Published on 1/30/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $566,000 autocallables tied to worst of FTSE, Russell
New York, Jan. 30 – Citigroup Inc. priced $566,000 of 0% autocallable securities due Feb. 1, 2018 linked to the worst performing of the FTSE 100 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 11.9% if each underlying component closes at or above its call level on any annual call date. The call level will be equal to the initial level on Jan. 27, 2016, 95% of the initial level on Jan. 27, 2017 and 90% of the initial level on Jan. 29, 2018.
If the worst performing component finishes at or above its call level, the payout at maturity will be par plus 35.7%.
If the worst performing component falls by 20% or less, the payout will be par.
Otherwise, investors will be fully exposed to any losses of the worst performing component.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable securities
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| Underlyings: | FTSE 100 index and Russell 2000 index
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| Amount: | $566,000
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| Maturity: | Feb. 1, 2018
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing component finishes at or above its call level, par plus 35.7%; if worst performing component falls by 20% or less, par; otherwise, full exposure to any losses of the worst performing component
|
| Call: | At par plus premium of 11.9% if each underlying component closes at or above call level, which will be equal to the initial level on Jan. 27, 2016, 95% of the initial level on Jan. 27, 2017 and 90% of the initial level on Jan. 29, 2018
|
| Initial levels: | 6,811.61 for FTSE and 1,194.658 for Russell
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| Trigger levels: | 5,449.288 for FTSE and 955.726 for Russell, 80% of initial level
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| Pricing date: | Jan. 27
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| Settlement date: | Jan. 30
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2.25%
|
| Cusip: | 1730T03X5
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