By Angela McDaniels
Tacoma, Wash., May 7 – Citigroup Global Markets Holdings Inc. priced $425,000 of autocallable contingent coupon equity-linked securities due May 3, 2024 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 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 6.25% per year if the lesser-performing index closes at or above its final barrier value, 75% of its initial level, on the valuation date for that quarter.
Beginning in October 2019, 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 final barrier value, 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 Euro Stoxx 50
|
| Amount: | $425,000
|
| Maturity: | May 3, 2024
|
| Coupon: | 6.25% per year, payable quarterly if lesser-performing index closes at or above final barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing index finishes below final barrier value, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning in October 2019, 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: | 2,945.83 for S&P 500 and 3,514.62 for Euro Stoxx 50
|
| Final barrier value: | 2,209.373 for S&P 500 and 2,635.965 for Euro Stoxx 50, or 75% of initial levels
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17326Y2C9
|
© 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.
