Published on 12/30/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1.84 million trigger return optimization notes on S&P MidCap 400
By Marisa Wong
Madison, Wis., Dec. 30 – Citigroup Inc. priced $1.84 million of 0% trigger return optimization securities due Dec. 29, 2017 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above the initial level, the payout at maturity will be par of $10 plus 1.5 times the return, up to a maximum return of 30.5%.
If the index falls by up to the trigger level, 80% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Inc.
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Issue: | Trigger return optimization securities
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Underlying index: | S&P MidCap 400 index
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Amount: | $1,844,000
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Maturity: | Dec. 29, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.5 times any index gain, capped at 30.5%; par if index falls by up to trigger level; otherwise, full exposure to any losses
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Initial level: | 1,467.90
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Trigger level: | 1,174.32, 80% of initial level
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Pricing date: | Dec. 26
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Settlement date: | Dec. 31
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Agents: | Citigroup Global Markets Inc., UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 17322X631
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