Chicago, Feb. 8 – Citigroup Global Markets Holdings Inc. priced $1.06 million of autocallable contingent coupon equity-linked securities due April 21, 2022 linked to the worst 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.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each ETF closes at or above the coupon barrier level, 78% of the initial level, on the valuation date for that period. Previously unpaid coupons will also be paid.
The notes will be automatically called at par plus the coupon if each ETF closes at or above its initial level, on any quarterly valuation date.
If the notes have not been called, the payout at maturity will be par unless either ETF closes below its 78% barrier value in which case investors will lose 1% for every 1% decline of the worst performer from its initial level, payable in shares or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | Financial Select Sector SPDR fund and the SPDR S&P Regional Banking ETF
|
| Amount: | $1,055,000
|
| Maturity: | April 21, 2022
|
| Coupon: | 8% annualized rate, payable quarterly if each ETF closes at or above coupon barrier level, on valuation date for that period; previously unpaid coupons will also be paid
|
| Price: | Par
|
| Payout at maturity: | Par unless either ETF closes below its final barrier value, in which case investors will be fully exposed to the losses of the worst performer payable in shares or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each ETF closes at or above initial level on any quarterly valuation date after six months
|
| Initial levels: | $35.40 for Financial, $67.67 for Banking
|
| Coupon barrier levels: | $27.612 for Financial, $52.783 for Banking; 78% of initial levels
|
| Final barrier levels: | $27.612 for Financial, $52.783 for Banking; 78% of initial levels
|
| Equity ratios: | 28.24859 for Financial, 14.7776 for Banking
|
| Pricing date: | April 16
|
| Settlement date: | April 21
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NQF8
|
© 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.
