For Immediate Release Citigroup Inc. (NYSE: C)

Citi Partners with CSOP on New Leveraged and Inverse Product Launch

May 15, 2020

Hong Kong – Citi announced today that it has partnered with CSOP Asset Management to launch a new fund, CSOP Nasdaq-100 Index Daily (2x) Leveraged Product (SEHK: 7266), by providing CSOP with Custody, Fund Administration and Trustee Services.

"We are extremely grateful for the expertise and assistance that Citi has provided with the launch of our latest product and we look forward to continuing to partner with Citi in the future," said Ms. Chen Ding, Chief Executive Officer of CSOP Asset Management.

"I am extremely proud of Citi's role in supporting the launch of this new fund by one of the largest Chinese asset managers in Hong Kong," said Julia Raiskin, Citi's APAC Head of Equities and Securities Services. "CSOP are a major player in the Exchange Traded Products (ETP) space and we look forward to continuing to support them as they bring their products to the market."

According to the Hong Kong Stock Exchange, ETPs are one of the fastest growing investment products and have amassed US$6.4 trillion in assets under management globally as of December 2019.

"Citi continues to be the partner of choice for asset managers seeking to launch their ETPs, and we are privileged to work with CSOP on this new fund," commented David Russell, Citi's Hong Kong Head of Markets & Securities Services. "We continue to invest significantly in our Securities Services operations across APAC to meet the needs of our institutional client base."

Citi's Securities Services provides services to 131 ETPs for 24 Issuers across the APAC region alone.

With over $23.7 trillion of assets under custody and administration and the industry-leading proprietary network spanning 62 markets, Citi's Custody and Funds Services business provides clients with in-depth local market expertise, advanced processing technologies and a wide range of fund services that can be tailored to meet clients' needs.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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