New Issue: Citi sells $1.47 million autocallable contingent coupon equity notes on Stoxx, oil and gas ETF

By Kiku Steinfeld

Chicago, Dec. 15 – Citigroup Global Markets Holdings Inc. priced $1.47 million of autocallable contingent coupon equity-linked securities due Aug. 29, 2024 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the Euro Stoxx 50 index, 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 8.75% if each underlier closes at or above the coupon barrier level, 60% of the initial level, on the valuation date for that period.

The notes will be automatically called at par plus the coupon if each underlier closes at or above its initial level, on any quarterly valuation date after six months.

If the notes are not called and each underlier finishes at or above final barrier level, 60% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Autocallable contingent coupon equity-linked securities
Underlying assets:	Euro Stoxx 50 index, SPDR S&P Oil & Gas Exploration & Production ETF
Amount:	$1,469,000
Maturity:	Aug. 29, 2024
Coupon:	8.75% annualized rate, payable quarterly if each underlier closes at or above coupon barrier level, on valuation date for that period
Price:	Par
Payout at maturity:	Par plus contingent coupon if each underlier closes at or above final barrier; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
Call:	Automatically at par plus coupon if each underlier closes at or above initial level on any quarterly valuation date after six months
Initial levels:	$80.59 for ETF, 4,181.12 for index
Coupon barrier levels:	$48.354 for ETF, 2,508.672 for index; 60% of initial levels
Final barrier levels:	$48.354 for ETF, 2,508.672 for index; 60% of initial levels
Pricing date:	Aug. 25
Settlement date:	Aug. 30
Underwriter:	Citigroup Global Markets Inc.
Fees:	2%
Cusip:	17329QBN9

© 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.