New York, March 9 – Citigroup Global Markets Holdings Inc. priced $9.28 million of contingent income callable securities due March 6, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8%, paid quarterly, if the underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly determination date.
If the index finishes at or above its 70% downside threshold, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the index declines from initial level.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
Issuer: | Citigroup Global Markets Holdings Inc.
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Guarantor: | Citigroup Inc.
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Issue: | Contingent income callable securities
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Underlying index: | S&P 500 index
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Amount: | $9,277,000
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Maturity: | March 6, 2025
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Coupon: | 8%, paid quarterly, if the underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that index declines from initial level
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Call option: | At par on any quarterly determination date
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Initial level: | 4,045.64
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Downside threshold: | 2,831.948, 70% of initial level
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Coupon barrier: | 2,831.948, 70% of initial level
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Pricing date: | March 3
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Settlement date: | March 8
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Agent: | Citigroup Global Markets Inc.
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Dealer: | Morgan Stanley Wealth Management
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Fees: | 2% including a structuring fee of 0.5%
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Cusip: | 17331CWG8
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