Published on 7/31/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $418,950 trigger performance notes linked to Vanguard FTSE Emerging Markets
By Angela McDaniels
Tacoma, Wash., July 31 – Citigroup Inc. priced $418,950 of 0% trigger performance securities due July 31, 2020 linked to the Vanguard FTSE Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the ETF return is positive, the payout at maturity will be par of $10 plus 136.5% of the ETF return. Investors will receive par if the ETF falls by up to 25% and will be fully exposed to losses from the initial share price if it falls by more than 25%.
Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as agent.
Issuer: | Citigroup Inc.
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Issue: | Trigger performance securities
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Underlying ETF: | Vanguard FTSE Emerging Markets
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Amount: | $418,950
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Maturity: | July 31, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If ETF | return is positive, par plus 136.5% of ETF return; par if ETF falls by up to 25%; full exposure to losses from initial share price if ETF falls by more than 25%
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Initial share price: | $37.89
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Trigger level: | $28.42, 75% of initial share price
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Pricing date: | July 28
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Settlement date: | July 31
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Underwriter: | Citigroup Global Markets Inc.
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Agent: | UBS Financial Services Inc.
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Fees: | 0.5%
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Cusip: | 17323Q866
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