By Jennifer Chiou
New York, March 31 – Citigroup Inc. priced $3,804,000 of 6.3% airbag autocallable yield optimization notes due March 31, 2016 linked to the Charles Schwab Corp. shares, according to a 424B2 with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if Schwab shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Schwab shares equal to $1,000 divided by the conversion price. The conversion price is 90% of the initial share price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
Issuer: | Citigroup Inc.
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Issue: | Airbag autocallable yield optimization notes
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Underlying stock: | Charles Schwab Corp. (Symbol: SCHW)
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Amount: | $3,804,000
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Maturity: | March 31, 2016
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Coupon: | 6.3%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, Schwab shares equal to $1,000 divided by the conversion price; otherwise, par
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Call: | At par if Schwab shares close at or above initial share price on any quarterly observation date
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Initial share price: | $30.23
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Conversion price: | $27.21, 90% of initial share price
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Pricing date: | March 27
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Settlement date: | March 31
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Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 17323B562
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