By Wendy Van Sickle
Columbus, Ohio, Sept. 29 – Citigroup Global Markets Holdings Inc. priced $2.37 million of callable contingent coupon equity-linked securities due Sept. 20, 2023 linked to the shares of Dow 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 annualized rate of 12% if the stock closes at or above the coupon barrier price, 75% of the initial price, on the valuation date for that period.
The notes are callable at par plus any coupon due on any quarterly call valuation date.
If the notes are not called, the payout at maturity will be par unless the shares finish below the 75% barrier level, in which case investors will receive a number of shares of equal to $1,000 divided by the stock’s initial share price or the cash equivalent at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying stock: | Dow Inc.
|
| Amount: | $2,369,000
|
| Maturity: | Sept. 20, 2023
|
| Coupon: | 12% per year, payable quarterly if closing price of shares is greater than or equal to coupon barrier price on valuation date for that period
|
| Price: | Par of $10,000
|
| Payout at maturity: | Par plus final coupon unless shares finish below barrier level, in which case 16.6113 shares or cash equivalent at the issuer’s option
|
| Call: | At par plus any coupon due on any quarterly call valuation date
|
| Initial share price: | $60.20
|
| Coupon barrier price: | $45.15, 75% of initial share price
|
| Barrier level: | $45.15, 75% of initial share price
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17328NK49
|
|
|
© 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.
