By Wendy Van Sickle
Columbus, Ohio, April 25 – Citigroup Global Markets Holdings Inc. priced $1.64 million of autocallable contingent coupon equity-linked securities due July 21, 2023 linked to the stock performance of Bank of America Corp., 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 7.55% if the stock closes at or above the coupon barrier price, 65% 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 stock close at or above the initial share price on any monthly valuation date after six months.
If the notes are not called and the final share price is greater than or equal to the 55% final barrier price, the payout at maturity will be par plus the final coupon. Otherwise, investors will receive 25.74003 BofA shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | Bank of America Corp.
|
| Amount: | $1,639,000
|
| Maturity: | July 21, 2023
|
| Coupon: | 7.55% annually, payable monthly, if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and final share price is greater than or equal to final barrier price, par plus final coupon; otherwise, 25.74003 BofA shares
|
| Call: | Automatically at par plus contingent coupon if stock closes at or above initial level on any monthly valuation date after six months
|
| Initial share price: | $38.85
|
| Coupon barrier price: | $28.361; 73% of initial level
|
| Final barrier price: | $28.361; 73% of initial level
|
| Pricing date: | April 18
|
| Settlement date: | April 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17330DBQ8
|
|
|
© 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.
