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Citigroup to price trigger return optimization notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 2 - Citigroup Inc. plans to price 0% trigger return optimization securities due May 31, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return that is expected to be 21% to 27% and will be set at pricing. If the index declines by 25% or less, the payout will be par. If the index declines by more than 25%, investors will be fully exposed to the decline from the initial level.
Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as agent.
The notes will price May 27 and settle May 30.
The Cusip number is 17322H818.
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