Published on 3/18/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $3.92 million autocallable contingent coupon notes on Russell 2000
By Marisa Wong
Madison, Wis., March 18 – Citigroup Inc. priced $3.92 million autocallable contingent coupon equity-linked securities due March 19, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the 70% barrier level on a semiannual valuation date, the notes will pay a coupon at an annualized rate of 5.1% for that period. Otherwise, no coupon will be paid that period.
If the index closes at or above the initial level on any valuation date beginning March 16, 2017, other than the final valuation date, the notes will be called at par plus the coupon.
If the notes have not been called and the index finishes at or above the barrier level, the payout at maturity will be par plus the coupon. Otherwise, investors will be fully exposed to losses.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying index: | Russell 2000
|
| Amount: | $3,922,000
|
| Maturity: | March 19, 2020
|
| Coupon: | 5.1%, payable semiannually, if index closes at or above 70% barrier level on semiannual valuation date; otherwise, no coupon paid for that period
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above barrier level, par plus coupon; otherwise, full exposure to losses
|
| Call: | At par plus contingent coupon if index closes at or above initial level on any valuation date beginning March 16, 2017, other than final valuation date
|
| Initial level: | 1,239.777
|
| Coupon barrier level: | 867.844, 70% of initial level
|
| Pricing date: | March 16
|
| Settlement date: | March 19
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 1730T05N5
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
