Published on 4/30/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.12 million trigger return optimization notes on S&P MidCap 400
By Marisa Wong
Madison, Wis., April 30 – Citigroup Inc. priced $3.12 million of 0% trigger return optimization securities due April 30, 2018 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain, up to a maximum return of 32%.
If the index falls by up to the trigger level, 80% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the underwriters.
| Issuer: | Citigroup Inc.
|
| Issue: | Trigger return optimization securities
|
| Underlying index: | S&P MidCap 400
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| Amount: | $3,121,500
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| Maturity: | April 30, 2018
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 150% of any index gain, capped at 32%; par if index falls by up to 20%; full exposure to any losses if index finishes below trigger level
|
| Initial index level: | 1,521.89
|
| Trigger level: | 1,217.51, 80% of initial price
|
| Pricing date: | April 27
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| Settlement date: | April 30
|
| Underwriters: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17323B430
|
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