By Susanna Moon
Chicago, April 24 – Citigroup Inc. priced $2.8 million of autocallable contingent coupon equity-linked securities due April 26, 2018 linked to the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7.25% if the fund 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 the shares close at or above the initial share price on any of first 11 quarterly valuation dates.
If the fund finishes at or above the barrier level, the payout at maturity 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 underwriter.
| Issuer: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon equity-linked securities
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| Underlying fund: | SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $2,804,000
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| Maturity: | April 26, 2018
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| Coupon: | 7.25% per year, payable quarterly if fund closes at or above barrier level on valuation date for that quarter
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| Price: | Par
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| Payout at maturity: | Par in cash unless shares finish below barrier price, in which case 18.88931 shares
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| Call: | At par plus contingent coupon if fund closes at or above initial share price on any of first 11 quarterly valuation dates
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| Initial level: | $52.94
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| Barrier level: | $39.705, 75% of initial share price
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| Pricing date: | April 21
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| Settlement date: | April 24
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 2%
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| Cusip: | 1730T06Z7
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