By Sarah Lizee
Olympia, Wash., Feb. 24 – Citigroup Global Markets Holdings Inc. priced $1 million of buffered autocallable securities due Feb. 20, 2025 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index closes at or above the call level on any quarterly observation date after one year, the notes will be redeemed at par plus a premium of 8.5% per year. The call level will be 100% of the initial level on the first call date, stepping up by 1.25% each quarter.
If the notes are not called and the index finishes at or above its initial level, the payout at maturity will be par plus 42.5%.
Investors will receive par if the index falls by up to 25% and will lose 1.33% for each 1% decline beyond the buffer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Buffered autocallable securities
|
| Underlying index: | Russell 2000 index
|
| Amount: | $1 million
|
| Maturity: | Feb. 20, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above initial level, par plus 42.5%; par if the index falls by up to buffer; 1.33% loss for each 1% decline beyond the buffer
|
| Call: | If the index closes at or above the call level on any quarterly observation date after one year, at par plus a premium of 8.5% per year; call level will be 100% of the initial level on the first call date, stepping up by 1.25% each quarter
|
| Initial level: | 1,687.584
|
| Buffer level: | 1,265.688, 75% of initial level
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17327T2A3
|
|
|
© 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.
