By Wendy Van Sickle
Columbus, Ohio, Nov. 30 – Citigroup Global Markets Holdings Inc. priced $589,000 of autocallable contingent coupon equity-linked securities due Nov. 26, 2021 linked to the least performing of the Financial Select Sector SPDR fund and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 10% per year if the least-performing ETF closes at or above its coupon barrier value, 74% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par if the least-performing ETF closes at or above its initial price on any quarterly call valuation date.
The payout at maturity will be par unless the least-performing ETF finishes below its final barrier value, 74% of its initial share price, in which case investors will have full exposure to the loss of the worst performing underlying asset paid in shares or cash.
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: | Financial Select Sector SPDR fund and SPDR S&P Regional Banking ETF
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Amount: | $589,000
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Maturity: | Nov. 26, 2021
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Coupon: | 10% per year, payable quarterly if least-performing ETF closes at or above coupon barrier value on valuation date for that quarter
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Price: | Par
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Payout at maturity: | Par unless least-performing ETF finishes below final barrier value, in which case full exposure to loss of worst performing ETF, paid in shares or cash
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Call: | Automatically at par if the least-performing ETF closes at or above its initial price on any quarterly call valuation date
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Initial share prices: | $27.18 for Financial, $47.67 for Regional Banking
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Coupon barriers: | $20.113 for Financial, $35.276 for Regional Banking, or 74% of initial share prices
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Barrier values: | $20.113 for Financial, $35.276 for Regional Banking, or 74% of initial share prices
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Pricing date: | Nov. 20
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Settlement date: | Nov. 24
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Underwriter: | Citigroup Global Markets Inc.
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Fees: | 1%
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Cusip: | 17324X6C9
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