Kiku Steinfeld
Chicago, March 24 – Citigroup Global Markets Holdings Inc. priced $425,000 of callable contingent coupon equity-linked securities due March 19, 2025 linked to the worst performing of the S&P 500 index and the ARK Innovation ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes pay a contingent monthly coupon at an annualized rate of 8.9% if each asset closes at or above its coupon barrier level, 60% of its initial level, on the valuation date for that period.
The notes will be callable in whole at par plus any coupon due on any quarterly valuation date after one year.
If the notes are not redeemed, the payout will be par unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset.
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: | S&P 500 index and ARK Innovation ETF
|
Amount: | $425,000
|
Maturity: | March 19, 2025
|
Contingent coupon: | 8.9% per year, payable monthly if each asset closes at or above coupon barrier on the valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par unless any asset finishes below 60% of its initial level, in which case investors will be fully exposed to the loss of the least performing asset
|
Call option: | In whole at par plus any coupon due on any quarterly valuation date after one year
|
Initial levels: | 3,974.12 for S&P and $127.46 for ARK
|
Coupon barriers: | 2,384.472 for S&P and $76.476 for ARK; 60% of initial levels
|
Final barriers: | 2,384.472 for S&P and $76.476 for ARK; 60% of initial levels
|
Pricing date: | March 16
|
Settlement date: | March 19
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 3.5%
|
Cusip: | 17328YZ98
|
|
© 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.