Draw a picture representing the payoffs to the investor. What is the cost to the investor for buying this product? For example, consider what the investor loses in comparison to a regular CD? Similarly, what does the investor lose in comparison to an investment in the S&P 500 Index Fund? Explain why an investor might be interested in this product. Why would Citibank offer such a product? What is the risk exposure to the bank from offering this product? How might the bank hedge this risk exposure? Discuss the difference the option that truly underlies the CD and the simplified version of the option that you have analyzed