By Wendy Van Sickle
Columbus, Ohio, June 26 – Citigroup Global Markets Holdings Inc. priced $4.15 million of autocallable contingent coupon equity-linked securities due June 23, 2022 linked to the common stock of Amazon.com Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if the stock closes at or above its coupon barrier value, 77% of its initial share price, on the valuation date for that period, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial share price on any quarterly valuation date.
If the final share price is greater than or equal to the 77% barrier level, the payout will be par. Otherwise, investors will receive a fixed number of Amazon.com shares equal to its equity ratio or, if the issuer prefers, the cash value of those shares.
The notes will be guaranteed by Citigroup Inc.
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: | $4,154,000
|
| Maturity: | June 23, 2022
|
| Coupon: | 8% per year, payable each quarter if stock closes at or above coupon barrier value on valuation date for that period, plus any previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par unless final share price is less than barrier level, in which case a fixed number of Amazon.com shares equal to its equity ratio or, if the issuer prefers, cash value of those shares
|
| Call: | Automatically at par plus coupon if stock closes at or above initial share price on any quarterly valuation date
|
| Initial share price: | $2,675.01
|
| Coupon barrier: | $2,059.758, 77% of initial share price
|
| Barrier value: | $2,059.758, 77% of initial share price
|
| Equity ratio: | 1.86915
|
| Pricing date: | June 19
|
| Settlement date: | June 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17324XZM5
|
|
|
© 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.
