By Sarah Lizee
Olympia, Wash., Dec. 26 – Citigroup Global Markets Holdings Inc. priced $2.28 million of autocallable contingent coupon equity-linked securities due Dec. 22, 2023 linked to the lesser performing of the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.25% per year if the lesser-performing index closes at or above its knock-in value, 80% of its initial level, on the valuation date for that quarter.
Beginning in December 2020, the notes will be automatically called at par if the lesser-performing index closes at or above its initial level on any quarterly potential autocall date.
The payout at maturity will be par unless the lesser-performing index finishes below its knock-in value, in which case investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
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 indexes: | S&P 500 and Euro Stoxx 50
|
| Amount: | $2.28 million
|
| Maturity: | Dec. 22, 2023
|
| Coupon: | 6.25% per year, payable quarterly if lesser-performing index closes at or above knock-in value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless lesser-performing index finishes below knock-in value, in which case 1% loss for every 1% that lesser-performing index declines from initial level
|
| Call: | Beginning in December 2020, notes will be automatically called at par if lesser-performing index closes at or above initial level on any quarterly potential autocall date
|
| Initial levels: | 3,739.17 for Stoxx, 3,205.37 for S&P
|
| Knock-in value: | 2,991.336 for Stoxx, 2,564.296 for S&P, or 80% of initial levels
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2%
|
| Cusip: | 17327TA63
|
|
|
© 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.
