Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $227,000 of autocallable contingent coupon equity-linked securities due Jan. 23, 2020 linked to the worst performing of the common stocks of McDonald’s Corp. and Starbucks 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 quarterly coupon at an annual rate of 8% if both stocks close at or above the coupon barrier level, 75% of their initial levels, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if both stocks close at or above their initial share prices on any quarterly valuation date from April 2019 through October 2019.
The payout at maturity will be par plus the contingent coupon, if any, unless either stock finishes below the 75% barrier value, in which case investors will receive a number of shares of the worst performing stock equal to its equity ratio or, if Citigroup elects, the cash value of those shares.
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: | McDonald’s Corp. and Starbucks Corp.
|
| Amount: | $227,000
|
| Maturity: | Jan. 23, 2020
|
| Coupon: | 8% per year, payable quarterly if both stocks close at or above coupon barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final price of each stock is greater than or equal to barrier level, par plus final coupon, if any; otherwise, full exposure to losses of worst performing stock paid in either shares of worst performer or cash
|
| Call: | At par plus contingent coupon if both stocks close at or above initial share price on any quarterly valuation date from April 2019 through October 2019
|
| Initial share prices: | $181.11 for McDonald’s, $64.28 for Starbucks
|
| Coupon barrier levels: | $135.833 for McDonald’s, $48.21 for Starbucks, 75% of initial share prices
|
| Final barrier levels: | $135.833 for McDonald’s, $48.21 for Starbucks, 75% of initial share prices
|
| Equity ratios: | 5.52151 for McDonald’s, 15.55694 for Starbucks
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324XDP2
|
|
|
© 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.
