal Bank are subject to terms and conditions and you must agree to be bound by them before we can offer any product or service to you. In all cases we recommend that qualified tax advice is sought where relevant. Interest rates are variable. Some products and services may not be available for individuals residing in certain jurisdictions. This information is confidential and intended solely for the use of Citibank N.A., Citigroup Inc., our affiliates and you. It is not to be reproduced or distributed to any other person except to your professional advisers. All effort has been made to ensure that information contained in this document is accurate. We support languages of our target market countries but depending on circumstances this option may not always be available. Citibank N.A., or its representatives make no warranties and assumes no liability or responsibility with respect to the products and services provided by any third party entity(ies). Investment products are not bank deposits and are neither obligations of, nor guaranteed by, Citigroup, or any of its affiliates, unless otherwise stated. They are subject to investment risks, including Issuer risk and possible loss of the principal amount invested. Past performance is not indicative of future results, investments can go down as well as up. This means you might get back less than you invested. Investors investing in investment products denominated in non-local currency may be subject to Risk of Exchange Rate fluctuations if the investment is not in your home currency, which could result in loss of principal if converted back to your home currency. We will provide you with full details of any fees, penalties or surrender charges that apply to any investment you make. We will advise you whether an investment transaction has been made for you on an execution only or advisory basis. Citibank International Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our firm reference number with our UK regulators is 2242. Citibank N.A., London Branch is registered as a branch in the UK at Citigroup Centre, Canada Square, Canary Wharf, London E4 5LB. Registered number BR0008. Citibank International Limited has its registered office at Citigroup Centre, Canada Square, Canary Wharf, London E4 5LB. Registered number 0088249. Citibank N.A. is incorporated with limited liability in the USA. Head office: 99 Park Avenue, New York, NY 004, USA. Citibank N.A. 205. CITI, CITI and Arc Design are registered service marks of Citigroup Inc. Calls may be monitored or recorded for training and service quality purposes. 20 05/5 Intro FX spots benefits