By Wendy Van Sickle
Columbus, Ohio, Aug. 2 – Citigroup Global Markets Holdings Inc. priced $1.55 million of autocallable contingent coupon equity-linked securities due July 29, 2027 linked to the performance of the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annualized rate of 11% if the ETF closes at or above the coupon barrier level, 70% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the contingent coupon if the ETF closes at or above the initial level on any monthly valuation date after one year.
If the notes are not called and the ETF finishes at or above the 60% barrier, the payout at maturity will be par plus the final coupon, if any. Otherwise, investors will lose 1% for every 1% decline from the 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 ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $1.55 million
|
| Maturity: | July 29, 2027
|
| Coupon: | 11% annually, payable monthly if ETF closes at or above coupon barrier on the corresponding valuation date
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and the ETF finishes at or above buffer, par plus final coupon, if any; otherwise, lose 1% for every 1% decline from initial level
|
| Call: | Automatically at par plus contingent coupon if ETF closes at or above initial level on any monthly valuation date after one year
|
| Initial level: | $25.10
|
| Coupon barrier: | $17.57; 70% of initial level
|
| Final barrier: | $15.06; 60% of initial level
|
| Pricing date: | July 26
|
| Settlement date: | July 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4.25%
|
| Cusip: | 17330PJJ9
|
|
|
© 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.
