Published on 2/29/2012 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $43.08 million dual directional trigger PLUS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Feb. 29 - Citigroup Funding Inc. priced $43.08 million of 0% dual directional trigger Performance Leveraged Upside Securities due Feb. 27, 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 index level, the payout at maturity will be par of $10 plus 150% of the index return, subject to a maximum return of 23%.
If the final index level is less than the initial index level but greater than or equal to the trigger value, 80% of the initial index level, the payout will be par plus the absolute value of the index return.
If the final index level is less than the trigger value, investors will be fully exposed to the decline from the initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Smith Barney LLC is handling distribution.
| Issuer: | Citigroup Funding Inc.
|
| Issue: | Dual directional trigger Performance Leveraged Upside Securities
|
| Underlying index: | S&P 500
|
| Amount: | $43,081,000
|
| Maturity: | Feb. 27, 2014
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If final index level is greater than or equal to initial index level, par plus 150% of index return, up to maximum return of 23%; if final index level is less than initial index level but greater than or equal to trigger value, par plus absolute value of index return; if final index level is less than trigger value, full exposure to decline from initial level
|
| Initial index level: | 1,372.18
|
| Trigger value: | 1,097.74, 80% of initial level
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17317U238
|
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