By Susanna Moon
Chicago, Nov. 20 - Citigroup Inc. priced $2.08 million of 7.78% airbag autocallable yield optimization notes due Nov. 20, 2014 linked to Continental Resources Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if Continental Resources 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 Continental Resources shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the underwriters.
| Issuer: | Citigroup Inc.
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Continental Resources Inc. (NYSE: CLR)
|
| Amount: | $2,081,000
|
| Maturity: | Nov. 20, 2014
|
| Coupon: | 7.78%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final share price is less than conversion price, number of Continental Resources shares equal to $1,000 divided by conversion price; otherwise, par
|
| Call: | At par if Continental Resources shares close at or above initial share price on any quarterly call date
|
| Initial share price: | $116.45
|
| Conversion price: | $93.16, 80% of initial share price
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 20
|
| Underwriters: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17321F573
|
© 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.
