By Susanna Moon
Chicago, Sept. 9 – Citigroup Inc. priced $12.65 million of 0% contingent absolute return autocallable optimization securities due Sept. 14, 2015 linked to Workday Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 11% if Workday stock closes at or above the initial share price on any quarterly observation date.
If the stock finishes at or above the trigger level, 70% of the initial share price, the payout at maturity will be par plus the absolute value of the return.
Otherwise, investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the underwriter, and UBS Financial Services Inc. is agent.
| Issuer: | Citigroup Inc.
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| Issue: | Contingent absolute return autocallable optimization securities
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| Underlying stock: | Workday Inc. (Symbol: WDAY)
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| Amount: | $1,264,500
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| Maturity: | Sept. 14, 2015
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| Coupon: | 0%
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| Price: | Par of $10.00
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| Payout at maturity: | If final share price is greater than or equal to trigger price, par plus absolute value of stock return; otherwise, full exposure to stock decline
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| Call: | At par plus 12.25% per year if Workday stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $90.07
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| Trigger price: | $63.05, or 70% of initial share price
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| Pricing date: | Sept. 5
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| Settlement date: | Sept. 10
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| Underwriter: | Citigroup Global Markets Inc. with UBS Financial Services Inc. as agent
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| Fees: | 1.5%
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| Cusip: | 17322H123
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