By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – Citigroup Global Markets Holdings Inc. priced $20 million of contingent income autocallable securities due Dec. 12, 2022 linked to Invesco QQQ Trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 13.5% if the fund closes at or above the 85% downside threshold on the corresponding determination date.
The notes will be called at par plus the contingent coupon if the fund closes at or above its initial level on any monthly determination date.
The payout at maturity will be par plus the final coupon unless the fund finishes below its 85% downside threshold, in which case investors will lose 1% for each 1% decline of the fund from its initial share price.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is a selected dealer.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Contingent income autocallable securities
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Underlying fund: | Invesco QQQ Trust, series 1
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Amount: | $20 million
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Maturity: | Dec. 12, 2022
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Coupon: | 13.5% annualized, payable monthly if fund closes at or above downside threshold level on the corresponding determination date
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Price: | Par of $10
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Payout at maturity: | If fund finishes at or above downside threshold, par plus final coupon; otherwise, full exposure to decline from initial share price
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Call: | At par plus contingent coupon if fund closes at or above initial level on any monthly determination date
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Initial share price: | $386.20
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Downside threshold: | $328.27; 85% of initial level
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Pricing date: | Dec. 7
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Settlement date: | Dec. 10
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Underwriter: | Citigroup Global Markets Inc. with Morgan Stanley Wealth Management as dealer
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Fees: | 0.2%
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Cusip: | 17328NL63
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