Published on 7/23/2013 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $836,000 6.4% airbag autocallables linked to Ameriprise
By Jennifer Chiou
New York, July 23 - Citigroup Inc. priced $836,000 of 6.4% airbag autocallable yield optimization notes due July 25, 2014 linked to the common stock of Ameriprise Financial, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called automatically at par if Ameriprise 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 Ameriprise shares equal to $1,000 divided by the conversion price. The conversion price is 85% 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: | Ameriprise Financial, Inc. (Symbol: AMP)
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Amount: | $836,000
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Maturity: | July 25, 2014
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Coupon: | 6.4%, payable monthly
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Price: | Par
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Payout at maturity: | If final share price is less than conversion price, number of Ameriprise shares equal to $1,000 divided by conversion price; otherwise, par
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Call: | Automatically at par if Ameriprise shares close at or above initial share price on any quarterly observation date
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Initial share price: | $86.31
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Conversion price: | $73.36, 85% of initial share price
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Pricing date: | July 19
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Settlement date: | July 24
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Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
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Fees: | 1.5%
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Cusip: | 173095274
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