Published on 8/28/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.57 million contingent return optimization notes tied to Russell 2000
By Susanna Moon
Chicago, Aug. 28 – Citigroup Inc. priced $10.57 million of 0% contingent return optimization securities due Aug. 31, 2017 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the trigger level, 75% of the initial index level, the payout at maturity will be par of $10 plus the greater of the 6% contingent return and any gain up to a maximum return of 39.17%.
Otherwise, investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the underwriter with UBS Financial Services Inc. as dealer.
Issuer: | Citigroup Inc.
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Issue: | Contingent return optimization securities
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Underlying index: | Russell 2000
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Amount: | $10,569,150
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Maturity: | Aug. 31, 2017
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If index finishes at or above trigger level, par plus greater of 6% and any gain capped at 39.17%; otherwise, full exposure to any losses
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Initial level: | 1,175.17
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Trigger level: | 881.378, 75% of initial price
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Pricing date: | Aug. 26
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Settlement date: | Aug. 29
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Underwriter: | Citigroup Global Markets Inc. with UBS Financial Services Inc. as dealer
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Fees: | 2.5%
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Cusip: | 17322H362
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