By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $390,000 of autocallable contingent coupon equity-linked securities due Oct. 3, 2022 linked to the stocks of Alphabet Inc., Apple Inc. and Microsoft Corp., 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 14.15% if each stock closes at or above the barrier price, 70% of the initial price, on the determination date for that period.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly call observation date.
If the notes are not called and each stock finishes at or above its barrier price, 70% of its initial level, the payout at maturity will be par plus the contingent coupon.
If the notes are not called and the worst performing stock finishes below 70% of its initial level, investors will receive a fixed number of underlying shares of the worst performing underlying or the cash value of those shares, thereby fully participating in the losses of the worst performing stock.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Alphabet Inc., Apple Inc. and Microsoft Corp.
|
| Amount: | $390,000
|
| Maturity: | Oct. 3, 2022
|
| Coupon: | 14.15% annualized rate if each stock closes at or above the barrier price, 70% of the initial price, on the quarterly determination date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above 70% of initial level; otherwise a number of shares equal to the principal amount divided by the initial underlying value of the worst performing stock or the cash value of those shares
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above its initial level on any quarterly call observation date
|
| Initial share prices: | $1,409.39 for Alphabet, $107.12 for Apple and $200.59 for Microsoft
|
| Coupon barrier prices: | $986.573 for Alphabet, $74.984 for Apple and $140.413 for Microsoft; 70% of initial levels
|
| Final barrier prices: | $986.573 for Alphabet, $74.984 for Apple and $140.413 for Microsoft; 70% of initial levels
|
| Equity ratios: | 0.70953 for Alphabet, 9.33532 for Apple and 4.98529 for Microsoft
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17324X3Z1
|
© 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.
