Published on 2/24/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.49 million buffered jump securities on index basket
By Toni Weeks
San Luis Obispo, Calif., Feb. 24 – Citigroup Inc. priced $5.49 million of 0% buffered jump securities due Feb. 25, 2019 linked to an equally weighted basket of the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket finishes above its initial level, the payout at maturity will be par of $10 plus the greater of the basket return and 19%. Investors will receive par if the basket declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
Citigroup Global Markets Inc. is the underwriter. Distribution is through Morgan Stanley Wealth Management.
Issuer: | Citigroup Inc.
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Issue: | Buffered jump securities
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Underlying basket: | Euro Stoxx 50 index and Russell 2000 index, equally weighted
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Amount: | $5,489,440
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Maturity: | Feb. 25, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If basket gains, par plus greater of basket return and 19%; par if basket declines by up to 10%; 1% loss for every 1% decline beyond 10%
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Initial levels: | 3,490.53 for Euro Stoxx and 1,231.79 for Russell
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Initial basket level: | 1,000
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Basket buffer level: | 90% of initial level
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Pricing date: | Feb. 20
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Settlement date: | Feb. 25
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Underwriter: | Citigroup Global Markets Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2.5%
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Cusip: | 17323B802
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