By Toni Weeks
San Luis Obispo, Calif., Dec. 17 - Citigroup Inc. priced $3.68 million of autocallable equity-linked securities due Dec. 18, 2014 tied to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a coupon of 2.375% per quarter.
The notes will be redeemed at par of $10 plus interest if Las Vegas Sands shares close at or above the initial share price on any quarterly date.
If the notes are not called and the final share price is at least 80% of the initial share price, the payout at maturity will be par.
Otherwise, the payout will be a number of Las Vegas Sands 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.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stock: | Las Vegas Sands Corp. (NYSE: LVS)
|
| Amount: | $3.68 million
|
| Maturity: | Dec. 18, 2014
|
| Coupon: | 2.375% per quarter
|
| Price: | Par
|
| Payout at maturity: | Par if final share price is at least 80% of initial price; otherwise, 0.1306 Las Vegas Sands shares or, at issuer's option, equivalent amount in cash
|
| Call: | At par plus interest if Las Vegas Sands shares close at or above initial share price on March 13, June 13 or Sept. 15, 2014
|
| Initial price: | $76.57
|
| Downside threshold: | $61.256, 80% of initial price
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 18
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17321F433
|
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