By Wendy Van Sickle
Columbus, Ohio, Jan. 8 – Citigroup Global Markets Holdings Inc. priced $1.35 million of autocallable contingent coupon equity-linked securities due Dec. 28, 2023 linked to the ETF of ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon plus any previously unpaid coupons at an annual rate of 11.5% if the ETF closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that month.
The notes will be automatically called at par plus the coupon and any previously unpaid coupons if the ETF closes at or above its initial price on any quarterly call valuation date after six months.
If the notes are not called and the ETF finishes at or above final barrier price, 55% of its initial level, the payout at maturity will be par plus the final coupon and any previously unpaid coupons. Otherwise, investors will receive a number of share of ETF equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETF: | ARK Innovation ETF
|
| Amount: | $1,345,000
|
| Maturity: | Dec. 28, 2023
|
| Coupon: | 11.5% annualized rate, payable monthly plus any previously unpaid coupons if ETF closes at or above coupon barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if ETF closes at or above final barrier price; otherwise, number of shares equal to par divided by initial share price or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par plus coupon if ETF closes at or above initial level on any quarterly call valuation date after six months
|
| Initial level: | $135.05
|
| Coupon barrier price: | $101.288, 75% of initial levels
|
| Barrier price: | $74.278, 55% of initial levels
|
| Equity ratio: | 7.40466
|
| Pricing date: | Dec. 22
|
| Settlement date: | Dec. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NBZ0
|
|
|
© 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.
