By Wendy Van Sickle
Columbus, Ohio, Sept. 21 – Citigroup Global Markets Holdings Inc. priced $2.94 million of callable contingent coupon equity-linked securities due Sept. 18, 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at annual rate of 8.2% if the index closes at or above its coupon barrier, 60% of its initial level, on the observation date for that period.
The notes will be callable at par plus any coupon due on any quarterly call valuation date.
The payout at maturity will be par plus any final coupon unless the index finishes below its 50% barrier, in which case investors will lose 1% for each 1% decline of the index 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
|
Index: | S&P 500 index
|
Amount: | $2,938,000
|
Maturity: | Sept. 18, 2025
|
Coupon: | 5%, payable quarterly if index closes at or above coupon barrier on observation date
|
Price: | Par
|
Call option: | At par plus any coupon due on any quarterly call valuation date
|
Payout at maturity: | Par plus any coupon if index closes above final barrier level; otherwise 1% loss for each 1% decline of index from initial level
|
Initial level: | 3,401.2
|
Coupon barrier: | 2,380.84, 70% of initial level
|
Final barrier value: | 2,040.72, 60% of initial level
|
Pricing date: | Sept. 15
|
Settlement date: | Sept. 18
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 4%
|
Cusip: | 17328WBT4
|
|
© 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.