By Susanna Moon
Chicago, Feb. 4 - Citigroup Inc. priced $2.39 million of autocallable contingent coupon equity-linked securities due Feb. 5, 2016 linked to Apple Inc. 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 8% if Apple stock closes at or above the 80% 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 seven quarterly valuation dates.
If the stock finishes at or above the 80% barrier level, the payout at maturity will be par plus the last coupon.
Otherwise, investors will receive a number of Apple 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: | Apple Inc. (Symbol: AAPL)
|
| Amount: | $2,394,000
|
| Maturity: | Feb. 5, 2016
|
| Coupon: | 8%, payable quarterly if Apple shares close at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless Apple shares finish below barrier price, in which case 1.9976 Apple shares or, at the issuer's option, an amount in cash equal to the value of those shares
|
| Call: | At par plus contingent coupon if Apple shares close at or above initial share price on any of first seven quarterly valuation dates
|
| Initial share price: | $500.60
|
| Barrier price: | $400.48, 80% of initial share price
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 1730T0F20
|
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