Published on 3/3/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5 million autocallable securities on Euro Stoxx, Russell 2000
By Jennifer Chiou
New York, March 3 - Citigroup Inc. priced $5 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 a redemption premium of 12.5% per year if each underlying index closes at or above its premium threshold level on any of three review dates beginning on Feb. 27, 2015. The premium threshold level is 100% of the initial level in 2015, 95% of the initial level in 2016 and 90% of the initial level in 2017.
If the notes are not called, the payout at maturity will be par plus the underlying return of the lower-performing index. If that index finishes at or above its premium threshold level, the return will be par plus the premium.
If that index finishes below its initial level but at or above the 75% trigger level, the underlying return will equal zero. Otherwise, the underlying return will equal the index return.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | Euro Stoxx 50 and Russell 2000
|
| Amount: | $5 million
|
| Maturity: | March 6, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus underlying return of lower-performing index; if that index finishes at or above its premium threshold level, the return will be par plus the premium; if the index finishes below its initial level but at or above the 75% trigger level, underlying return will equal zero; otherwise full exposure to decline of least-performing index
|
| Call: | At par plus 12.5% per year if each index closes at or above its premium threshold level on any of three review dates beginning on Feb. 27, 2015
|
| Initial levels: | 3,148.19 for Euro Stoxx, 1,181.72 for Russell
|
| Knock-in levels: | 2,361.14 for Euro Stoxx, 886.29 for Russell, 75% of initial levels
|
| Premium threshold levels: | 100% of the initial level in 2015, 95% of the initial level in 2016 and 90% of initial level in 2017
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 1730T0K65
|
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