By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – Citigroup Global Markets Holdings Inc. priced $405,000 of autocallable contingent coupon equity-linked securities due Aug. 4, 2021 linked to the class A common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 7% if Alphabet stock closes at or above the coupon barrier level, 80% of the initial price, on the valuation date for that period.
The notes will be called at par of $5,000 plus the contingent coupon if Alphabet shares close at or above the initial share price on any quarterly valuation date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors receive a number of Alphabet shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
The notes are 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: | Alphabet Inc. (Nasdaq: GOOGL)
|
| Amount: | $405,000
|
| Maturity: | Aug. 4, 2021
|
| Coupon: | 7% per year, payable quarterly if Alphabet stock closes at or above barrier price on valuation date for that period
|
| Price: | Par of $5,000
|
| Payout at maturity: | If final share price is greater than or equal to barrier price, par plus contingent coupon; otherwise, 3.25019 Alphabet shares
|
| Call: | At par plus contingent coupon if Alphabet shares close at or above initial share price on any quarterly valuation date
|
| Initial share price: | $1,538.37
|
| Barrier price: | $1,230.696, 80% of initial share price
|
| Pricing date: | July 30
|
| Settlement date: | Aug. 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XT59
|
|
|
© 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.
