By William Gullotti
Buffalo, N.Y., Aug. 1 – Citigroup Global Markets Holdings Inc. priced $2.8 million of 0% enhanced barrier digital plus securities due July 30, 2027 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the final share price is greater than or equal to the final barrier value, 80% of the initial share price, the payout at maturity will be par plus the greater of the ETF return and 17%.
If the final share price is less than the final barrier value, the payout will be a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Enhanced barrier digital plus securities
|
| Underlying fund: | SPDR S&P 500 ETF Trust
|
| Amount: | $2,798,000
|
| Maturity: | July 30, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to final barrier value, par plus greater of 17% and ETF return; if final share price is less than final barrier value, 2.49352 shares per $1,000 principal amount of notes or, at issuer’s option, amount in cash equal to value of those shares
|
| Initial share price: | $401.04
|
| Final barrier value: | $320.832; 80% of initial share price
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17330DFL5
|
|
|
© 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.
