Published on 12/17/2013 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.84 million buffer securities linked to SP 500
By Angela McDaniels
Tacoma, Wash., Dec. 17 - Citigroup Inc. priced $2.84 million of 0% buffer securities due Sept. 21, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the final index level is greater than the initial index level, the payout at maturity will be par plus 150% of the index return, subject to a maximum return of 15.15%. If the index declines by 10% or less, the payout will be par. Otherwise, investors will lose 1% for every 1% that the index declines beyond 10%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Inc.
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Issue: | Buffer securities
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Underlying index: | S&P 500
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Amount: | $2,836,000
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Maturity: | Sept. 21, 2015
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If final index level is greater than initial index level, par plus 150% of index return, subject to 15.15% maximum return; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial index level: | 1,786.54
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Pricing date: | Dec. 16
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Settlement date: | Dec. 19
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 0.625%
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Cusip: | 1730T0E54
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