By Angela McDaniels
Tacoma, Wash., July 18 – Citigroup Inc. priced $5.7 million of callable dual range accrual notes due July 21, 2029 linked to Libor and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 6.35% for the first year. After the first year, the interest rate will be 6.35% per year multiplied by the proportion of days on which Libor is 4.5% or less and the index's closing level is greater than or equal to 80% of the initial index level. Interest is payable quarterly.
The payout at maturity will be par.
Beginning July 21, 2015, the notes will be callable at par on any interest payment date.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Inc.
|
| Issue: | Callable dual range accrual notes
|
| Underlyings: | Libor and S&P 500 index
|
| Amount: | $5.7 million
|
| Maturity: | July 21, 2029
|
| Coupon: | 6.35% for first year; after first year, 6.35% per year multiplied by proportion of days on which Libor is 4.5% or less and index closes at or above accrual barrier level; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any interest payment date from July 21, 2015 onward
|
| Accrual barrier level: | 1,585.256, 80% of initial index level
|
| Pricing date: | July 16
|
| Settlement date: | July 21
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 1730T0T74
|
© 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.
