Published on 6/26/2015 in the Prospect News Structured Products Daily.
New Issue: Citigroup prices $2.63 million contingent coupon autocallables linked to Euro Stoxx 50
By Angela McDaniels
Tacoma, Wash., June 26 – Citigroup Inc. priced $2.63 million of autocallable contingent coupon equity-linked securities due June 29, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at an annualized rate of 5% if the index closes at or above its barrier level, 80% of its initial level, on the valuation date for that quarter.
Beginning June 24, 2016, the notes will be automatically called at par plus the contingent coupon if the index closes at or above its initial level on any semiannual valuation date.
If the final index level is greater than or equal to the barrier level, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the index’s decline.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying index: | Euro Stoxx 50
|
| Amount: | $2,625,000
|
| Maturity: | June 29, 2020
|
| Coupon: | Each quarter, notes pay contingent coupon at annualized rate of 5% if index closes at or above barrier level on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If final index level is greater than or equal to barrier level, par plus contingent coupon; otherwise, full exposure to decline of index
|
| Call: | Automatically at par plus contingent coupon if index closes at or above initial level on any semiannual valuation date from June 24, 2016 onward
|
| Initial level: | 3,610.95
|
| Barrier level: | 2,888.76, 80% of initial level
|
| Pricing date: | June 24
|
| Settlement date: | June 29
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17298CCB2
|
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