By Kiku Steinfeld
Chicago, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $2.05 million autocallable contingent coupon equity-linked securities due Aug. 25, 2021 tied to Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a quarterly contingent coupon at an annualized rate of 8% if the stock closes above 80% of its initial level on a relevant valuation date.
The notes will automatically be called at par of $5,000 plus the coupon if the stock finishes above its initial value on any quarterly valuation date other than the final one.
If the notes are not called, the payout at maturity will be par plus the coupon if the stock finishes above its 80% final barrier value.
Otherwise, investors will receive 2.32223 shares of Amazon stock, or the cash value of those shares, should the issuer prefer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Amazon.com, Inc.
|
| Amount: | $2,045,000
|
| Maturity: | Aug. 25, 2021
|
| Coupon: | 7% annual rate, payable quarterly if stock finishes above 80% coupon barrier on relevant valuation date
|
| Price: | Par of $5,000
|
| Payout at maturity: | Par plus coupon if stock finishes above 80% final barrier value, otherwise full exposure to losses of stock, payable either in 2.32223 shares of stock or cash value of those shares at issuer’s option
|
| Call: | Automatically at par plus coupon if stock closes above initial level on any quarterly valuation date other than final one
|
| Initial level: | $2,153.10
|
| Coupon barrier: | $1,722.480, 80% of initial level
|
| Final barrier: | $1,722.480, 80% of initial level
|
| Pricing date: | Feb. 20
|
| Settlement date: | Feb. 25
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.625%
|
| Cusip: | 17324XWD8
|
|
|
|
|
© 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.
