By Wendy Van Sickle
Columbus, Ohio, Sept. 6 – Citigroup Global Markets Holdings Inc. priced $3.42 million of autocallable contingent coupon equity-linked securities due Sept. 2, 2021 tied to the stocks of Micron Technology, Inc., Netflix, Inc. and Nvidia Corp., 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 annual rate of 11% if each stock closes at or above its 55% coupon barrier price on the review date.
The notes will be automatically redeemed at par plus interest if each stock closes at or above 90% of its initial price on any quarterly redemption date after six months.
If the notes are not called and the final price of each stock is at least 55% of its initial price, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the least-performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Micron Technology, Inc., Netflix, Inc. and Nvidia Corp.
|
| Amount: | $3,415,000
|
| Maturity: | Sept. 2, 2021
|
| Coupon: | 11% annualized, payable monthly if each stock closes at or above coupon barrier price on review date
|
| Price: | Par
|
| Payout at maturity: | Par if each stock’s final price is at least 55% of initial price; otherwise, full exposure to decline of least-performing stock
|
| Call: | At par plus interest if each stock closes at or above 90% of initial price on any quarterly redemption date after six months
|
| Initial prices: | $52.34 for Micron, $274.38 for Nvidia, $368.49 for Netflix
|
| Coupon/final barriers: | $52.34 for Micron, $274.38 for Nvidia, $368.49 for Netflix; 55% of initial prices
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 31
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 3.85%
|
| Cusip: | 17324CZD1
|
|
|
|
|
© 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.
