By Wendy Van Sickle
Columbus, Ohio, Dec. 4 – Citigroup Global Markets Holdings Inc. priced $15 million of autocallable phoenix securities due Dec. 6, 2021 linked to the 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 will pay a contingent quarterly coupon at an annual rate of 6.3% if the ETF closes at or above its 85% coupon barrier on the related quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the ETF closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the ETF finishes below the 85% buffer, in which case investors will lose 1.17647% for each 1% decline in the share price beyond 15%.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable phoenix securities
|
Underlying ETF: | SPDR S&P 500 ETF trust
|
Amount: | $15 million
|
Maturity: | Dec. 6, 2021
|
Coupon: | 6.3% annualized, payable each quarter that ETF closes at or above coupon barrier on determination date for that quarter, plus any previously unpaid coupon
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon unless the ETF finishes below buffer, in which case 1.17647% loss for each 1% decline in share price beyond 15%
|
Call: | At par plus contingent coupon if ETF closes at or above initial price on any quarterly valuation date
|
Initial share price: | $362.06
|
Coupon barrier: | $307.751, 85% of initial price
|
Buffer: | $307.751, 85% of initial price
|
Pricing date: | Dec. 1
|
Settlement date: | Dec. 4
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 0.5%
|
Cusip: | 17328YFK5
|
|
© 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.