By Angela McDaniels
Tacoma, Wash., Oct. 18 – Citigroup Global Markets Holdings Inc. priced $590,000 of autocallable contingent coupon equity-linked securities due April 21, 2027 linked to the lesser performing of the SPDR S&P Oil & Gas Exploration & Production exchange-traded fund and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 12.6% per year if the lesser-performing ETF closes at or above its coupon barrier value, 70% of its initial share price, on the valuation date for that month.
From October 2020 to March 2027, the notes will be automatically called at par if the lesser-performing ETF closes at or above its initial share price on any monthly valuation date.
The payout at maturity will be par unless the lesser-performing ETF finishes below its final barrier value, 80% of its initial share price, in which case investors will lose 1% for every 1% that the lesser-performing ETF declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETFs: | SPDR S&P Oil & Gas Exploration & Production ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $590,000
|
| Maturity: | April 21, 2027
|
| Coupon: | 12.6% per year, payable monthly if lesser-performing ETF closes at or above coupon barrier value on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing ETF finishes below final barrier value, in which case 1% loss for every 1% that lesser-performing ETF declines beyond 20%
|
| Call: | Automatically at par if lesser-performing ETF closes at or above initial share price on any monthly valuation date from October 2020 to March 2027
|
| Initial share prices: | $20.85 for oil ETF and $26.71 for gold ETF
|
| Coupon barriers: | $14.595 for oil ETF and $18.697 for gold ETF, or 70% of initial share prices
|
| Barrier values: | $16.680 for oil ETF and $21.368 for gold ETF, or 80% of initial share prices
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.85%
|
| Cusip: | 17327TPK6
|
© 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.
