By Susanna Moon
Chicago, April 17 - Citigroup Inc. priced $2.17 million of autocallable contingent coupon equity-linked securities due April 22, 2019 linked to General Electric Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.4% if General Electric stock closes at or above the coupon barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if General Electric shares close at or above the initial share price on any quarterly valuation date beginning April 16, 2015.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will receive a number of General Electric shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | General Electric Co. (NYSE: GE)
|
| Amount: | $2,167,000
|
| Maturity: | April 22, 2019
|
| Coupon: | 7.4% annualized, payable quarter if General Electric stock closes at or above coupon barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below barrier level, in which case 38.28484 General Electric shares or, at issuer's option, cash equivalent
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date beginning April 16, 2015
|
| Initial price: | $26.12
|
| Barrier price: | $20.89, 80% of initial share price
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 1730T0N88
|
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