Published on 4/8/2016 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $3.65 million 8% single observation ELKS tied to Facebook
By Tali Rackner
Norfolk, Va., April 8 – Citigroup Inc. priced $3.65 million of 8% single observation Equity LinKed Securities due April 3, 2017 linked to the class A common stock of Facebook, Inc., 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 80% trigger level, in which case the payout will be a number of Facebook 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: | Single observation Equity LinKed Securities
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| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
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| Amount: | $3,652,000
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| Maturity: | April 3, 2017
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| Coupon: | 8%, payable monthly
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| Price: | Par of $1,000
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| Payout at maturity: | Par unless stock finishes below downside threshold price, in which case 8.6103 Facebook shares or, at issuer’s option, an equivalent amount in cash
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| Initial share price: | $116.14
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| Downside threshold: | 92.912, 80% of initial price
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| Pricing date: | March 29
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| Settlement date: | April 1
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17298CC48
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