Published on 10/2/2012 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $7.79 million trigger jump securities linked to gold
By Toni Weeks
San Diego, Oct. 2 - Citigroup Funding Inc. priced $7.79 million of 0% trigger jump securities due Sept. 29, 2014 linked to the price of gold, according to a 424B2 filing with the Securities and Exchange Commission.
If the final gold price is greater than the initial gold price, the payout at maturity will be par plus the greater of the 15% fixed return amount and the gold return, subject to a maximum return of 30%.
Investors will receive par if the final gold falls by up to 10% and will be fully exposed to the decline from the initial price if it falls by more than 10%.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Funding Inc.
|
Issue: | Trigger jump securities
|
Underlying commodity: | Gold
|
Amount: | $7,791,000
|
Maturity: | Sept. 29, 2014
|
Coupon: | 0%
|
Price: | Par
|
Payout at maturity: | If gold return is positive, par plus greater of gold return and $150; par if gold price falls by up to 10%; full exposure to losses from initial price if it falls more than 10%
|
Initial price: | $1,776.00
|
Trigger price: | $1,598.40, 90% of initial price
|
Pricing date: | Sept. 28
|
Settlement date: | Oct. 3
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2.25%
|
Cusip: | 1730T0YY9
|
© 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.