By Kiku Steinfeld
Chicago, Feb. 16 – Citigroup Global Markets Holdings Inc. priced $2.29 million of autocallable contingent coupon equity-linked securities due Feb. 6, 2025 linked to the common stocks of FedEx Corp., Raytheon Technologies Corp. and Waste Management, Inc., 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 annualized rate of 7.65% if the worst performing stock closes at or above the barrier price, 50% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the shares of each stock close at or above the initial share prices on any valuation date after six months.
If the notes are not called, the payout at maturity will be par unless the worst performing stock finishes below the 50% barrier level, in which case investors will be fully exposed to the losses of the worst performer.
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: | FedEx Corp., Raytheon Technologies Corp. and Waste Management, Inc.
|
| Amount: | $2,290,000
|
| Maturity: | Feb. 6, 2025
|
| Coupon: | 7.65% per year, payable quarterly if worst performing stock is greater than or equal to barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless at least one stock finishes below barrier level, in which case, full exposure to losses of worst performer
|
| Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any quarterly valuation date after six months
|
| Initial share prices: | $239.24 for FedEx, $66.96 for Raytheon and $112.09 for Waste Management
|
| Barrier prices: | $119.620 for FedEx, $33.480 for Raytheon and $56.045 for Netflix, 50% of initial share prices
|
| Pricing date: | Feb. 2
|
| Settlement date: | Feb. 5
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17328YKW3
|
|
|
© 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.
