Chicago, March 29 – Citigroup Global Markets Holdings Inc. priced $4.32 million of contingent income callable securities due March 3, 2031 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at the rate of 5.6% per year if the index closes at or above its coupon threshold level, 75% of its initial level, on the determination date for that quarter.
The notes will be callable at par on any quarterly coupon payment date after nine months.
If the index finishes at or above its downside threshold level, 75% of its initial level, the payout at maturity will be par plus the final contingent coupon. If the final index level is less than the downside threshold level, investors will be fully exposed to the index’s decline from its initial level.
Citigroup Global Markets Inc. is the underwriter. Morgan Stanley Wealth Management is acting as dealer.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Contingent income callable securities
|
| Underlying index: | S&P 500 index
|
| Amount: | $4,324,000
|
| Maturity: | March 3, 2031
|
| Coupon: | 5.6% per year, payable each quarter that index closes at or above its coupon threshold level on the determination date for that quarter
|
| Price: | Par
|
| Call option: | At par on any quarterly coupon payment date after nine months
|
| Payout at maturity: | If the index finishes at or above its downside threshold level, par plus the final contingent coupon; if the final index level is less than the downside threshold level, investors will be fully exposed to the index’s decline from its initial level
|
| Initial level: | 3,811.15
|
| Coupon threshold: | 2,858.363, 75% of initial level
|
| Downside threshold: | 2,858.363, 75% of initial level
|
| Pricing date: | Feb. 26
|
| Settlement date: | March 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Dealer: | Morgan Stanley Wealth Management
|
| Fees: | 3.5%
|
| Cusip: | 17328YWM2
|
© 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.
