By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – Citigroup Global Markets Holdings Inc. priced $4million of autocallable contingent coupon equity-linked securities due March 30, 2027 linked to the Van Eck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes pay a contingent coupon at the rate of 7.75% per year if the ETF closes at or above its coupon barrier value, 80% of its initial share price, on the valuation date for that month.
The notes will be automatically called at par if the ETF closes at or above its initial level on any quarterly call observation date after one year.
The payout at maturity will be par unless the ETF finishes below its final buffer value, 80% of its initial level, in which case investors will lose 1% for every 1% that the ETF declines beyond 20%.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETF: | Van Eck Vectors Gold Miners exchange-traded fund
|
| Amount: | $4 million
|
| Maturity: | March 30, 2027
|
| Coupon: | 7.75% per year, payable monthly if ETF closes at or above coupon barrier value on valuation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below final buffer value, in which case 1% loss for every 1% that ETF declines beyond 20%
|
| Call: | Automatically at par if ETF closes at or above initial level on any quarterly call observation date after one year
|
| Initial levels: | $29.49
|
| Coupon barrier: | $23.592, or 80% of initial level
|
| Final barrier: | $23.592, or 80% of initial level
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 27
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.3%
|
| Cusip: | 17327TWW2
|
|
|
|
|
© 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.
