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Citigroup plans autocallable contingent coupon notes linked to Facebook
By Susanna Moon
Chicago, March 12 – Citigroup Inc. plans to price autocallable contingent coupon equity-linked securities due March 30, 2017 linked to class A common stock of Facebook, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8% to 8.5% if Facebook stock closes at or above the barrier level, 80% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Facebook shares close at or above the initial share price on any quarterly valuation date beginning Sept. 28, 2015.
If the stock finishes at or above the barrier level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will receive a number of Facebook shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
The notes will price on March 27 and settle on April 1.
The Cusip number is 1730T06J3.
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