Published on 9/28/2015 in the Prospect News Structured Products Daily.
New Issue: Citi prices $1.28 million 13% single observation ELKS linked to Netflix
By Susanna Moon
Chicago, Sept. 28 – Citigroup Inc. priced $1.28 million of 13% single observation Equity LinKed Securities due Oct. 3, 2016 linked to Netflix, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The payout at maturity will be par unless the stock finishes below the trigger level, 70% of the initial share price, in which case the payout will be a number of Netflix shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
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| Issue: | Equity LinKed Securities
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| Underlying stock: | Netflix, Inc. (Nasdaq: NFLX)
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| Amount: | $1,281,000
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| Maturity: | Oct. 3, 2016
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| Coupon: | 13%, payable monthly
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| Price: | Par
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| Payout at maturity: | If stock falls below trigger level, 9.63763 Netflix shares; otherwise, par
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| Initial level: | $103.76
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| Trigger level: | 70% of initial level
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| Pricing date: | Sept. 24
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| Settlement date: | Sept. 29
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17298C2D9
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