By Kiku Steinfeld
Chicago, March 2 – Citigroup Global Markets Holdings Inc. priced $739,000 of autocallable contingent coupon equity-linked securities due May 26, 2022l inked to the worst performing of the Invesco QQQ Trust, series 1 and 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 monthly coupon at an annual rate of 7% if each fund closes at or above the coupon barrier price, 65% of the initial price, on each day of that month.
After six months, the notes will be automatically called at par if each fund closes at or above its initial price, on any quarterly valuation date other than the final one.
If the notes are not called and each fund finishes at or above final barrier price, 65% 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 the initial share price or, at the issuer’s option, the cash equivalent of those shares.
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: | Invesco QQQ Trust, series 1 and the SPDR S&P 500 ETF Trust
|
| Amount: | $739,000
|
| Maturity: | May 26, 2022
|
| Coupon: | 7% annualized rate, payable monthly if each fund closes at or above coupon barrier price on each day of that month
|
| Price: | Par
|
| Payout at maturity: | Par if each fund closes at or above final barrier; otherwise, number of shares of the worst performer equal to principal amount divided by initial share price of worst performing fund or cash equivalent
|
| Call: | After six months, automatically at par if each fund closes at or above initial level on any quarterly valuation date other than final one
|
| Initial levels: | $321.48 for Invesco and $387.50 for S&P
|
| Barrier levels: | $208.962 for Invesco and $251.875 for S&P, 65% of initial levels
|
| Equity ratios: | 3.11061 for Invesco and 2.58065 for S&P
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17328NEC8
|
|
|
© 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.
