Published on 2/24/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.6 million contingent buffered notes linked to Euro Stoxx 50
By Toni Weeks
San Luis Obispo, Calif., Feb. 24 – Citigroup Inc. priced $5.6 million of 0% contingent buffered notes due Aug. 24, 2016 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par plus the index return. If the index finishes at or below the initial level but at or above the barrier level, 78.1% of the initial level, the payout will be par. Otherwise, the payout will be par plus the index return, with full exposure to losses.
The final index level will be the average of the closing index levels on the five trading days ending Aug. 19, 2016.
Citigroup Global Markets Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA are the agents.
| Issuer: | Citigroup Inc.
|
| Issue: | Contingent buffered notes
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $5,602,000
|
| Maturity: | Aug. 24, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index gains, par plus return; par if index falls by up to 21.9%; otherwise, full exposure to any losses
|
| Initial level: | 3,490.53
|
| Barrier level: | 2,726.104, 78.1% of initial level
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Agents: | J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA
|
| Fees: | 1.25%
|
| Cusip: | 1730T05D7
|
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