By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – Citigroup Global Markets Holdings Inc. priced $4.29 million of 0% autocallable securities due Jan. 12, 2023 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
Citigroup will call the notes at par of $1,000 plus a call premium of 10.25% per year if the closing level of each asset is greater than or equal to its call level on any annual call date. The call level is equal to the initial level on the first call date and steps down by 5% on each subsequent call date.
If each asset finishes at or above its premium threshold level, 80% of its initial index level, the payout at maturity will be $1,512.50 per $1,000 of notes.
Investors will receive par if the final level of any asset is less than 80% but each asset finishes at or above the trigger level, 70% of its initial level.
Otherwise, investors will lose 1% for each 1% decline of the worst performing asset from its initial level.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable securities
|
| Underlying indexes: | S&P 500, Russell 2000, iShares MSCI Emerging Markets ETF
|
| Amount: | $4,288,000
|
| Maturity: | Jan. 12, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 51.25% if each asset finishes above 80% premium threshold; par if either asset finishes below premium threshold, but each asset finishes at or above trigger level; otherwise, investors will be fully exposed to any decline of the least performing asset
|
| Call: | Automatically at par plus annualized premium of 10.25% if each asset closes at or above call level on any annual call date; call level equals the initial level on the first call date and steps down by 5% each subsequent year
|
| Initial levels: | 1,561.808 for Russell, 2,747.71 for S&P and $49.13 for ETF
|
| Triggers: | 1,093.266 for Russell, 1,923.397 for S&P and $34.391 for ETF; 70% of initial levels
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 11
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.25%
|
| Cusip: | 17324CQP4
|
|
|
© 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.
