By Wendy Van Sickle
Columbus, Ohio, Nov. 7 – Citigroup Global Markets Holdings Inc. priced $6.52 million of bearish autocallable contingent coupon equity-linked securities due Oct. 31, 2024 linked to the performance of the S&P 500 index, 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 11.65% if the index’s closing level is less than or equal to the coupon barrier level, 115% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the index closes at or below its initial level on any monthly valuation date after three months.
If the notes are not called and the index’s final level is less than or equal to its final barrier level, 115% of initial level, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% that the index finishes above its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Bearish autocallable contingent coupon equity-linked securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $6.52 million
|
| Maturity: | Oct. 31, 2024
|
| Coupon: | 11.65% annually, payable monthly if index’s closing level is less than or equal to coupon barrier on the corresponding valuation date
|
| Price: | Par
|
| Payout at maturity: | If index’s final level is less than or equal to final barrier, par plus final coupon; otherwise, lose 1% for every 1% that the index finishes above initial level
|
| Call: | Automatically at par plus contingent coupon if index closes at or below initial level on any monthly valuation date after three months
|
| Initial level: | 4,117.37
|
| Coupon barrier: | 4,734.976; 115% of initial level
|
| Final barrier: | 4,734.976; 115% of initial level
|
| Pricing date: | Oct. 27
|
| Settlement date: | Nov. 1
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17291TD39
|
|
|
© 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.
