By Tali Rackner
Minneapolis, Jan. 12 – Citigroup Global Markets Holdings Inc. priced $4.61 million of autocallable contingent coupon equity-linked securities due Jan. 14, 2019 linked to the class A common stocks of Facebook, Inc. and Alphabet, Inc., 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 an annualized rate of 8% if each stock closes at or above its barrier price, 80% of its initial share price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if each stock closes at or above its initial share price on any quarterly valuation date beginning in April 2018 and ending in October 2018.
If the final share price of each stock is greater than or equal to its barrier price, the payout at maturity will be par plus the contingent coupon.
Otherwise, the payout will be a number of shares of the lesser-performing stock equal to the equity ratio of that stock or, at the issuer’s option, an amount in cash equal to the value 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 stocks: | Facebook, Inc. (Symbol: FB) and Alphabet, Inc. (Symbol: GOOGL)
|
| Amount: | $4,608,000
|
| Maturity: | Jan. 14, 2019
|
| Coupon: | 8% per year, payable quarterly if each stock closes at or above barrier price on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final share price of each stock is greater than or equal to barrier price, par plus contingent coupon; otherwise, number of shares of lesser-performing stock equal to the equity ratio of that stock or, at issuer’s option, cash amount equal to value of those shares
|
| Call: | Automatically at par plus contingent coupon if each stock closes at or above initial share price on any quarterly valuation date beginning in April 2018 and ending in October 2018
|
| Initial share prices: | $187.87 for Facebook and $1,112,79 for Alphabet
|
| Barrier prices: | $150.296 for Facebook and $890.232 for Alphabet; 80% of initial share prices
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17324XFX3
|
|
|
|
|
© 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.
