By Toni Weeks
San Luis Obispo, Calif., Dec. 23 - Citigroup Inc. priced $12.92 million of autocallable equity-linked securities due Dec. 29, 2014 tied to common units representing limited partnership interests of Blackstone Group LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will carry a coupon of 2.6625% per quarter. Interest will be payable quarterly.
The notes will be automatically redeemed at par of $10 plus interest if Blackstone units close at or above the initial price on March 20, June 20, 2014 or Sept. 22, 2014.
If the notes are not called and the final price is at least 75% of the initial price, the payout at maturity will be par. Otherwise, the payout will be a number of Blackstone shares equal to $10 divided by the initial 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 units: | Blackstone Group LP (NYSE: BX)
|
|
|
| Amount: | $12.92 million
|
|
|
| Maturity: | Dec. 29, 2014
|
|
|
| Coupon: | 2.6625% per quarter
|
|
|
| Price: | Par
|
|
|
| Payout at maturity: | Par if final price is at least 75% of initial price; otherwise, 0.33069 Blackstone shares or, at issuer's option, equivalent amount in cash
|
|
|
| Call: | At par plus interest if Blackstone units close at or above initial price on March 20, June 20, 2014 or Sept. 22, 2014
|
|
|
| Initial price: | $30.24
|
|
|
| Downside threshold: | $22.68, 75% of initial price
|
|
|
| Pricing date: | Dec. 20
|
|
|
| Settlement date: | Dec. 30
|
|
|
| Agent: | Citigroup Global Markets Inc.
|
|
|
| Fees: | 1.5%
|
|
|
| Cusip: | 17321F391
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
