By Jennifer Chiou
New York, June 4 - Citigroup Inc. priced $5.82 million of 11.5% autocallable equity-linked securities due June 5, 2014 tied to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable quarterly.
The notes will be automatically redeemed at par of $10 plus interest if Facebook shares close at or above the initial share price on Sept. 3, 2013, Dec. 3, 2013 or March 3, 2014.
If the notes are not called and the final share price is at least 80% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be a number of Facebook shares equal to $10 divided by the initial share price or, at the issuer's option, an equivalent amount in cash.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable equity-linked securities
|
| Underlying stock: | Facebook, Inc. (Symbol: FB)
|
| Amount: | $5.82 million
|
| Maturity: | June 5, 2014
|
| Coupon: | 11.5%, payable quarterly
|
| Price: | Par of $10
|
| Payout at maturity: | Par in cash unless Facebook shares finish below 80% of the initial price, in which case 0.410678 shares of Facebook stock
|
| Initial price: | $24.35
|
| Downside threshold price: | $19.48, 80% of $24.35
|
| Exchange ratio: | 0.410678
|
| Pricing date: | May 31
|
| Settlement date: | June 5
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.5%
|
| Cusip: | 173095480
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
