By Sarah Lizee
Olympia, Wash., Dec. 26 – Citigroup Global Markets Holdings Inc. priced $778,000 of autocallable contingent coupon equity-linked securities due Dec. 24, 2024 linked to the lesser performing 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% per year if the lesser-performing underlier closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that period.
Beginning in December 2020, the notes will be automatically called at par plus the coupon if the lesser-performing underlier closes at or above its initial level on any monthly observation date.
The payout at maturity will be par unless the lesser-performing underlier finishes below its final barrier value, 80% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines from its initial level.
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
|
| Underliers: | Energy Select Sector SPDR fund and SPDR S&P Biotech ETF, Trust
|
| Amount: | $778,000
|
| Maturity: | Dec. 24, 2024
|
| Coupon: | 8% per year, payable monthly if lesser-performing underlier closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing underlier finishes below final barrier value, in which case 1% loss for every 1% that lesser-performing underlier declines from initial level
|
| Call: | Beginning in December 2020, automatically at par plus coupon if lesser-performing underlier closes at or above initial level on any monthly observation date
|
| Initial levels: | $61.37 for energy fund, $96.43 for biotech fund
|
| Coupon barriers: | $49.096 for energy fund, $77.144 for biotech fund, or 80% of initial levels
|
| Final barriers: | $49.096 for energy fund, $77.144 for biotech fund, or 80% of initial levels
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.125%
|
| Cusip: | 17327TDJ2
|
|
|
© 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.
