By Wendy Van Sickle
Columbus, Ohio, Dec. 1 – Citigroup Global Markets Holdings Inc. priced $5 million of autocallable phoenix securities due Oct. 7, 2024 linked to the shares of Shopify Inc., 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 33.45% if the stock closes at or above its 50% coupon barrier on the related quarterly observation date, in which case a coupon will also be paid for any previously unpaid quarter.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the 50% barrier level, in which case investors will be fully exposed to the losses of the stock.
Citigroup Global Markets Inc. is the agent.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable phoenix securities
|
Underlying stock: | Shopify Inc.
|
Amount: | $5 million
|
Maturity: | Oct. 7, 2024
|
Coupon: | 33.45% annualized, payable each quarter that stock closes at or above coupon barrier on determination date for that quarter, plus any previously unpaid coupon
|
Price: | Par
|
Payout at maturity: | Par plus the final coupon unless the stock finishes below barrier level, in which case full exposure to losses of stock
|
Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date
|
Initial share price: | $27.21
|
Coupon barrier: | $13.605, 50% of initial price
|
Barrier level: | $13.605, 50% of initial price
|
Pricing date: | Oct. 10
|
Settlement date: | Oct. 13
|
Agent: | Citigroup Global Markets Inc.
|
Fees: | 1%
|
Cusip: | 17330Y2B5
|
|
|
|
© 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.