By Cady Vishniac
Detroit, Jan. 5 – Citigroup Global Markets Holdings Inc. priced $2.46 million of callable contingent coupon equity-linked securities due Dec. 27, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a monthly coupon at an annual rate of 4% per year if the index finishes at or above its coupon barrier level, 75% of its initial level, on their monthly valuation date.
The notes may be called at par plus any coupon due at the issuer’s option on any monthly valuation date after six months.
If the index finishes at or above its final barrier level, 75% of its initial level, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline of the index from its initial level, but receive a coupon if the index closes at or above its coupon barrier level.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon equity-linked securities
|
| Underlying index: | S&P 500
|
| Amount: | $2,459,000
|
| Maturity: | Dec. 27, 2021
|
| Coupon: | 4% per year, payable monthly if the index finishes at or above the 75% coupon barrier level
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above final barrier level, par plus the coupon; otherwise, 1% loss for each 1% decline of the index from its initial level, plus a coupon if the index closes at or above its coupon barrier level
|
| Call: | At par plus any coupon due at the issuer’s option on any monthly valuation date after six months
|
| Initial level: | 3,694.92
|
| Coupon/final barrier level: | 2,771.19, 75% of initial level
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.375%
|
| Cusip: | 17328Y5P5
|
|
|
© 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.
