By Toni Weeks
San Luis Obispo, Calif., July 29 – Citigroup Inc. priced $2.61 million of autocallable contingent coupon equity-linked securities due July 28, 2017 linked to Amazon.com, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 8.3% per year if Amazon.com stock closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Amazon.com shares close at or above the initial share price on any of the first 11 quarterly valuation dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 75% barrier level, in which case investors will receive a number of Amazon.com shares equal to $1,000 divided by the initial share price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Amazon.com, Inc. (Symbol: AMZN)
|
| Amount: | $2,611,000
|
| Maturity: | July 28, 2017
|
| Coupon: | 8.3% per year, payable quarterly if Amazon.com shares close at or above barrier price on quarterly review date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above barrier price, par plus contingent coupon; otherwise, 2.78816 Amazon.com shares
|
| Call: | At par plus contingent coupon if Amazon.com shares close at or above initial share price on any quarterly review date other than final review date
|
| Initial price: | $358.66
|
| Barrier price: | $268.995, 75% of initial price
|
| Pricing date: | July 25
|
| Settlement date: | July 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 1730T0V22
|
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