By Susanna Moon
Chicago, Oct. 27 – Citigroup Inc. priced $2.49 million of autocallable contingent coupon equity-linked securities due Oct. 27, 2016 linked to SINA Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if SINA shares close at or above the barrier price, 65% of the initial share price, on the observation date for that quarter.
The notes will be called at par if the shares close at or above the initial share price on any of the first seven quarterly valuation dates.
If the stock finishes at or above the 65% barrier level, the payout will be par plus the contingent coupon.
Otherwise, investors will receive a number of 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 agent.
| Issuer: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying shares: | SINA Corp. (Nasdaq: SINA)
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| Amount: | $2,491,000
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| Maturity: | Oct. 27, 2016
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| Coupon: | 9% annualized if SINA shares close at or above barrier price on observation date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above barrier level, par; otherwise, 24.86944 shares
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| Call: | At par if shares close at or above initial share price on any of the first seven quarterly valuation dates
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| Initial share price: | $40.21
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| Barrier price: | $26.137, 65% of initial share price
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| Pricing date: | Oct. 23
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| Settlement date: | Oct. 28
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| Agent: | Citigroup Global Markets Inc.
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| Fees: | 1.75%
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| Cusip: | 1730T02C2
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