Published on 7/29/2016 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $1 million callable contingent coupon notes tied to S&P, Russell
By Marisa Wong
Morgantown, W.Va., July 29 – Citigroup Global Markets Holdings Inc. priced $1 million of callable contingent coupon notes due July 31, 2031 linked to 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 will pay a contingent coupon at an annual rate of 8% if each index closes at or above its barrier level, 75% of its initial level, on the observation date for that quarter.
The notes will be callable at par plus the coupon, if any, on any interest payment date after one year.
The payout at maturity will be par plus the final coupon, if any, unless the return of either index is less than negative 50%, in which case investors will be fully exposed to the decline of the worse-performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying indexes: | S&P 500, Russell 2000
|
| Amount: | $1 million
|
| Maturity: | July 31, 2031
|
| Coupon: | 8% per year, payable quarterly if each index closes at or above its coupon barrier level on the observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon, if any, unless the return of either index is less than negative 50%, in which case investors will be fully exposed to the decline of the worse-performing index
|
| Call option: | At par plus the coupon, if any, on any interest payment date after one year
|
| Initial levels: | 2,169.18 for S&P, 1,216.859 for Russell
|
| Coupon barrier levels: | 1,626.885 for S&P, 912.644 for Russell; 75% of initial levels
|
| Barrier levels: | 1,084.590 for S&P, 608.430 for Russell; 50% of initial levels
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 5%
|
| Cusip: | 17324C6U5
|
© 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.
