Published on 7/6/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $4.01 million trigger return optimization notes on S&P MidCap 400
By Marisa Wong
Madison, Wis., July 6 – Citigroup Inc. priced $4.01 million of 0% trigger return optimization securities due June 29, 2018 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index gain, up to a maximum return of 33%.
If the index falls by up to the trigger level, 80% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the underwriters.
Issuer: | Citigroup Inc.
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Issue: | Trigger return optimization securities
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Underlying index: | S&P MidCap 400
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Amount: | $4,007,300
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Maturity: | June 29, 2018
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 150% of any index gain, capped at 33%; par if index falls by up to 20%; full exposure to any losses if index finishes below trigger level
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Initial index level: | 1,530.41
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Trigger level: | 1,224.33, 80% of initial price
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Pricing date: | June 25
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Settlement date: | June 30
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Underwriters: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
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Fees: | 2.5%
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Cusip: | 17323Q106
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