Cygnus X-2 appears to be the descendant of an intermediate-mass X-ray binar
y (IMXB). Using Mazzitelli's stellar code we compute detailed evolutionary
sequences for the system and find that its prehistory is sensitive to stell
ar input parameters, in particular the amount of core overshooting during t
he main-sequence phase. With standard assumptions for convective overshooti
ng a case B mass transfer starting with a 3.5-M. donor star is the most lik
ely evolutionary solution for Cygnus X-2. This makes the currently observed
state rather short-lived, of order 3 Myr, and requires a formation rate >
10(-7)-10(-6) yr(-1) of such systems in the Galaxy. Our calculations show t
hat neutron star IMXBs with initially more massive donors (greater than or
similar to 4 M.) encounter a delayed dynamical instability; they are unlike
ly to survive this rapid mass transfer phase. We determine limits for the a
ge and initial parameters of Cygnus X-2 and calculate possible dynamical or
bits of the system in a realistic Galactic potential, given its observed ra
dial velocity. We find trajectories which are consistent with a progenitor
binary on a circular orbit in the Galactic plane inside the solar circle th
at received a kick velocity less than or equal to 200 km s(-1) at the birth
of the neutron star. The simulations suggest that about 7 per cent of IMXB
s receiving an arbitrary kick velocity from a standard kick velocity spectr
um would end up in an orbit similar to Cygnus X-2, while about 10 per cent
of them reach yet larger Galactocentric distances.