求教，哪位高手帮我看看下面产品风险在哪里？

sick

看到citibank的网站上有这么一个产品Structured Products， 第一年利息是7.5％。有哪位tz能够帮我分析一下这个产品风险在哪里？看上去就像定期存单一样。多谢了····

Market Linked Investment Income Switch - the smarter investment choice.

7.50%p.a. for AUD and 5.50%p.a. for USD during the first year of investment

Few will argue that 2008 was a difficult 12 months. The global financial crisis has led to market losses across almost all asset classes with equities, commodities, and even property values all suffering significant declines.

With the likelihood of further bad news on the economy and earnings, investors can turn to simple interest rate structures such as the MLI Income Switch that provide enhanced yields.

MLI Income Switch is designed for Investors seeking to lock in a higher fixed rate in Year 1 while still maintaining exposure to variable interest rates in subsequent years of the Investment. This investment is tailored towards investors who believe interest rates will fall further in the short-term, but will rise again over the medium-term. The Investment is structured as a Deferred Purchase Agreement (DPA).

Product benefits
           100% Capital Protection1
           Enhanced  Interest Rate of 7.50% p.a. for AUD and 5.50% p.a. for USD during the             first year of investment
           Floating  Interest Rate Payments in subsequent years which may allow investors             to benefit from a potential increase in interest rates2
           Returns  are not directly linked to movements in major asset classes such as             equities, commodities or foreign exchange

Product features
           Interest Rate Payments paid quarterly
           4 year investment term
           Callable at the Issuer's Discretion after the first year and quarterly thereafter
           Minimum investment amount of AU$10,000 or US$10,000


网址链接
http://www.citibank.com.au/AUGCB ... roducts_current.htm

[ 本帖最后由 sick 于 2009-4-3 04:19 编辑 ]

黑山老妖

简单的看了看，有几个问题：
1. 第一年的收入是有保障的，但是之后的回报未知。如果一年以后BBSW很低了你的回报也会很低。
2. 只有达到maturity date才有资本保障。不能提早退出，不然可能会亏本。
3. 一年以后citibank可以随时终止这个投资。如果citibank提前终止投资，就没有资本保障了。

看到第三个我觉得不用看下去了。。。

stockcomments.c

结构产品！！！
楼主听说过Lehman Brother Mini Bond没有。
慎重考虑哦。