By Sarah Lizee
Olympia, Wash., March 11 – Citigroup Global Markets Holdings Inc. priced $5 million of autocallable contingent coupon equity-linked securities due March 5, 2025 linked to the worst performing of the Energy Select Sector SPDR fund and the VanEck Vectors Junior Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly contingent coupon at the rate of 9.5% per year if the least-performing ETF closes at or above its coupon barrier value, 80% of its initial share price, on the relevant valuation date.
Starting in March 2021, the notes will be automatically called at par if the least-performing ETF closes at or above its initial share price on any valuation date.
The payout at maturity will be par unless any ETF finishes below its buffer value, 80% of its initial share price, in which case investors will lose 1% for every 1% that the least-performing ETF declines beyond the buffer.
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 ETFs: | Energy Select Sector SPDR fund and VanEck Vectors Junior Gold Miners ETF
|
| Amount: | $5 million
|
| Maturity: | March 5, 2025
|
| Coupon: | 9.5% per year, payable monthly if least-performing ETF closes at or above coupon barrier value on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless any ETF finishes below its buffer value, in which case investors will lose 1% for every 1% that the least-performing ETF declines beyond the buffer
|
| Call: | Automatically at par if least-performing ETF closes at or above initial share price on any semiannual valuation date from March 2021
|
| Initial share prices: | $45.27 for energy ETF, $36.05 for gold ETF
|
| Coupon barriers: | $36.216 for energy ETF, $28.840 for gold ETF, or 80% of initial share prices
|
| Buffer values: | $36.216 for energy ETF, $28.840 for gold ETF, or 80% of initial share prices
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 4%
|
| Cusip: | 17328VD80
|
|
|
© 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.
