Published on 3/30/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $8.55 million barrier digital plus securities on Euro Stoxx 50
By Jennifer Chiou
New York, March 30 – Citigroup Inc. priced $8,546,000 of 0% barrier digital plus securities due March 31, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the initial level, the payout at maturity will be par plus the greater of the index return and the fixed return amount of 37%.
If the final index level is less than the initial level but greater than or equal to the barrier level, 75% of the initial level, the payout will be par.
If the index finishes below the barrier level, investors will be fully exposed to the index’s decline.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Barrier digital plus securities
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Underlying index: | Euro Stoxx 50
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Amount: | $8,546,000
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Maturity: | March 31, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to initial level, par plus greater of index return and 37%; if final index level is less than initial level but greater than or equal to barrier level, par; if index finishes below barrier level, investors will be fully exposed to index’s decline
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Initial index level: | 3,669.79
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Barrier level: | 2,752.343, 75% of initial level
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Pricing date: | March 26
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Settlement date: | March 31
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 1730T06E4
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