Citigroup Global Markets Holdings Inc. provided convertible bond investors with an opportunity to gain exposure to LVMH Moet Hennessy Louis Vuitton SE through an atypical exchangeable note. The bank marketed up to €400 million of guaranteed cash-settled exchangeable bonds, with the final issue size being €380 million. Under this arrangement, investors do not receive LVMH stock but rather the cash equivalent. The notes carry a 1% coupon, and the exchange price was set at a 25% premium over the reference share price. This unique offer by Citigroup has garnered attention in the financial market due to its distinctive structure and approach.