Published on 5/29/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.1 million autocallables linked to iShares MSCI EAFE, Russell 2000
By Angela McDaniels
Tacoma, Wash., May 29 - Citigroup Inc. priced $1.1 million of 0% autocallable securities due June 6, 2017 linked to the worst performing of the iShares MSCI EAFE exchange-traded fund and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus an annualized premium of 13.6% if each underlying component closes at or above its initial level on May 27, 2015 or May 27, 2016.
If the worst-performing component finishes at or above its initial level, the payout at maturity will be par plus 40.8%. If the worst-performing component falls by 20% or less, the payout will be par. If the worst-performing component falls by more than 20%, investors will be fully exposed to its decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlyings: | iShares MSCI EAFE ETF and Russell 2000 index
|
| Amount: | $1,095,000
|
| Maturity: | June 6, 2017
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If worst-performing component finishes at or above initial level, par plus 40.8%; if worst-performing component falls by 20% or less, par; if worst-performing component falls by more than 20%, full exposure to its decline from initial level
|
| Call: | Automatically at par plus premium of 13.6% per if each underlying component closes at or above initial level on May 27, 2015 or May 27, 2016
|
| Initial levels: | $69.21 for ETF and 1,142.20 for index
|
| Trigger levels: | $55.368 for ETF and 913.760 for index, 80% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | May 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 1730T0Q69
|
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