By Angela McDaniels
Tacoma, Wash., Aug. 28 - Citigroup Inc. priced $1.24 million of autocallable contingent coupon equity-linked securities due Sept. 3, 2014 linked to the common stock of LinkedIn Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 10% if LinkedIn stock closes at or above the downside threshold price, 70% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if LinkedIn shares close at or above the initial share price on any of the first three quarterly valuation dates.
If the final share price is greater than or equal to the downside threshold price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of LinkedIn 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 stock: | LinkedIn Corp. (NYSE: LNKD)
|
| Amount: | $1,243,000
|
| Maturity: | Sept. 3, 2014
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| Coupon: | 10% per year payable quarterly if LinkedIn stock closes at or above downside threshold price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if final share price is greater than or equal to downside threshold price; otherwise, 4.12558 LinkedIn shares or, at issuer's option, cash amount equal to value of those shares
|
| Call: | Automatically at par plus contingent coupon if LinkedIn shares close at or above initial share price on any of first three quarterly valuation dates
|
| Initial share price: | $242.39
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| Downside threshold: | $169.673, 70% of initial share price
|
| Pricing date: | Aug. 26
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| Settlement date: | Aug. 29
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| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 1730T0UQ0
|
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