By Jennifer Chiou
San Luis Obispo, Calif., Feb. 23 – Citigroup Inc. priced $3.21 million of autocallable contingent coupon equity-linked securities due Feb. 24, 2017 linked to Halliburton Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.25% if Halliburton stock closes at or above the barrier level, 80% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Halliburton shares close at or above the initial share price on any of the first seven quarterly valuation dates.
If the notes are not called and the final share price is greater than or equal to the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will receive a number of Halliburton 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: | Halliburton Co. (Symbol: HAL)
|
| Amount: | $3,213,000
|
| Maturity: | Feb. 24, 2017
|
| Coupon: | 8.25% per year, payable quarterly if closing price of Halliburton shares is greater than or equal to barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Halliburton shares finish below barrier price, in which case 22.60398 Halliburton shares
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any of first seven quarterly valuation dates
|
| Initial share price: | $44.24
|
| Barrier price: | $35.392, 80% of initial share price
|
| Pricing date: | Feb. 19
|
| Settlement date: | Feb. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 1730T04P1
|
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