By Toni Weeks
San Luis Obispo, Calif., Dec. 10 - Citigroup Inc. priced $2.56 million of 9.8% airbag autocallable yield optimization notes due Dec. 11, 2014 linked to the common stock of Cobalt International Energy, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called automatically at par if Cobalt shares close at or above the initial share price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the conversion price, in which case the payout will be a number of Cobalt shares equal to $1,000 divided by the conversion price. The conversion price is 80% of the initial share price.
UBS Financial Services Inc. and Citigroup Global Markets Inc. are the underwriters.
| Issuer: | Citigroup Inc.
|
| Issue: | Airbag autocallable yield optimization notes
|
| Underlying stock: | Cobalt International Energy, Inc. (Symbol: CIE)
|
| Amount: | $2,559,000
|
| Maturity: | Dec. 11, 2014
|
| Coupon: | 9.8%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If final price is less than conversion price, 72.9395 Cobalt shares; otherwise, par
|
| Call: | At par if Cobalt shares close at or above initial share price on any quarterly observation date
|
| Initial price: | $17.14
|
| Conversion price: | $13.71, 80% of initial price
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 11
|
| Underwriters: | UBS Financial Services Inc. and Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 17321F466
|
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