By Kiku Steinfeld
Chicago, June 29 – Citigroup Global Markets Holdings Inc. price $5.95 million of contingent income autocallable securities due June 22, 2023 linked to the worst performing of the Financial Select Sector SPDR fund, the Energy Select Sector SPDR fund and the Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annualized rate of 7.5% if each ETF closes at or above its 70% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each ETF closes at or above its initial value on any quarterly observation date.
The payout at maturity will be par unless any ETF finishes below its 70% threshold level, in which case investors will be fully exposed to the losses of the worst-performing ETF.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is acting as a selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying ETFs: | Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Industrial Select Sector SPDR fund
|
| Amount: | $5,953,870
|
| Maturity: | June 22, 2023
|
| Coupon: | 7.5% per year, payable quarterly if each ETF closes at or above its coupon barrier on the related determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below its threshold level, in which case investors will be fully exposed to the losses of the-worst performing ETF
|
| Call: | Automatically redeemed at par if each ETF closes at or above its initial value on any quarterly observation date
|
| Initial levels: | $35.23 for Financial, $52.39 for Energy, $99.61 for Industrial
|
| Coupon barriers: | $24.661 for Financial, $36.673 for Energy, $69.727 for Industrial; 70% of initial levels
|
| Threshold values: | $24.661 for Financial, $36.673 for Energy, $69.727 for Industrial; 70% of initial levels
|
| Pricing date: | June 18
|
| Settlement date: | June 23
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Selected dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2%
|
| Cusip: | 17329D182
|
|
|
© 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.
