By Toni Weeks
San Luis Obispo, Calif., June 27 – Citigroup Inc. priced $6 million of autocallable securities due June 28, 2018 linked to the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a 12% redemption premium if each underlying component closes at or above its initial level on any of five semiannual valuation dates.
If the notes are not called and the return of the least-performing component is zero or positive, the payout at maturity will be par plus that component’s return.
If the return of the least-performing component is negative but that component finishes at or above the 75% trigger level, the payout will be par. Otherwise, investors will share in the decline of the least-performing component.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying components: | Euro Stoxx 50 and iShares MSCI Emerging Markets ETF
|
| Amount: | $6 million
|
| Maturity: | June 28, 2018
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If return of least-performing component is zero or positive, par plus that component’s return; if return of least-performing component is negative but that component finishes at or above 75% trigger level, par; otherwise full exposure to decline of least-performing component
|
| Call: | At par plus 12% per year if each component closes at or above its initial level on any of five semiannual valuation dates
|
| Initial levels: | 3,252.31 for Euro Stoxx, $43.20 for iShares MSCI EM
|
| Trigger levels: | 2,439.23 for Euro Stoxx, $32.40 for iShares MSCI EM, 75% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.1%
|
| Cusip: | 1730T0T82
|
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