Chicago, Aug. 10 – Citigroup Global Markets Holdings Inc. priced $10 million of contingent income autocallable securities due Aug. 1, 2024 linked to the common stock of Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.95%, paid monthly, if the underlying stock closes at or above its 85% downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting Aug. 28 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date.
At maturity the payout will be par unless the stock declines by more than its 15% buffer in which case investors will lose 117.647% of the decline beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management helped structure the notes.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | Microsoft Corp.
|
| Amount: | $10 million
|
| Maturity: | Aug. 1, 2024
|
| Coupon: | 14.95% annual rate, paid monthly, if the underlying stock closes at or above its 85% downside threshold on the related monthly observation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par unless the stock declines by more than its buffer in which case investors will lose 117.647% of the decline beyond the buffer
|
| Call: | Automatically starting Aug. 28 at par if the price of the underlying stock is greater than or equal to its initial price and on any subsequent monthly review date
|
| Initial level: | $350.98
|
| Buffer level: | $298.333, 85% of initial level
|
| Buffer: | 15%
|
| Downside leverage: | 117.647%
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Agents: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as structurer
|
| Fees: | 0.1%
|
| Cusip: | 17291RUE0
|
|
|
© 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.
