By Taylor Fox
New York, Sept. 14 – Citigroup Global Markets Holdings Inc. priced $900,000 of autocallable contingent coupon equity-linked securities due Aug. 31, 2023 linked to the least performing of the iShares MSCI Emerging Markets ETF and the Russell 2000 index, 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 6.25% per year if each index closes at or above its coupon barrier level, 65% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par if each index closes at or above its initial level on any quarterly call observation date after six months.
The payout at maturity will be par unless any index finishes below its barrier level, 65% of its initial level, in which case investors will lose 1% for every 1% decline of the least performing index.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying indexes: | iShares MSCI Emerging Markets ETF and Russell 2000 index
|
| Amount: | $900,000
|
| Maturity: | Aug. 31, 2023
|
| Coupon: | Each quarter, notes pay contingent coupon at rate of 6.25% per year unless any index closes below coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its barrier level, in which case 1% loss for every 1% decline of the least performing index
|
| Call: | Automatically at par if each index closes at or above initial level on any quarterly call observation date after six months
|
| Initial levels: | 1,578.343 for Russell, $45.55 for iShares
|
| Coupon barrier levels: | 1,025.923 for Russell, $29.608 for iShares; 65% of initial levels
|
| Final barrier levels: | 1,025.923 for Russell, $29.608 for iShares; 65% of initial levels
|
| Pricing date: | Aug. 28
|
| Settlement date: | Sept. 2
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17328WE87
|
|
|
© 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.
