By Toni Weeks
San Luis Obispo, Calif., Dec. 24 – Citigroup Inc. priced $3 million of 0% trigger jump securities due March 23, 2017 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If the fund finishes at or above its initial level, the payout at maturity will equal par plus the upside payment of 38.5%.
Investors will receive par if the stock falls by up to 25% and will be fully exposed to any losses if the stock finishes below the 75% trigger level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Trigger jump securities
|
| Underlying ETF: | SPDR Oil & Gas Exploration & Production ETF
|
| Amount: | $3 million
|
| Maturity: | March 23, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If fund return is zero or positive, par plus 38.5%; if fund falls by up to 25%, par; full exposure to losses if stock finishes below trigger price
|
| Initial price: | $49.91
|
| Trigger price: | $37.433, 75% of initial price
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17322X334
|
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