Published on 7/30/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $6.02 million trigger return optimization notes on S&P MidCap 400
By Tali Rackner
Norfolk, Va., July 30 – Citigroup Inc. priced $6.02 million of 0% trigger return optimization securities due July 31, 2018 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain, up to a maximum return of 35%.
If the index falls by up to the trigger level, 80% 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: | S&P MidCap 400
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| Amount: | $6,019,500
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| Maturity: | July 31, 2018
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 150% of any index gain, capped at 35%; par if index falls by up to 20%; full exposure to any losses if index finishes below trigger level
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| Initial index level: | 1,479.83
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| Trigger level: | 1,183.86, 80% of initial price
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| Pricing date: | July 28
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| Settlement date: | July 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: | 17323Q882
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