By Kiku Steinfeld
Chicago, Aug. 26 – Citigroup Global Markets Holdings Inc. priced $1.38 million of autocallable contingent coupon equity-linked securities due Aug. 26, 2021 linked to the common stock of Alphabet Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annualized rate of 7.5% if Alphabet stock closes at or above the barrier price, 75% of the initial price, on the valuation date for that period.
The notes will be automatically called at par of $5,000 plus the contingent coupon if Alphabet shares close at or above the initial share price on any valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the shares finish below the 75% final barrier level, in which case investors will receive a number of shares equal to the principal divided by the initial share price or the cash equivalent.
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.
|
| Amount: | $1,375,000
|
| Maturity: | Aug. 26, 2021
|
| Coupon: | 7.5% per year, payable quarterly if closing price of Alphabet shares is greater than or equal to barrier price on valuation date for that period
|
| Price: | Par of $5,000
|
| Payout at maturity: | Par plus final coupon unless shares finish below final barrier level, in which case, number of shares equal to principal divided by initial share price or cash equivalent
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any valuation date
|
| Initial share price: | $1,575.57
|
| Barrier price: | $1,181.678, 75% of initial share price
|
| Equity ratio: | 3.17345
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XV56
|
|
|
© 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.
