By Kiku Steinfeld
Chicago, Oct. 28 – Citigroup Global Markets Holdings Inc. priced $4.08 million of contingent income callable securities due Oct. 19, 2023 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent quarterly coupon at an annual rate of 6.4% if the index closes at or above its coupon barrier level, 75% of its initial index level, on the relevant observation date.
The notes are callable at par on any quarterly contingent coupon payment date.
If the notes have not been called, the payout at maturity will be par unless the index finishes below its 75% downside threshold level. In that case, investors will lose 1% for every 1% decline of the index from its initial level.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income callable securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,076,000
|
| Maturity: | Oct. 19, 2023
|
| Coupon: | 6.4% per year, payable quarterly if the index closes at or above coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless the index finishes below its downside threshold level; otherwise, investors will lose 1% for every 1% decline from initial level
|
| Call option: | At par on any quarterly contingent coupon payment date
|
| Initial levels: | 4,471.37
|
| Coupon barriers: | 3,353.528, 75% of initial levels
|
| Downside thresholds: | 3,353.528, 75% of initial levels
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 20
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 1.5%
|
| Cusip: | 17329UJ36
|
|
|
© 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.
