By Kiku Steinfeld
Chicago, June 14 – Citigroup Global Markets Holdings Inc. priced $618,000 of autocallable contingent coupon equity-linked securities due May 22, 2025 linked to the worst performing of the shares of the SPDR Gold Trust and the iShares Silver 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 monthly coupon at an annualized rate of 5.6% if each fund closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the shares of each fund close at or above the initial share price on any quarterly call valuation date starting Feb. 18, 2022.
If the notes are not called, the payout at maturity will be par unless the shares of the worst performer finish below the 70% barrier level, in which case investors will lose 1% for each 1% decline of the worst performing ETF from its initial level.
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: | SPDR Gold Trust and iShares Silver Trust
|
| Amount: | $618,000
|
| Maturity: | May 22, 2025
|
| Coupon: | 5.6% per year, payable monthly if closing price of shares of both funds is greater than or equal to coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless shares of worst performer finish below barrier level, in which case 1% loss for each 1% decline of the worst performer
|
| Call: | At par plus contingent coupon if closing share price of worst performer is greater than or equal to initial share price on any quarterly call valuation date starting Feb. 18, 2022
|
| Initial share prices: | $26.15 for silver and $175.04 for gold
|
| Coupon barrier prices: | $18.305 for silver and $122.528 for gold, 70% of initial share price
|
| Barrier levels: | $18.305 for silver and $122.528 for gold, 70% of initial share price
|
| Pricing date: | May 18
|
| Settlement date: | May 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329FDM3
|
|
|
© 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.
