By Marisa Wong
Madison, Wis., Oct. 24 – Citigroup Inc. priced $2 million variable-coupon notes due Oct. 25, 2021 linked to a basket of stocks, according a 424B2 filing with the Securities and Exchange Commission.
The basket includes equal weights of SunEdison, Inc., Adobe Systems Inc., Delphi Automotive plc, International Business Machines Corp., Honeywell International Inc., 3D Systems Corp., Google Inc., salesforce.com, inc., Bunge Ltd. and Applied Materials, Inc.
The reference stocks are issued by companies that derive a substantial (but varying) portion of their revenues from the technology and manufacturing sectors, according to the prospectus.
The notes will pay a coupon each year equal to the greater of (a) the sum of the weighted stock performances on the applicable coupon observation date and (b) zero.
If a stock’s return is greater than or equal to zero, its performance will be 10.8%. Otherwise, its performance will be the greater of the stock return and negative 30%.
The payout at maturity will be par plus the final coupon payment, if any.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Variable-coupon notes
|
| Underlying stock: | SunEdison, Inc., Adobe Systems Inc., Delphi Automotive plc, International Business Machines Corp., Honeywell International Inc., 3D Systems Corp., Google Inc., salesforce.com, inc., Bunge Ltd. and Applied Materials, Inc., equally weighted
|
| Amount: | $2 million
|
| Maturity: | Oct. 25, 2021
|
| Coupon: | Sum of weighted stock performances on applicable coupon observation date; coupon is payable annually and cannot be less than zero
|
| Stock performance: | If stock’s return is greater than or equal to zero, 10.8%; otherwise, greater of stock return and negative 30%
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon payment, if any
|
| Pricing date: | Oct. 21
|
| Settlement date: | Oct. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 1730T02R9
|
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