By Taylor Fox
New York, Oct. 26 – Citigroup Global Markets Holdings Inc. priced $1.44 million of autocallable contingent coupon equity-linked securities due Sept. 29, 2021 linked to the least performing of the iShares Silver Trust and the SPDR Gold Trust, 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 9% per year if each fund closes at or above its coupon barrier level, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each fund closes at or above its initial level on any quarterly call observation date.
The payout at maturity will be par unless any fund finishes below its barrier level, 70% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing fund, payable either in shares or cash.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | iShares Silver Trust and the SPDR Gold Trust
|
| Amount: | $1,437,000
|
| Maturity: | Sept. 29, 2021
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 9% per year unless any fund closes below coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any fund finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing fund
|
| Call: | Automatically at par if each fund closes at or above initial level on any quarterly call observation date
|
| Initial levels: | $175.44 for Gold, $21.56 for Silver
|
| Coupon barrier levels: | $122.808 for Gold, $15.092 for Silver; 70% of initial levels
|
| Final barrier levels: | $122.808 for Gold, $15.092 for Silver; 70% of initial levels
|
| Equity ratios: | 5.69995 for Gold, 46.38219 for Silver
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XZ45
|
|
|
© 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.
