By Kiku Steinfeld
Chicago, Nov. 14 – Citigroup Global Markets Holdings Inc. priced $705,000 of autocallable contingent coupon equity linked securities due March 24, 2025 linked to the common stocks of Bank of America Corp. and Wells Fargo & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14.65% paid quarterly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons.
The securities will be called automatically starting June 15 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date.
If the worst performing stock finishes at or above its 70% final barrier the payout at maturity will be par. Otherwise investors will lose 1% loss for every 1% that the worst performing stock declines, payable in shares or cash at option of the issuer.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity linked securities
|
| Underlying stocks: | Bank of America Corp. and Wells Fargo & Co.
|
| Amount: | $705,000
|
| Maturity: | March 24, 2025
|
| Coupon: | 14.65% paid quarterly if the worst performing stock closes at or above its 70% coupon barrier on the related valuation date, plus any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above final barrier par; 1% loss for every 1% that worst performing stock declines if it ends below final barrier, payable in shares or cash at option of the issuer
|
| Call: | Automatically starting June 15 at par if the price of the worst performing stock is greater than or equal to its initial price and on any subsequent quarterly valuation date
|
| Initial levels: | $41.20 for Bank of America, $49.86 for Wells
|
| Coupon barriers: | $28.840 for Bank of America, $34.902 for Wells, 70% of initial levels
|
| Final barriers: | $28.840 for Bank of America, $34.902 for Wells, 70% of initial levels
|
| Equity ratios: | 24.27184 for Bank of America, 20.05616 for Wells
|
| Pricing date: | March 15
|
| Settlement date: | March 22
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 2.75%
|
| Cusip: | 17328NY44
|
|
|
|
|
© 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.
