By Marisa Wong
Morgantown, W.Va., Dec. 1 – Citigroup Inc. priced $1.15 million of 0% barrier digital securities due Nov. 24, 2017 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 initial level, the payout at maturity will be par plus the fixed return amount of 16.25%.
If the final index level is less than the initial level but greater than or equal to the barrier level, 80% of the initial level, the payout will be par.
If the index finishes below the barrier level, investors will be fully exposed to the index’s decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
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| Issue: | Barrier digital securities
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| Underlying index: | S&P 500
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| Amount: | $1.15 million
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| Maturity: | Nov. 24, 2017
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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 initial level, par plus 16.25%; if final index level is less than initial level but greater than or equal to barrier level, par; if index finishes below barrier level, full exposure to index’s decline
|
| Initial index level: | 2,089.17
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| Barrier level: | 1,671.336, 80% of initial level
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17298C4M7
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