By Wendy Van Sickle
Columbus, Ohio, Jan. 2 – Citigroup Global Markets Holdings Inc. priced $10.15 million of contingent income autocallable securities due Dec. 27, 2021 linked to JPMorgan Chase & Co. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11% if the underlying stock closes at or above the 75% downside threshold on the determination date for that quarter.
After six months, the notes will be called at par plus the contingent coupon if the stock closes at or above its initial level on any determination date other than the final date.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent with Morgan Stanley Smith Barney LLC as distributor.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income autocallable securities
|
| Underlying stock: | JPMorgan Chase & Co.
|
| Amount: | $10,148,400
|
| Maturity: | Dec. 27, 2021
|
| Coupon: | 11% annualized, payable quarterly if stock closes at or above 75% coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | After six months at par if the stock closes at or above its initial level on any determination date other than the final date
|
| Initial level: | $94.17
|
| Downside threshold: | $70.628, 75% of initial level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 27
|
| Agent: | Citigroup Global Markets Inc.
|
| Distributor: | Morgan Stanley Smith Barney LLC
|
| Fees: | 2.5%
|
| Cusip: | 17326W316
|
|
|
© 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.
