March 5th, 2014

calm

Citigroup Global Markets Limited & Российский Пенсионный Фонд

Сегодня послалa в Ситигрупповский public affairs е-мейл.
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Dear Citigroup,

On 27.11.2012 IFC notes were sold by Citigroup to Russian Government Pension Fund.
ISIN RU000A0JSLP2 - 5 billion http://cbonds.ru/emissions/issue/32375
ISIN RU000A0JSLQ0 - 5 billion http://cbonds.ru/emissions/issue/32373
ISIN RU000A0JSLR8 - 3 billion http://cbonds.com/emissions/issue/32371

These notes sold by Citigroup promise a return linked to the Russian inflation rate. Their recent (November 2013) return implies an inflation rate of zero during 27.11.2012 - 27.11.2013 time period.
In fact, the inflation rate in Russia was 6.5% according to report from Federal State Statistics Service.
Also at http://www.rateinflation.com/inflation-rate/russia-historical-inflation-rate.
How do you explain the discrepancy?

Thank you
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