Published on 9/1/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.67 million trigger return optimization securities linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Sept. 1 – Citigroup Inc. priced $2.67 million of 0% trigger return optimization securities due Aug. 31, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 1.5 times the index return, subject to a maximum return of 33.25%. If the index return is zero or negative and the final index level is greater than or equal to the trigger level, 75% of the initial index level, the payout will be par. If the final index level is less than the trigger level, investors will have full exposure to the index’s decline.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Inc.
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Issue: | Trigger return optimization securities
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Underlying index: | S&P 500
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Amount: | $2,671,920
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Maturity: | Aug. 31, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index return is positive, par plus 1.5 times index return, subject to maximum return of 33.25%; if index return is zero or negative and final index level is greater than or equal to trigger level, par; if final index level is less than trigger level, full exposure to index’s decline
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Initial index level: | 1,940.51
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Trigger level: | 1,455.38, 75% of initial level
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 2.5%
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Cusip: | 17323Q759
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