Citigroup changes maturity of enhanced buffered jump notes tied to Dow

By Angela McDaniels

Tacoma, Wash., Sept. 30 - Citigroup Funding Inc. changed the maturity date of its upcoming 0% enhanced buffered jump securities linked to the Dow Jones industrial average to Oct. 28, 2016, according to an FWP filing with the Securities and Exchange Commission.

The maturity date was previously expected to be March 28, 2016.

If the final index level is greater than the buffer level, which is 85% of the initial level, the payout at maturity will be par of $10 plus the greater of the upside payment and the index return. The upside payment is expected to be 37% to 42% and will be set at pricing.

Investors will lose 1% for every 1% that the index declines beyond the buffer level.

The notes (Cusip: 17317U576) will price and settle in October.

Citigroup Global Markets Inc. is the underwriter.

© 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.