Bond CitiCorp 0% ( XS1273450079 ) in USD

Issuer	CitiCorp
Market price	100 % ⇌
Country	United States
ISIN code	XS1273450079 ( in USD )
Interest rate	0%
Maturity	30/09/2059
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Minimal amount	1 000 000 USD
Total amount	50 000 000 USD
Detailed description	Citigroup is a multinational investment bank and financial services corporation providing a wide range of financial products and services, including consumer banking, corporate and investment banking, securities brokerage, and asset management, across numerous global markets. Citigroup, a globally diversified financial services holding company incorporated in the United States and a leading provider of a broad range of financial products and services to consumers, corporations, governments, and institutions, has issued a distinctive zero-coupon bond (ISIN: XS1273450079) maturing on September 30, 2059. This long-dated debt instrument, denominated in USD, currently trades at 100% of its face value, reflecting its unique characteristic of carrying a 0% interest rate, meaning investors will realize their return solely at its distant maturity rather than through periodic coupon payments. The total issuance size for this bond is $50,000,000, with a substantial minimum purchase requirement set at $1,000,000, indicating its appeal to institutional or high-net-worth investors. It is crucial to note that despite a stated "payment frequency" of two, typically implying semi-annual payments, as a zero-coupon bond, no cash interest payments are distributed bi-annually; rather, the yield is inherently embedded in the difference between the acquisition price and the full principal amount received upon its September 30, 2059 maturity.