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Your foreign exchange specialist

Your life, your money, your way

Our clients demand the very best international wealth management and that includes world-class foreign exchange services.

As part of a global bank, Citi International Personal Bank is perfectly positioned to offer a wide range of currency solutions that support our clients living and working across the world.

Access our knowledge We understand what our international clients need from a foreign exchange specialist because we also operate across a wide range of countries. Fast and efficient access to global currencies is essential,

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 Dual Currency Placements (DCPs), and innovative FX services, such as our FX Order Watch facility.

All these services can be accessed quickly and easily using Citi Online, giving you the freedom and flexibility to transact when it suits you. Your Relationship Manager is also on hand during office hours to provide information or assistance as needed.

Your FX specialistPlus 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 update you on the latest Citi FX views on currency movements from Citi’s Global Analysts, ensuring you have fast access to relevant market knowledge.

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

Local knowledge in foreign exchange solutions

Intro FX spots Dual Currency Placements

FX Order Watch

FX Order Watch benefits

Dual Currency Placements benefits

Glossary Contact us

Products at a glance

Want to exchange your money immediately, securely and conveniently?

FX spots

Transfer your money quickly and securely with Citi’s FX Spots, which help you to manage your wealth globally. Convert over 20 different currencies at market exchange rates, and withdraw your money in the local currency at ATMs across the world (subject to your card being linked to the relevant local currency).

Operate in more than one currency but don’t have the time to watch the markets to ensure you get the best deal?

FX Order Watch

FX Order Watch 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.

Live, work or have interests internationally and want to potentially benefit from fluctuating exchange rates?

Dual Currency Placements

If you operate in more than one currency you could use a Dual Currency 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. Dual Currency Placements are complex short-term investment products that may not be suitable for everyone.

FX SpotsConvert a wide range of currencies and transfer funds securely across the globe

Our global clients need access to straightforward and efficient currency exchange solutions and our FX Spots offer exactly that.

If you need to change your money to a different currency quickly that’s no problem – you can exchange a wide range of currencies with us at Citi reference rates through your Relationship Manager or through Citi Online.

FX Spots are perfect when you have needs in another currency, for instance, when you need to buy something in another country or because you are about to travel abroad.

As well as enabling you to quickly exchange currencies, you can also access your money across the globe in the local currency through any ATM machine (subject to your card being linked to the relevant local currency). This gives you fast and easy access to your wealth, wherever you are, whenever you need it.

And our Citi Global Transfers allow you to move money easily to Citi accounts in over 20 countries immediately.

We understand that exchanging currencies is part of your day-to-day life as an international investor and we work hard to make it easy.


FX Order Watch



Exchange the following currencies:

United States Dollars (USD)

British Pounds (GBP)

Euros (EUR)

Japanese Yen (JPY)

Swiss Francs (CHF)

Canadian Dollars (CAD)

Australian Dollars (AUD)

New Zealand Dollars (NZD)

Danish Krone (DKK)

Norwegian Krone (NOK)

Emirati Dirham (AED

Russian Roubles (RUB)

Turkish Lira (TRY)

Hungarian Forint (HUF)

Romanian Leu (RON)

Polish Zloty (PLN)

Czech Republic Koruna (CZK)

Swedish Krona (SEK)

Hong Kong Dollars (HKD)

Israeli Shekel (ILS)

South Africa Rand (ZAR)

Glossary Contact us

Currency exchange made easy

You can now exchange currencies anytime, anywhere with Citi Online.

FX Order WatchYou set the rate, we do the rest

When 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.

Our FX Order Watch does the hard work for you, allowing you to set your preferred exchange rate and let us do the rest.

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.

FX Order Watch: 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 foreign currency hits your agreed level, we will immediately make the trade on your behalf. The exchange rate will be the “customer rate“ which includes the applicable exchange commission.

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.

Simple orderA 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.

This example, including the indicative exchange rates, are for illustrative purposes only.

Buy order To convert one currency to another at a rate higher than the prevalent market rate, GBP to USD in this example

1.57

1.54

1.52

1.51

Customer rate Watch rate

Order date

FX Commission

Order execution

Sell order To convert one currency to another at a rate lower than the prevalent market rate, to reduce exposure to a currency in declining trends, GBP to USD in this example

1.57

1.54

1.51

1.56 Customer rate

Order date

FX Commission

Order execution

Watch rate


Dual Currency Placements Benefits

FX Order Watch



Glossary Contact us

One-cancel-other orderYou 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.

1.57

1.54

1.51

1.56

Order date

FX Commission

Order execution

Order cancelled

Watch rate

Watch rate

Customer rate

Benefits and Risks of FX Order Watch


FX Order Watch


FX Order Watch 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.

p Set your own exchange rate so you make the trade you want, at the level you desire

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

p Place your FX Order Watch quickly and easily using Citi Online or speak to your Relationship Manager.

Expert guidance

Our dedicated Treasury Sales Officers can give you expert guidance on our FX Order Watch service. They will support you with updates on foreign exchange markets and Citi Analysts foreign exchange forecasts, to help you make decisions on your currency transactions.


Glossary Contact us

Exchange the following currencies:


British Pounds (GBP)

Euros (EUR)

Japanese Yen (JPY)

Swiss Francs (CHF)



New Zealand Dollars (NZD)

Danish Krone (DKK)

Norwegian Krone (NOK)

Emirati Dirham (AED


Turkish Lira (TRY)


Romanian Leu (RON)

Polish Zloty (PLN)


Swedish Krona (SEK)

Hong Kong Dollars (HKD)

Israeli Shekel (ILS)

South Africa Rand (ZAR)

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 exchange-rate loss. The amount you receive at maturity, when its value is calculated in your original base currency, may be lower than the principle you originally deposited.

Regardless of the condition of foreign exchange rate fluctuations, there is a risk of loss of principle 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.

Find out more

See how to place an FX Order Watch with Citi Online at our online Help Centre or contact your Relationship Manager for more details.

Dual Currency PlacementsWhen you operate in two currencies, make the most of both

Many of our clients operate in two or more currencies and with our Dual Currency Placements they can potentially take advantage of exchange rate fluctuations to gain a better return.

Our Dual Currency Placements 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 Dual Currency 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)


Euros (EUR)


Japanese Yen (JPY)

Swiss Francs (CHF)


Turkish Lira (TRY)



Polish Zloty (PLN)

Romanian Leu (RON)


How does a Dual Currency Placement work? p First you select your two currencies –

a Base Currency and an Alternate Currency.

p You could choose GBP as your Base Currency, for example, and invest £50,000, with USD as the Alternate Currency you are happy to be repaid in. You might also choose a term of one month (though you can choose terms from just one week).

p Then you nominate a ‘strike rate’ at which the Base Currency would be converted to the Alternate Currency. The level of this strike rate helps determine the return on your investment, and we can help you to work out your options.

p If exchange rates hit the strike rate your investment will be converted to the Alternate Currency – if not you will be repaid in the Base Currency.



FX Order Watch


Glossary Contact us

Illustration where you choose to invest in British Pounds (GBP)

* 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 USD back to GBP at a lower level than the Strike Rate, you may lose a part of the amount you initially invested, i.e. you may not get back in GBP the original amount of your Initial Investment as the GBP-USD exchange rate is not in your favour.

2 Select the investment Term One month

3 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/USD 1.5900 (spot = 1.5800 plus positive 100 Differential)

Based on the above selection, agree the Interest Rate and

the Option Premium 1

1% gross2 p.a. (1% AER3) plus 7.50% p.a. is derived

1 Select the Base Currency and the Initial Investment amount (This must be equivalent to a minimum of US$20,000)

British Pounds (GBP) £50,000

4 On the Expiry Date, We will pay you the Initial Investment plus your return in one of the two ways shown below

Differential: +100Pips

GBP 1.5900 USD

Strike Price

GBP 1.5800 USD

Spot Rate

Scenario A

Initial Investment and return will be paid in USD since GBP on Expiry Date strengthens to 1.6000 in relation to Strike Rate of 1.5900

Total earned on Expiry Date(Initial Investment + Option Premium) x Strike Rate(GBP £50,000 + 8.50% p.a.) x 1.5900 USD $80,055*

Scenario B

Initial Investment and return will be paid in GBP since GBP on Expiry Date weakens to 1.5100 in relation to Strike Rate of 1.5900

Total earned on Expiry Date(Initial Investment + Option Premium) GBP £50,000 + 8.50% p.a. GBP £50,349

3

1

Investment term : 1 month

9:00 AM. on expiry

date

Foreign exchange fluctuation

B

A

Investmentdate

GBP appreciation

GBP depreciation

1.56

1.57

1.58

1.59

1.60

1.61

1.62

1.63

1.64

1.65

1.66

1.55

1.54

1.53

1.52

1.51

24

Select the Alternate Currency from the list of currencies available

US dollars (USD)

Please note: 1 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 set by Citi International Personal Bank at 7.50%.

2The gross rate is the contractual rate of Interest payable before the deduction of income tax at the rate specified by applicable local law.3 AER stands 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

“I live and earn in the UK and my children study in the US and I frequently have requirement in USD and GBP.

What product would be suitable for me?”

7














GBP 1.5900 USD

Strike Price

GBP 1.5800 USD

Spot Rate

Scenario A



Scenario B



3

1


9:00 AM. on expiry

date


B

A

Investmentdate

GBP appreciation

GBP depreciation

1.56

1.57

1.58

1.59

1.60

1.61

1.62

1.63

1.64

1.65

1.66

1.55

1.54

1.53

1.52

1.51

24


US dollars (USD)






7














GBP 1.5900 USD

Strike Price

GBP 1.5800 USD

Spot Rate

Scenario A



Scenario B



3

1


9:00 AM. on expiry

date


B

A

Investmentdate

GBP appreciation

GBP depreciation

1.56

1.57

1.58

1.59

1.60

1.61

1.62

1.63

1.64

1.65

1.66

1.55

1.54

1.53

1.52

1.51

24


US dollars (USD)






7

This example, including the indicative exchange rates, are for illustrative purposes only.

You can explore different exchange scenarios with our online demo tool which you can find at ipb.citi.com

Benefits and Risks of Dual Currency PlacementsHigher risk but potentially higher returns


FX Order Watch


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 Dual Currency 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 Our view on future market movements. These views are provided by in-house Citi 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 Dual Currency Placement.

p Choose to open and manage your Dual Currency Placement either via Citi Online (non-advisory only), or through your Relationship Manager (advisory or non-advisory).

Are there any risks?Dual Currency Placements 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 Dual Currency 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 Dual Currency Placement. You should have good knowledge of your tax position, or seek professional tax advice. Citi does not provide tax advice

p Dual Currency Placements are not protected by the UK Financial Services Compensation Scheme or the Jersey Depositors Compensation Scheme

p The returns on a Dual Currency Placement are not guaranteed, and neither is the amount you initially invested.


Glossary Contact us

Find out more

Dual Currency Placements offer the potential to benefit from exchange rate fluctuations, and can be set up using Citi Online or through your Relationship Manager. Please contact your Relationship Manager for more details.

Glossary

Alternate Currency (Dual 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 (Dual Currency 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 (FX Order Watch) - The rate at which an order is executed and is the equivalent to the sum of the Citi FX commission and the order rate.

Expiry Date – means the date on which your product or service matures

Foreign Exchange Commission – The charge made by Citi for facilitating the exchange of one currency into another

FX Order Watch – 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 (Dual Currency 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)

One-cancel-other order (FX Order Watch) - You place two orders at the same time with FX Order Watch. 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 FX Order Watch and we make the trade if the currency hits your desired level within the timeframe. If it doesn’t the order expires

Strike Rate (Dual Currency Placement) – means the pre-agreed exchange rate of one unit of the Base Currency into the Alternate Currency

Term – means the period of time from when a product or service begins until the Expiry Date

Total Return (Dual Currency Placement) – the Total Return you receive. This will be a combination of the Initial Investment, Interest Rate and the Option Premium

Watch rate (FX Order Watch) – is the rate specified by you in the foreign exchange market.


FX Order Watch


Glossary Contact usDual Currency Placements benefits


Dual Currency Placements Benefits

FX Order Watch


Important informationThis 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 Dual Currency 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. Israeli clients should contact the Israeli RM who is duly licensed as investment advisor by the Israeli Securities Authority.

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 principle 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 principle 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 N.A., London Branch is authorised and regulated by the Office of the Comptroller of the Currency (USA) and authorised by the Prudential Regulation Authority. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. Our firm reference number with our UK regulators is 124704. 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 122342. Citibank N.A., London Branch is registered as a branch in the UK at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Registered number BR001018. Citibank International Limited has its registered office at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB. Registered number 01088249. Citibank N.A., Jersey Branch is regulated by the Jersey Financial Services Commission. Citi International Personal Bank is registered in Jersey as a business name of Citibank N.A. The address of Citibank N.A., Jersey Branch is P.O. Box 104, 38 Esplanade, St Helier, Jersey JE4 8QB. Citibank N.A. is incorporated with limited liability in the USA. Head office: 399 Park Avenue, New York, NY 10043, USA. © Citibank N.A. 2014. CITI, CITI and Arc Design are registered service marks of Citigroup Inc. Calls may be monitored or recorded for training and service quality purposes. 2250 01/15

Find out how you could benefit from our range of foreign exchange solutions

To see how Dual Currency Placements work, visit us at ipb.citi.com and try our interactive

simulator. You can also learn how to manage each of our FX solutions using Citi Online,

with the help of our short, insightful demo videos.

London

Level 19, Citigroup Centre25 Canada SquareLondon E14 5LBUnited Kingdom

Tel: 0808 109 888 or+44 207 500 1445(if calling from outside the UK)

Fax: +44 (0) 207 500 1726

Jersey

P.O. Box 561, 38 EsplanadeSt HelierJersey JE4 5WQChannel Islands

Tel: 0808 109 888 or+44 207 500 1445(if calling from outside the UK)

Fax: +44 (0) 1534 608 390

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Glossary Contact us

your life, your money, your way - · pdf fileoffer a wide range of currency solutions ......

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