Published on 2/21/2013 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.3 million upturn securities on basket of stocks
By Toni Weeks
San Luis Obispo, Calif., Feb. 21 - Citigroup Inc. priced $3.3 million of 0% upturn securities due Feb. 24, 2015 linked to a basket of four equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of the common stocks of 3D Systems, Corp., Google Inc., Netflix, Inc. and LinkedIn Corp.
The initial basket level is 1,000, which is the sum of the products of each basket stock's initial share price on the Feb. 19 strike date and its multiplier. The final basket level is the sum of the products of each basket stock's closing price on the Feb. 19, 2015 valuation date and its multiplier.
If the final basket level is greater than the initial level, the payout at maturity will be par plus triple the return, capped at 38%.
Investors will be fully exposed to any decline in the basket.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Upturn securities
|
| Underlying stocks: | 3D Systems, Corp., Google Inc., Netflix, Inc. and LinkedIn Corp., equally weighted
|
| Amount: | $3.3 million
|
| Maturity: | Feb. 24, 2015
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket gains, par plus 300% of the return, capped at 38%; full exposure to losses
|
| Initial prices: | $60.20 for 3D Systems, $806.85 for Google, $196.45 for Netflix and $160.76 for LinkedIn
|
| Initial multipliers: | 4.15282 for 3D Systems, 0.30985 for Google, 1.27259 for Netflix and 1.55511 for LinkedIn
|
| Initial basket level: | 1,000, which is the sum of the products of each basket stock's initial share price on Feb. 19 and its multiplier
|
| Final basket level: | Sum of the products of each basket stock's closing price on Feb. 19, 2015 and its multiplier
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 1730T0RX9
|
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