Published on 3/31/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $5.02 million trigger autocallables linked to S&P 500
By Jennifer Chiou
New York, March 31 - Citigroup Inc. priced $5,022,520 of 0% trigger autocallable optimization securities due March 31, 2016 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Beginning on June 23, 2014, the notes will be called at par of $10 plus a call return of 6% per year if the index closes at or above the initial level on any quarterly observation date.
If the notes are not called and the index finishes at or above the trigger level, 84% of the initial level, the payout at maturity will be par. Otherwise, investors will be exposed to the index's decline from the initial level.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the agents.
Issuer: | Citigroup Inc.
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Issue: | Trigger autocallable optimization securities
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Underlying index: | S&P 500
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Amount: | $5,022,520
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Maturity: | March 31, 2016
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par if index finishes at or above trigger level; otherwise, full exposure to decline
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Call: | Automatically at par plus 6% per year if index closes at or above initial level on any quarterly observation date from June 23, 2014 onward
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Initial index level: | 1,849.04
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Trigger level: | 1,553.19, 84% of initial share price
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Pricing date: | March 27
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Settlement date: | March 31
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Agents: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 17321F144
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