By Marisa Wong
Madison, Wis., April 6 – Citigroup Inc. priced $2.37 million of 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% 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.
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.
Issuer: | Citigroup Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying stock: | Facebook, Inc. (Symbol: FB)
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Amount: | $2.37 million
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Maturity: | March 30, 2017
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Coupon: | 8% per year, payable quarterly if closing price of Facebook shares is greater than or equal to barrier price on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par in cash unless Facebook shares finish below barrier price, in which case 12.00480 Facebook shares
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Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any of first three quarterly valuation dates
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Initial share price: | $83.30
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Barrier price: | $66.64, 80% of initial share price
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Pricing date: | March 27
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Settlement date: | April 1
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1.5%
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Cusip: | 1730T06J3
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