By Marisa Wong
Morgantown, W.Va., Feb. 9 – Citigroup Global Markets Holdings Inc. priced $21.67 million of securities due March 16, 2018 linked inversely to the S&P GSCI Total Return index, according to an FWP filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a coupon equal to one-month Libor minus 14 basis points, subject to a floor of zero. Interest is payable monthly.
The payout at maturity will be par plus the supplemental return amount. The supplemental return amount will equal par times (a) 3 times (b) the inverse underlying index performance plus the T-Bill amount minus a fee of 0.17% per year.
The inverse underlying index performance is (a) 1 minus (b) the final index level divided by the initial level.
The T-Bill amount is the hypothetical interest accrued on the 13-week U.S. Treasury bills from but excluding the pricing date to and including the relevant trading day.
The notes will be automatically called at par plus the supplemental return amount if the index ever closes at or above 115% of its initial level.
The notes are putable at any time, subject to a minimum redemption amount of 1,000 notes.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Securities
|
Underlying index: | S&P GSCI Total Return
|
Amount: | $21.67 million
|
Maturity: | March 16, 2018
|
Coupon: | One-month Libor minus 14 bps, subject to a floor of zero; payable monthly
|
Price: | Par
|
Payout at maturity: | Par plus the supplemental return amount; supplemental return amount will equal par times (a) 3 times (b) the inverse underlying index performance plus the T-Bill amount minus a fee of 0.17% per year
|
Call: | Automatically at par plus the supplemental return amount if the index ever closes at or above 115% of its initial level
|
Put option: | At any time, subject to a minimum redemption amount of 1,000 notes
|
Initial index level: | 2,399.658
|
Pricing date: | Feb. 6
|
Settlement date: | Feb. 9
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | None
|
Cusip: | 17324CF35
|
|
© 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.