Published on 9/17/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.06 million variable coupon notes linked to 10 stocks
By Angela McDaniels
Tacoma, Wash., Sept. 17 – Citigroup Inc. priced $2.06 million of variable coupon notes due Sept. 19, 2022 linked to an equally weighted basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket includes the common stocks of Alcoa Inc., Apple Inc., Baidu, Inc., Best Buy Co., Inc., Biogen Inc., Concho Resources Inc., Delphi Automotive plc, Endo International plc, Newmont Mining Corp. and Halliburton Co.
The notes pay a coupon each year equal to the sum of the basket stocks' weighted performances, subject to a minimum rate of 1%.
If a basket stock's return is zero or positive, its performance will be 8.6%. If a basket stock's return is negative, its performance will be the greater of its return and negative 30%.
The payout at maturity will be par plus the final coupon.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Variable coupon notes
|
| Underlying stocks: | Alcoa Inc., Apple Inc., Baidu, Inc., Best Buy Co., Inc., Biogen Inc., Concho Resources Inc., Delphi Automotive plc, Endo International plc, Newmont Mining Corp. and Halliburton Co., equally weighted
|
| Amount: | $2.06 million
|
| Maturity: | Sept. 19, 2022
|
| Coupon: | Notes pay coupon each year equal to sum of basket stocks' weighted performances, subject to minimum rate of 1%
|
| Performance: | If basket stock's return is zero or positive, 8.6%; if basket stock's return is negative, greater of its return and negative 30%
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 18
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17298C2F4
|
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