By Jennifer Chiou
New York, June 4 - Citigroup Inc. priced $1,475,000 of autocallable contingent coupon equity-linked securities due Dec. 8, 2014 linked to the common stock of Coach, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a coupon at the rate of 9% per year if the closing price of Coach shares is greater than or equal to the downside threshold price, 80% of the initial share price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the closing price of the underlying shares on any of the first five quarterly valuation dates is greater than or equal to the initial share price.
If the notes are not automatically called, the payout at maturity will be par plus the contingent coupon if the final share price is greater than or equal to the downside threshold price. If the final share price is less than the downside threshold price, investors will receive a number of Coach shares equal to $1,000 divided by the initial share price or, at the issuer's option, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Coach, Inc. (Symbol: COH)
|
| Amount: | $1,475,000
|
| Maturity: | Dec. 8, 2014
|
| Coupon: | 9% per year, payable quarterly if closing price of Coach shares is greater than or equal to downside threshold price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par in cash unless Coach shares finish below downside threshold price, in which case 17.13209 shares of Coach stock or equivalent amount in cash
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any of first five quarterly valuation dates
|
| Initial share price: | $58.37
|
| Downside threshold: | $46.696, 80% of initial share price
|
| Pricing date: | May 30
|
| Settlement date: | June 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 1730T0TC3
|
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