By Marisa Wong
Madison, Wis., May 29 - Citigroup Inc. priced $6.75 million of 0% contingent absolute return autocallable optimization securities due June 5, 2015 linked to the common stock of GT Advanced Technologies Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 21.7% if GT Advanced stock closes at or above the initial share price on any quarterly observation date.
If the notes are not called and the final share price is greater than or equal to the trigger price, 55% of the initial share price, the payout at maturity will be par plus the absolute value of the stock return. Otherwise, investors will be fully exposed to the stock decline.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Inc.
|
| Issue: | Contingent absolute return autocallable optimization securities
|
| Underlying stock: | GT Advanced Technologies Inc. (Symbol: GTAT)
|
| Amount: | $6,754,500
|
| Maturity: | June 5, 2015
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
|
| Call: | At par plus 21.7% per year if GT Advanced stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $16.39
|
| Trigger price: | $9.01, or 55% of initial share price
|
| Pricing date: | May 28
|
| Settlement date: | May 30
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17322H610
|
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