Published on 10/14/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup sells $1 million upturn securities on basket of energy stocks
By Marisa Wong
Morgantown, W.Va., Oct. 14 – Citigroup Inc. priced $1 million of 0% upturn securities due Oct. 12, 2017 linked to a basket of 10 equally weighted stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket is comprised of the common stocks of Anadarko Petroleum Corp., ConocoPhillips, Valero Energy Corp., EOG Resources, Inc., Phillips 66, Southwestern Energy Co., Occidental Petroleum Corp., Pioneer Natural Resources Co., Range Resources Corp. and Whiting Petroleum Corp.
If the final basket level is greater than the initial level, the payout at maturity will be par plus double the return, capped at 43%.
Investors will be fully exposed to any decline in the basket.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
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| Issue: | Upturn securities
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| Underlying stocks: | Anadarko Petroleum Corp., ConocoPhillips, Valero Energy Corp., EOG Resources, Inc., Phillips 66, Southwestern Energy Co., Occidental Petroleum Corp., Pioneer Natural Resources Co., Range Resources Corp. and Whiting Petroleum Corp.; equally weighted
|
| Amount: | $1 million
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| Maturity: | Oct. 12, 2017
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If basket gains, par plus 200% of the return, capped at 43%; full exposure to losses
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| Initial prices: | $72.33 for Anadarko, $56.28 for ConocoPhillips, $65.71 for Valero, $87.04 for EOG, $84.58 for Phillips 66, $13.59 for Southwester, $74.07 for Occidental, $138.53 for Pioneer, $37.41 for Range, $22.20 for Whiting
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| Pricing date: | Oct. 8
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| Settlement date: | Oct. 14
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17298C2Y3
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