By Wendy Van Sickle
Columbus, Ohio, March 21 – Citigroup Global Markets Holdings Inc. priced $66.41 million of 0% equity-linked notes due March 22, 2028 linked to the common stock of Halliburton Co., according to 424B2 filings with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The payout at maturity will be the greater of par and the alternative settlement amount. The alternative settlement amount is par times the final share price divided by the threshold price, 132.3% of the initial price.
The final share price will be determined with an adjustment factor based on the dividends paid on Halliburton stock. The note assumes a base dividend of $0.16 per share, however if the stock does not pay $0.16 per share the final share price will be subject to adjustment, multiplied by a factor of 1 and based on the actual quarterly dividends paid during the life of the notes. For clarity, investors will not receive any dividends.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Halliburton Co.
|
| Amount: | $66,412,500
|
| Maturity: | March 22, 2028
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Greater of (i) par and (ii) par times the final share price divided by the threshold price
|
| Initial price: | $30.4139
|
| Threshold price: | $40.2376, 132.3% of initial price
|
| Pricing date: | March 15
|
| Settlement date: | March 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | None
|
| Cusip: | 17331H5G7
|
|
|
© 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.
