By Wendy Van Sickle
Columbus, Ohio, July 9 – Citigroup Global Markets Holdings Inc. priced $674,000 of autocallable contingent coupon equity-linked securities due Dec. 31, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 8% per year if the lesser-performing index closes at or above its knock-in value, 70% of its initial level, on the valuation date for that quarter.
Beginning in December, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential redemption date.
The payout at maturity will be par unless the lesser-performing index finishes below its initial level and either index closes below its knock-in value during the life of the notes, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $674,000
|
| Maturity: | Dec. 31, 2020
|
| Coupon: | 8% per year, payable quarterly if lesser-performing index closes at or above knock-in value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing index finishes below initial level and either index closes below knock-in value during life of notes, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning in December, notes will be automatically called at par if lesser-performing index closes at or above initial level on any quarterly potential redemption date
|
| Initial levels: | 1,566.572 for Russell 2000 and 2,941.76 for S&P 500
|
| Knock-in value: | 1,096.6 for Russell 2000 and 2,059.232 for S&P 500, or 70% of initial levels
|
| Pricing date: | June 25
|
| Settlement date: | June 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.875%
|
| Cusip: | 17326Y3J3
|
|
|
© 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.
