Published on 2/4/2016 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.44 million dual directional barrier notes on Euro Stoxx
By Tali Rackner
Norfolk, Va., Feb. 4 – Citigroup Inc. priced $2.44 million of 0% dual directional barrier securities due Aug. 1, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the 77.85% barrier level, the payout at maturity will be par plus the absolute index return, up to a maximum return of 22.15%.
Otherwise, the payout will be par plus the index return, with full exposure to losses.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Dual directional barrier securities
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Underlying index: | Euro Stoxx 50
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Amount: | $2.44 million
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Maturity: | Aug. 1, 2017
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Coupon: | 0%
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Price: | Par of $1,000
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Payout at maturity: | If the index return is greater than or equal to 77.85%, par plus the absolute index return, caped at 22.15%; otherwise, full exposure to decline
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Initial index level: | 3,045.09
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Barrier level: | 2,370.603, 77.85% of initial level
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Pricing date: | Jan. 29
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Settlement date: | Feb. 3
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.25%
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Cusip: | 17298C6P8
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