New Issue: Citi sells $549,000 callable contingent coupon equity notes on indexes, ETF

By William Gullotti

Buffalo, N.Y., Nov. 5 – Citigroup Global Markets Holdings Inc. priced $549,000 of callable contingent coupon equity-linked securities due Aug. 2, 2023 linked to the worst performing of the S&P 500 index, the iShares MSCI EAFE ETF and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes pay a contingent quarterly coupon at an annualized rate of 7.5% if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.

After six months, the notes will be callable in whole at par plus any coupon due on any quarterly call valuation date.

If the notes have not been called, the payout at maturity will be par plus the final coupon if all underliers finish at or above the 70% barrier level. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying assets:	Russell 2000 index, S&P 500 index, iShares MSCI EAFE ETF
Amount:	$549,000
Maturity:	Aug. 2, 2023
Contingent coupon:	7.5% per year, payable quarterly if each underlier closes at or above coupon barrier on the valuation date for that period
Price:	Par
Payout at maturity:	If all underliers finish at or above the 70% barrier level, par plus the final coupon; otherwise, lose 1% for every 1% decline of the worst performer from its initial level
Call option:	In whole at par plus any coupon due on any quarterly call valuation date after six months
Initial levels:	$79.01 for ETF, 2,191.833 for Russell, 4,401.46 for S&P
Coupon barrier levels:	$55.307 for ETF, 1,534.283 for Russell, 3,081.022 for S&P; 70% of initial levels
Barrier levels:	$55.307 for ETF, 1,534.283 for Russell, 3,081.022 for S&P; 70% of initial levels
Strike date:	July 27
Pricing date:	July 28
Settlement date:	Aug. 2
Underwriter:	Citigroup Global Markets Inc.
Fees:	0.3%
Cusip:	17329QKE9

© 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.