Published on 11/30/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.16 million enhanced barrier digital plus notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Nov. 30 – Citigroup Inc. priced $4.16 million of 0% enhanced barrier digital plus securities due Nov. 27, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the barrier level, 80% of the initial index level, the payout at maturity will be par plus the greater of the index return and 20%. Otherwise, investors will be fully exposed to the index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Enhanced barrier digital plus securities
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Underlying index: | S&P 500
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Amount: | $4,155,000
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Maturity: | Nov. 27, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than or equal to barrier level, par plus greater of index return and 20%; otherwise, full exposure to index’s decline from initial level
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Initial level: | 2,086.59
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Barrier level: | 1,669.272, 80% of initial level
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Pricing date: | Nov. 23
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Settlement date: | Nov. 27
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 3%
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Cusip: | 17298C3T3
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