Published on 7/31/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.07 million trigger autocallables linked to Apple
By Marisa Wong
Madison, Wis., July 31 – Citigroup Inc. priced $4.07 million of 0% trigger autocallable optimization securities due July 31, 2019 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Beginning one year after issuance, the notes will be called at par of $10 plus a call return of 9% per year if the shares close at or above the initial share price on any quarterly observation date.
If the notes are not called and the shares finish at or above the trigger level, 66% of the initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline in the share price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Inc.
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Issue: | Trigger autocallable optimization securities
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Underlying stock: | Apple Inc. (Symbol: AAPL)
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Amount: | $4,072,500
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Maturity: | July 31, 2019
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | If shares finish at or above trigger level, par; otherwise, investors will be fully exposed to decline in share price
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Call: | At par plus 9% per year if shares close at or above initial share price on any quarterly observation date beginning Aug. 3, 2015
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Initial share price: | $98.38
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Trigger price: | $64.93, 66% of initial share price
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Pricing date: | July 29
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Settlement date: | July 31
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 17322H420
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