Published on 3/27/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.8 million trigger PLUS linked to S&P MidCap 400
By Angela McDaniels
Tacoma, Wash., March 27 – Citigroup Inc. priced $2.8 million of 0% trigger Performance Leveraged Upside Securities due March 29, 2017 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is positive, the payout at maturity will be par of $10 plus 200% of the index return, subject to a maximum return of 19%. Investors will receive par if the index declines by 10% or less and will be fully exposed to the index’s decline from its initial level if it falls by more than 10%.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a dealer.
| Issuer: | Citigroup Inc.
|
| Issue: | Trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P MidCap 400
|
| Amount: | $2,801,550
|
| Maturity: | March 29, 2017
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index return is positive, par plus 200% of index return, subject to 19% maximum return; par if final index level is less than or equal to initial level but greater than trigger level; full exposure to index’s decline from initial level if final level is less than trigger level
|
| Initial index level: | 1,530.79
|
| Trigger level: | 1,377.711, 90% of the initial price
|
| Pricing date: | March 24
|
| Settlement date: | March 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 17323B596
|
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