By William Gullotti
Buffalo, N.Y., Nov. 17 – Citigroup Global Markets Holdings Inc. priced $1.49 million of callable contingent coupon equity-linked securities due Aug. 7, 2025 linked to the performance of the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 10% if the ETF closes at or above its coupon barrier level, 70% of its initial level, on the related observation date.
The notes will be callable in whole, at the option of the issuer, at par plus any coupon due on any monthly valuation date after three months.
If the notes are not redeemed early, the payout will be par plus the final coupon if the ETF finishes at or above 70% of its initial level. Otherwise, investors will be fully exposed to the ETF’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying fund: | ARK Innovation ETF
|
| Amount: | $1,485,000
|
| Maturity: | Aug. 7, 2025
|
| Contingent coupon: | 10% per year, payable monthly if the fund closes at or above coupon barrier on related observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus coupon if the ETF finishes at or above final barrier, par plus final coupon; otherwise, investors lose 1% for every 1% decline from initial level
|
| Call option: | In whole at par plus any coupon due on any monthly valuation date after three months
|
| Initial level: | $120.22
|
| Coupon barrier level: | $84.154; 70% of initial level
|
| Final barrier level: | $84.154; 70% of initial level
|
| Pricing date: | Aug. 3
|
| Settlement date: | Aug. 6
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17329QHS2
|
|
|
© 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.
