Published on 12/31/2014 in the Prospect News Structured Products Daily.
New Issue: Citi prices $542,400 trigger return optimization notes on Euro Stoxx 50
By Susanna Moon
Chicago, Dec. 31 – Citigroup Inc. priced $542,400 of 0% trigger return optimization securities due Dec. 29, 2017 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 63%.
If the index falls by up to the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the underwriters.
Issuer: | Citigroup Inc.
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Issue: | Trigger return optimization securities
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Underlying index: | Euro Stoxx 50
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Amount: | $542,400
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Maturity: | Dec. 29, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 200% of any index gain, capped at 63%; par if index falls by up to 25%; full exposure to any losses if index finishes below trigger level
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Initial index level: | 3,185.17
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Trigger level: | 2,388.88, 75% of initial price
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Pricing date: | Dec. 29
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Settlement date: | Dec. 31
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Underwriters: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17322X649
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