Citibank in Australia is offering investors a structured product issued by UBS that provides principal protected exposure to the relative performance of emerging market equities versus US and Japan equities.
Outperformance Callable Range Accrual Units Series 3 & 4 are available in five-year Australian dollar and six-year US dollar tranches. Coupons are awarded on a quarterly basis depending on how many days within each period the iShares MSCI Emerging Markets Index Fund outperforms the better performer between the S&P500 and Nikkei225 by at least -10%. The product is callable on a quarterly basis if the knockout criteria are met.
Series 3 units are for local investors, while series 4 units are intended for non-resident Australians.
The offer period extends until 31 January 2008.
Click here to see a product disclosure statement for this product.
