By Kiku Steinfeld
Chicago, April 15 – Citigroup Global Markets Holdings Inc. priced $1.04 million of autocallable contingent coupon equity-linked securities due March 28, 2025 linked to the worst performing of the U.S. Global Jets exchange-traded fund and the Health Care Select Sector SPDR fund, 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 annual rate of 9.3% if each asset closes at or above the coupon barrier price, 65% of the initial price, on the valuation date for that period.
The notes will be called at par on any quarterly call valuation date after six months.
If the notes are not called, the payout at maturity will be par unless either asset closes below 55% of its initial price, in which case investors will be fully exposed to the decline of the least performing asset.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | U.S. Global Jets ETF and Health Care Select Sector SPDR fund
|
| Amount: | $1,039,000
|
| Maturity: | March 28, 2025
|
| Coupon: | 9.3% annualized rate, payable monthly if each asset closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset closes below knock-in level, in which investors will be fully exposed to the decline of the least performing asset.
|
| Call: | At par plus coupon if each asset closes at or above initial level on any quarterly call valuation date after six months
|
| Initial share price: | $114.85 for Health Care, $26.26 for Global Jets
|
| Coupon barrier levels: | $74.653 for Health Care, $17.069 for Global Jets, 65% of initial levels
|
| Knock-in levels: | $63.168 for Health Care, $14.443 for Global Jets, 55% of initial levels
|
| Pricing date: | March 25
|
| Settlement date: | March 30
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.75%
|
| Cusip: | 17329F6L3
|
|
|
© 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.
