By Marisa Wong
Madison, Wis., April 1 - Citigroup Inc. priced $4.58 million of autocallable contingent coupon equity-linked securities due April 2, 2015 linked to Facebook, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon of 3.75% if Facebook stock closes at or above the coupon barrier price, 70% 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 of the first three quarterly valuation dates.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 70% barrier level, in which case 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.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Facebook, Inc. (Nasdaq: FB)
|
| Amount: | $4.58 million
|
| Maturity: | April 2, 2015
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| Coupon: | 3.75% per quarter if Facebook stock closes at or above coupon barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless stock finishes below barrier level, in which case 16.66389 Facebook shares or, at issuer's option, cash equivalent
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any of first three quarterly valuation dates
|
| Initial price: | $60.01
|
| Barrier price: | $42.007, 70% of initial share price
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| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 1730T0L80
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