By Susanna Moon
Chicago, April 17 - Citigroup Inc. priced $2.17 million of autocallable contingent coupon equity-linked securities due April 19, 2018 linked to the worse performing of Goldman Sachs Group, Inc. and Wells Fargo & Co. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each stock closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if each stock closes at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless either stock finishes below the 75% barrier level, in which case investors will receive a number of the worse performing company's 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 stocks: | Goldman Sachs Group, Inc. and Wells Fargo & Co.
|
| Amount: | $2,167,000
|
| Maturity: | April 19, 2018
|
| Coupon: | 8% annualized, payable quarter if each stock closes at or above coupon barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon unless either stock finishes below barrier level, in which case the worse performing of 6.36051 Goldman shares and 20.37075 Wells Fargo shares or, at issuer's option, cash equivalent
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date
|
| Initial levels: | $157.22 for Goldman, $49.09 for Wells Fargo
|
| Barrier levels: | $117.915 for Goldman, $36.818 for Wells Fargo; 75% of initial share price
|
| Pricing date: | April 16
|
| Settlement date: | April 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 1730T0P29
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