By Susanna Moon
Chicago, May 17 - Citigroup Inc. priced $4 million of callable barrier dual range accrual securities due April 29, 2028 linked to Libor and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest rate will accrue at 7.7% for each day that Libor is less than or equal to 6% and the index closes at or above the accrual barrier level, which is 70% of the initial index level. Interest is payable quarterly.
The payout at maturity will be par unless the index finishes at or below the 60% final barrier level, in which case investors will share fully in losses.
The notes will be callable at par on any interest payment date after two years.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Callable barrier dual range accrual securities
|
| Amount: | $4 million
|
| Maturity: | May 21, 2022
|
| Coupon: | 7.7% for each day that Libor is 6% or less and index closes at or above accrual barrier level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless index finishes at or below final barrier level, in which case investors share fully in losses
|
| Call option: | At par on any interest payment date beginning May 21, 2015
|
| Initial index level: | 985.34
|
| Accrual barrier level: | 689.738, 70% of initial level
|
| Final barrier level: | 591.204, 60% of initial level
|
| Pricing date: | May 16
|
| Settlement date: | May 21
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1.8%
|
| Cusip: | 1730T0TL3
|
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