Published on 3/4/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $9.43 million trigger PLUS linked to S&P 500 index
By Toni Weeks
San Luis Obispo, Calif., March 4 – Citigroup Inc. priced $9.43 million of 0% trigger Performance Leveraged Upside Securities due March 2, 2018 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 33.75%. Investors will receive par if the index declines by 15% or less and will be fully exposed to the index’s decline from its initial level if it falls by more than 15%.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management will handle distribution.
Issuer: | Citigroup Inc.
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Issue: | Trigger Performance Leveraged Upside Securities
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Underlying index: | S&P 500
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Amount: | $9,429,900
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Maturity: | March 2, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 200% of any index gain, with return capped at 33.75%; if index falls by up 15%, par; otherwise, full exposure to index decline from initial level
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Initial level: | 2,104.5
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Trigger level: | 1,788.825, 85% of initial level
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Pricing date: | Feb. 27
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Settlement date: | March 4
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17323B208
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