By Kiku Steinfeld
Chicago, Nov. 29 – Citigroup Global Markets Holdings Inc. priced $589,000 of contingent income autocallable securities due March 28, 2025 linked to the least performing of the Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Industrial Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon at the rate of 8% per year if each fund closes at or above its coupon barrier level, 55% of its initial level, on the determination date for that quarter.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly call determination date.
The payout at maturity will be par unless any fund finishes below its 55% downside threshold, in which case investors will lose 1% for every 1% that the least-performing fund declines from its initial level.
Citigroup Global Markets Inc. is the underwriter with Morgan Stanley Wealth Management as the selected dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying funds: | Financial Select Sector SPDR fund, Energy Select Sector SPDR fund and Industrial Select Sector SPDR fund
|
| Amount: | $589,000
|
| Maturity: | March 28, 2025
|
| Coupon: | 8% per year, payable quarterly if each fund closes at or above barrier level on determination date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any fund finishes below its downside threshold, in which case investors will lose 1% for every 1% that the least-performing fund declines from its initial level
|
| Call: | Automatically at par if each fund closes at or above its initial level on any quarterly call determination date
|
| Initial fund levels: | $39.52 for Financial, $78.75 for Energy, $103.72 for Industrial
|
| Coupon barrier levels: | $21.736 for Financial, $43.313 for Energy, $57.046 for Industrial; 55% of initial levels
|
| Downside thresholds: | $21.736 for Financial, $43.313 for Energy, $57.046 for Industrial; 55% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 2.5%
|
| Cusip: | 17330L843
|
|
|
|
|
© 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.
