Published on 8/5/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.86 million trigger PLUS linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., Aug. 5 – Citigroup Inc. priced $2.86 million of 0% trigger Performance Leveraged Upside Securities due Aug. 5, 2020 linked to the iShares MSCI 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 147% of the ETF return. Investors will receive par if the ETF declines by 15% or less and will be fully exposed to the ETF’s decline from its initial level if it falls by more than 15%.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Inc.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying ETF: | iShares MSCI Emerging Markets
|
| Amount: | $2,860,780
|
| Maturity: | Aug. 5, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If ETF return is positive, par plus 147% of ETF return; par if final share price is less than or equal to initial share price but greater than trigger level; full exposure to ETF’s decline from initial share price if final share price is less than trigger level
|
| Initial share price: | $37.12
|
| Trigger level: | $33.408, 90% of initial price
|
| Pricing date: | July 31
|
| Settlement date: | Aug. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3%
|
| Cusip: | 17323Q841
|
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