By Toni Weeks
San Luis Obispo, Calif., Oct. 29 - Citigroup Inc. priced $813,000 of autocallable contingent coupon equity-linked securities due Nov. 3, 2014 linked to Hewlett-Packard Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if Hewlett-Packard stock closes at or above the 75% barrier level on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above the initial price on any of the first three quarterly valuation dates.
If the stock finishes at or above the 75% barrier level, the payout at maturity will be par plus the last coupon.
Otherwise, investors will receive a number of Hewlett-Packard shares equal to $1,000 divided by the initial share price or, at the issuer's option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying shares: | Hewlett-Packard Co. (Symbol: HPQ)
|
| Amount: | $813,000
|
| Maturity: | Nov. 3, 2014
|
| Coupon: | 2.25% (equivalent to 9% per year) payable quarterly if Hewlett-Packard shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Hewlett-Packard shares finish below barrier price, in which case 41.66667 Hewlett-Packard shares or, at the issuer's option, an amount in cash equal to the value of those shares
|
| Call: | Automatically at par plus contingent coupon if Hewlett-Packard shares close at or above initial share price on Jan. 27, 2014, April 25, 2014 or July 25, 2014
|
| Initial share price: | $24.00
|
| Barrier price: | $18.00, 75% of initial share price
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 1730T0A33
|
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