By Kiku Steinfeld
Chicago, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $2.22 million of callable contingent coupon notes due Feb. 12, 2024 linked to the SPDR S&P 500 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent semiannual coupon at an annualized rate of 5% if the fund closes at or above its coupon barrier level, 65% of the initial value, on any related observation date.
The notes will be callable at par on any observation date other than the final one.
If the notes are not called and the fund finishes at or above its 60% final barrier level, the payout at maturity will be par. Otherwise, investors will receive a fixed number of shares of the ETF equal to its equity ratio or cash value.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Callable contingent coupon equity notes
|
Underlying fund: | SPDR S&P 500 ETF
|
Amount: | $2,215,000
|
Maturity: | Feb. 12, 2024
|
Contingent coupon: | 5% per year, payable semiannually if fund closes at or above coupon barrier on any related observation date
|
Price: | Par
|
Payout at maturity: | If fund finishes at or above final barrier value, par; otherwise, a fixed number of shares of ETF equal to its equity ratio or cash value
|
Call option: | At par on any observation date other than final one
|
Initial values: | $381.55
|
Coupon barrier: | $248.008, 65% of initial level
|
Final barrier value: | $228.93, 60% of initial level
|
Equity ratio: | 2.62089
|
Pricing date: | Feb. 3
|
Settlement date: | Feb. 10
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2.05%
|
Cusip: | 17328NCG1
|
|
© 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.