By Wendy Van Sickle
Columbus, Ohio, May 20 – Citigroup Global Markets Holdings Inc. priced $1.6 million of autocallable contingent coupon equity-linked securities due May 4, 2022 linked to the worst performing of the iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF Trust, 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 7% if each underlying fund closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period, plus any previously unpaid coupon.
The notes will be automatically called at par plus the coupon if each underlying fund closes at or above its initial level, on any quarterly valuation date.
If the notes are not called and each underlying fund finishes at or above final barrier level, 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the downside of the worst performer, payable in shares of the worse performer or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF Trust
|
| Amount: | $1,601,000
|
| Maturity: | May 4, 2022
|
| Coupon: | 7% annualized rate, payable quarterly if each underlying closes at or above coupon barrier level, on valuation date for that period, plus an previously unpaid coupon
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each underlying closes at or above final barrier; otherwise, investors will be fully exposed to the downside of the worst performer, payable either in shares or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each underlying closes at or above initial level on any quarterly valuation date
|
| Initial levels: | $227.99 for iShares Russell, $503.43 for S&P Trust
|
| Coupon barrier levels: | $182.392 for iShares Russell, $402.744 for S&P Trust; 80% of initial levels
|
| Final buffer levels: | $182.392 for iShares Russell, $402.744 for S&P Trust; 80% of initial levels
|
| Pricing date: | April 29
|
| Settlement date: | May 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NPR3
|
|
|
© 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.
