By Susanna Moon
Chicago, Jan. 5 – Citigroup Inc. priced $2 million of 0% buffer securities due June 26, 2019 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If each index finishes at or above 95% of its initial level, the payout at maturity will be par plus the maximum return of 23.2%.
If each index finishes between 71% and 95% of its initial level, the payout at maturity will be par plus 0.9667 times the amount by which the return of the worse performing index exceeds 71% of its initial level.
Otherwise, investors will lose 1.4085% for each 1% decline of the worse performing index beyond the buffer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Buffer securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $2 million
|
| Maturity: | June 26, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 95% threshold level, par plus the maximum return of 23.2%; if each index finishes between 71% and 95% of its initial level, par plus 0.9667 times the amount by which the return of the worse performing index exceeds 71% of its initial level; otherwise, 1.4085% loss per 1% drop of worse performing index beyond buffer
|
| Initial levels: | 2,063.36 S&P and 1,149.643 for Russell
|
| Trigger levels: | 71% of initial levels
|
| Pricing date: | Dec. 30
|
| Settlement date: | Jan. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17298C5V6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
