By Susanna Moon
Chicago, Sept. 4 - Citigroup Inc. priced $8.5 million of 9.4% autocallable equity-linked securities due Sept. 4, 2014 tied to Las Vegas Sands Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be called at par plus interest if Las Vegas Sands shares close at or above the initial share price on any quarterly call 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 in cash.
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.
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Issue: | Autocallable equity-linked securities
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Underlying stock: | Las Vegas Sands Corp. (NYSE: LVS)
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Amount: | $8.5 million
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Maturity: | Sept. 4, 2014
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Coupon: | 9.4%, payable quarterly
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Price: | Par
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Payout at maturity: | Par unless stock falls below trigger level, in which case 0.17746 Las Vegas Sands shares
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Call: | At par plus contingent coupon if the stock closes at or above initial share price on any quarterly call date
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Initial share price: | $56.35
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Trigger level: | $45.08, 80% of initial share price
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Pricing date: | Aug. 30
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Settlement date: | Sept. 5
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 173095118
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