Published on 8/28/2013 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $16.04 million trigger performance notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 28 - Citigroup Inc. priced $16.04 million of 0% trigger performance securities due Aug. 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par of $10 plus 120.43% of the index return. Investors will receive par if the index falls by up to 40% and will be fully exposed to the index's decline from the initial level if it falls by more than 40%.
Citigroup Global Markets Inc. is the underwriter, and UBS Financial Services Inc. is agent.
Issuer: | Citigroup Inc.
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Issue: | Trigger performance securities
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Underlying index: | S&P 500
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Amount: | $16,035,290
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Maturity: | Aug. 31, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 120.43% of any index gain; par if index falls by 40% or less; full exposure to losses if index finishes below trigger level
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Initial index level: | 1,630.48
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Trigger level: | 978.29, 60% of initial level
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Pricing date: | Aug. 27
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Settlement date: | Aug. 30
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Underwriter: | Citigroup Global Markets Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 3.5%
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Cusip: | 173095167
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