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Old March 12th, 2016, 01:41 PM
Default GDN Citibank

I want to get the details regarding Global Depositary Note (GDN) of Citibank so can you please provide me?
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Old March 12th, 2016, 01:58 PM
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Join Date: Nov 2011
Default Re: GDN Citibank

Citibank is the consumer division of financial services multinational Citigroup. Citibank was established in 1812. Its head quarter is located in New York City, United States.

Global Depositary Note (GDN)

A Global Depositary Note (GDN) is a debt instrument created by a depositary bank, such as Citibank, that evidences ownership of a local currency-denominated debt security.

GDNs emulate the terms of particular local bonds; however, they trade, settle, and pay interest and principal in U.S. dollars, and are Euroclear/ Clearstream/ DTC-eligible

Citi Depositary Receipt Services will generally establish a GDN program in a respective jurisdiction in response to investor demand.

Benefits -

DVP/RVP settlement versus U.S. dollars

Ability to trade with multiple broker-dealers

Expanded universe of emerging market debt securities available to investors

Access to local market liquidity afforded by fungibility between the GDNs and the underlying bonds

Facilitation of Euroclear/ Clearstream/DTC eligibility on local bonds where previously unavailable

Citibank Global Depositary Note (GDN)

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