By Devika Patel
Knoxville, Tenn., April 7 – Citigroup Global Markets Holdings Inc. priced $4.47 million of autocallable contingent coupon equity-linked securities due April 9, 2018 linked to ConocoPhillips common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if ConocoPhillips stock closes at or above the barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if ConocoPhillips shares close at or above the initial share price on any quarterly review date beginning in July 2017 and ending in January 2018.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will receive a number of ConocoPhillips shares equal to the principal divided by the initial share price, or, at the issuer’s option, the cash equivalent.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stock: | ConocoPhillips (Symbol: COP)
|
| Amount: | $4,465,000
|
| Maturity: | April 9, 2018
|
| Coupon: | 10% per year, payable quarterly if ConocoPhillips shares close at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final coupon; otherwise, a number of ConocoPhillips shares equal to the principal divided by the initial share price, or, at issuer’s option, cash equivalent
|
| Call: | At par plus contingent coupon if ConocoPhillips shares close at or above initial share price on any quarterly review date beginning in July 2017 and ending in January 2018
|
| Initial share price: | $49.73
|
| Barrier level: | $39.784, 80% of initial share price
|
| Pricing date: | April 4
|
| Settlement date: | April 7
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XBP4
|
|
|
© 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.
