Published on 11/27/2013 in the Prospect News Structured Products Daily.
New Issue: Citi sells $350,000 three-year autocallables linked to S&P 500, Russell
By Susanna Moon
Chicago, Nov. 27 - Citigroup Inc. priced $350,000 autocallable securities due Nov. 29, 2016 linked to the worst performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par plus a premium of 10.2% if each index closes at or above the initial level on the valuation date.
If the notes have not been called, the payout at maturity will be par unless the index finishes below the 80% trigger level, in which case investors will be fully exposed to losses of the worst performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500 index and the Russell 2000 index
|
| Amount: | $350,000
|
| Maturity: | Nov. 29, 2016
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If indexes finish at or above barrier level, par; otherwise, full exposure to losses of worst performing index
|
| Call: | At par plus 10.2% if either index closes at or above initial level on valuation date
|
| Initial level: | 1,802.48 for S&P, 1,124.73 for Russell
|
| Trigger level: | 1,441.98 for S&P, 899.78 for Russell; 80% of initial level
|
| Pricing date: | Nov. 25
|
| Settlement date: | Nov. 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 1730T0D63
|
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