By Angela McDaniels
Tacoma, Wash., May 18 – Citigroup Inc. priced $1.6 million of autocallable contingent coupon equity-linked securities due May 19, 2016 linked to the common stock of Antero Resources Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 12% if Antero stock closes at or above the barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if Antero shares close at or above the initial share price on any quarterly valuation date other than the final one.
If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of Antero shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Antero Resources Corp. (NYSE: AR)
|
| Amount: | $1.6 million
|
| Maturity: | May 19, 2016
|
| Coupon: | 12% per year, payable quarterly if Antero stock closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, 23.86635 Antero shares or, at issuer's option, amount in cash equal to value of those shares
|
| Call: | Automatically at par plus contingent coupon if Antero shares close at or above initial share price on any quarterly valuation date other than final one
|
| Initial share price: | $41.90
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| Barrier price: | $29.33, 70% of initial share price
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| Pricing date: | May 14
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| Settlement date: | May 19
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.7%
|
| Cusip: | 17298CBA5
|
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