By William Gullotti
Buffalo, N.Y., Nov. 4 – Citigroup Global Markets Holdings Inc. priced $2.02 million of equity-linked securities due May 1, 2023 tied to the least performing of the shares of SPDR Dow Jones Industrial Average ETF Trust and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes carry a coupon of 5.6% per year, or 2.8% for the term, payable monthly.
If each ETF finishes at or above 70% of its initial level, the payout at maturity will be par.
Otherwise, investors will receive a number of shares of the worst performer equal to $1,000 divided by that ETF’s initial share price or the cash equivalent at the issuer’s discretion.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Equity-linked securities
|
| Underlying ETFs: | SPDR Dow Jones Industrial Average ETF Trust, SPDR S&P 500 ETF Trust
|
| Amount: | $2.02 million
|
| Maturity: | May 1, 2023
|
| Coupon: | 5.6% per year, or 2.8% for the term, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above barrier, par; otherwise, investors will receive shares of the worst performer equal to its equity ratio or the cash equivalent at the issuer’s discretion
|
| Initial levels: | $318.38 for Dow ETF, $382.02 for S&P ETF
|
| Barrier levels: | $222.866 for Dow ETF, $267.414 for S&P ETF; 70% of initial levels
|
| Equity ratio: | 3.1409 for Dow ETF, 2.61766 for S&P ETF; share delivery per note
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 0.75%
|
| Cusip: | 17330DLG9
|
|
|
© 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.
