By Wendy Van Sickle
Columbus, Ohio, April 7 – Citigroup Global Markets Holdings Inc. priced $3.56 million of autocallable contingent coupon equity-linked securities due March 28, 2022 linked to the stock of Apple 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 annual rate of 9% if the stock closes at or above the coupon barrier price, 77% of the initial price, on the valuation date for that period, plus any unpaid coupon.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called and the stock finishes at or above final barrier price, 77% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive a number of shares 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 stock: | Apple Inc.
|
| Amount: | $3,555,000
|
| Maturity: | March 28, 2022
|
| Coupon: | 9% annualized rate, payable quarterly if stock closes at or above coupon barrier price on valuation date for that period, plus any unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if stock 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 stock closes at or above initial level on any quarterly valuation date
|
| Initial level: | $122.54
|
| Coupon barrier price: | $94.356, 77% of initial level
|
| Barrier price: | $94.356, 77% of initial level
|
| Equity ratio: | 8.1606
|
| Pricing date: | March 23
|
| Settlement date: | March 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NKU1
|
|
|
|
|
© 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.
