By Kiku Steinfeld
Chicago, May 12 – Citigroup Global Markets Holdings Inc. priced $554,000 of autocallable contingent coupon equity linked securities due April 26, 2024 linked to Etsy, Inc., Amazon.com, Inc. and Pinterest, Inc. shares, 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 at an annualized rate of 12.1% if each stock closes at or above the barrier price, 55% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly redemption date.
If the notes are not called and the final share price of each stock is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the share price of the least performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Etsy, Inc., Amazon.com, Inc. and Pinterest, Inc.
|
| Amount: | $554,000
|
| Maturity: | April 26, 2024
|
| Coupon: | 12.1% per year, payable monthly if closing price of each stock is greater than or equal to barrier price on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier price, in which case full exposure
|
|
|
| Call: | At par plus contingent coupon if closing share price of each stock is greater than or equal to initial share price on any quarterly redemption date
|
| Initial share prices: | $214.59 for Etsy, $3,340.88 for Amazon and $74.99 for Pinterest
|
| Barrier prices: | $118.025 for Etsy, $1,837.484 for Amazon and $41.245 for Pinterest; 55% of initial share prices
|
| Pricing date: | April 23
|
| Settlement date: | April 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329FFG4
|
|
|
© 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.
