By Wendy Van Sickle
Columbus, Ohio, Dec. 6 – Citigroup Global Markets Holdings Inc. priced $1.09 million of autocallable contingent coupon equity-linked securities due Nov. 29, 2024 linked to the least performing of the shares of the Energy Select Sector SPDR fund and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 8.5% per year if the least-performing ETF closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that month.
Starting in November 2020, the notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any monthly valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final buffer value, 80% of its initial share price, in which case investors will lose 1% for every 1% that the least-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.
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Guarantor: | Citigroup Inc.
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Issue: | Autocallable contingent coupon equity-linked securities
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Underlying ETFs: | Energy Select Sector SPDR fund and SPDR S&P Biotech ETF
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Amount: | $1,085,000
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Maturity: | Nov. 29, 2024
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Coupon: | 8.5% per year, payable monthly if least-performing ETF closes at or above coupon barrier value on valuation date for that month
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Price: | Par
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Payout at maturity: | Par unless least-performing ETF finishes below final buffer value, in which case 1% loss for every 1% that least-performing ETF declines beyond 20%
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Call: | Automatically at par if least-performing ETF closes at or above initial share price on any monthly valuation date from November 2020
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Initial share prices: | $59.89 for energy ETF, $91.89 for biotech ETF
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Coupon barriers: | $47.912 for energy ETF, $73.512 for biotech ETF, or 80% of initial share prices
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Buffer values: | $47.912 for energy ETF, $73.512 for biotech ETF, or 80% of initial share prices
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Pricing date: | Nov. 25
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Settlement date: | Nov. 29
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 4.125%
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Cusip: | 17322TWH5
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