Published on 5/31/2012 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.62 million buffered digital notes tied to S&P 500
By Toni Weeks
San Diego, May 31 - Citigroup Funding Inc. priced $2.62 million of 0% buffered digital notes due June 2, 2014 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 or equal to the initial level, the payout at maturity will be par plus the 12% upside payment. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% decline in the index beyond the 20% buffer.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
|
Issue: | Buffered digital notes
|
Underlying index: | S&P 500
|
Amount: | $2.62 million
|
Maturity: | June 2, 2014
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If index return is zero or positive, par plus 12%; par if index falls by up to 20%; 1% loss for every 1% decline beyond 20%
|
Initial level: | 1,332.42
|
Pricing date: | May 29
|
Settlement date: | May 31
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2.45%, used for selling concessions
|
Cusip: | 1730T0XL8
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.