Published on 8/2/2013 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $10.17 million 12% autocallables on Hewlett-Packard
By Marisa Wong
Madison, Wis., Aug. 2 - Citigroup Inc. priced $10.17 million 12% annualized autocallable equity-linked securities due Aug. 5, 2014 tied to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be automatically redeemed at par plus interest if Hewlett-Packard shares close at or above the initial share price on Oct. 31, Jan. 31 or April 30, 2014.
If the notes are not called and the final share price is at least 75% of the initial share price, the payout at maturity will be par in cash. Otherwise, the payout will be a number of Hewlett-Packard shares equal to $10 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Inc.
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Issue: | Autocallable equity-linked securities
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Underlying stock: | Hewlett-Packard Co. (NYSE: HPQ)
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Amount: | $10,165,000
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Maturity: | Aug. 5, 2014
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Coupon: | 12% per year, payable quarterly
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Price: | Par
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Payout at maturity: | If final share price is at least downside threshold price, par in cash; otherwise, a number of Hewlett-Packard shares equal to $10 divided by initial share price or, at issuer's option, an equivalent amount in cash
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Call: | Automatically at par plus interest if Hewlett-Packard shares close at or above initial share price on Oct. 31, Jan. 31 or April 30, 2014
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Initial price: | $25.68
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Downside threshold: | $19.26, 75% of initial price
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Equity ratio: | 0.389408
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Pricing date: | July 31
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Settlement date: | Aug. 5
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Agent: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 173095241
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