New Issue: Citigroup sells $15.4 million trigger step performance notes on S&P 500

By Marisa Wong

Madison, Wis., June 29 – Citigroup Inc. priced $15.4 million of 0% trigger step performance securities due June 28, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is zero or positive, the payout at maturity will be par of $10 plus the greater of the 25.1% step return and the index return.

Investors will receive par if the index falls by up to 25% and will be fully exposed to losses from the initial level if it falls more than 25%.

Citigroup Global Markets Inc. is the underwriter. UBS Financial Services Inc. is the agent.

Issuer:	Citigroup Inc.
Issue:	Trigger step performance securities
Underlying index:	S&P 500
Amount:	$15,404,000
Maturity:	June 28, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is zero or positive, par plus greater of index return and 25.1%; par if index falls by 25% or less; full exposure to losses if index falls more than 25%
Initial level:	2,102.31
Trigger level:	1,576.73, 75% of initial level
Pricing date:	June 25
Settlement date:	June 30
Underwriter:	Citigroup Global Markets Inc.
Agent:	UBS Financial Services Inc.
Fees:	3%
Cusip:	17323Q403

© 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.