Published on 2/27/2014 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.52 million autocallables linked to Euro Stoxx, Russell 2000
By Angela McDaniels
Tacoma, Wash., Feb. 27 - Citigroup Inc. priced $1.52 million of autocallable securities due March 6, 2017 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus 13.25% per year if each underlying index closes at or above its premium threshold level on either of two review dates. The premium threshold level is 100% of the initial level on Feb. 25, 2015 and 95% of the initial level on Feb. 25, 2016.
If the notes are not called and the final level of the worst-performing index is at least 90% of its initial level, the payout at maturity will be par plus 39.75%. If the worst-performing index's final level is 75% or more of its initial level but less than 90% of its initial level, the payout will be par. If the worst-performing index's final level is less than 75% of its initial level, investors will be fully exposed to its decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Euro Stoxx 50 index and Russell 2000 index
|
| Amount: | $1,518,000
|
| Maturity: | March 6, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final level of worst-performing index is at least 90% of its initial level, par plus 39.75%; if worst-performing index's final level is 75% or more of its initial level but less than 90% of its initial level, par; if worst-performing index's final level is less than 75% of its initial level, full exposure to its decline
|
| Initial index levels: | 3,157.48 for Euro Stoxx 50 and 1,173.95 for Russell 2000
|
| Trigger level: | 2,368.11 for Euro Stoxx 50 and 880.46 for Russell 2000
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 1730T0H93
|
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