Published on 11/26/2014 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $9.32 million contingent return optimization notes tied to S&P 500
By Jennifer Chiou
New York, Nov. 26 – Citigroup Inc. priced $9,323,780 of 0% contingent return optimization securities due Nov. 30, 2017 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the trigger level, 80% of the initial index level, the payout at maturity will be par of $10 plus the greater of the 8% contingent return and any gain, up to a maximum return of 36.81%.
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: | S&P 500
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Amount: | $9,323,780
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Maturity: | Nov. 30, 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 8% and any gain, capped at 36.81%; otherwise, full exposure to any losses
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Initial level: | 2,069.41
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Trigger level: | 1,655.53, 80% of initial price
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Pricing date: | Nov. 24
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Settlement date: | Nov. 28
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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: | 17322X789
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