By Wendy Van Sickle
Columbus, Ohio, April 4 – Citigroup Global Markets Holdings Inc. sold $9.68 million of market-linked securities – autocallable with contingent coupon and contingent downside due March 29, 2027 linked to the Technology Select Sector SPDR fund, the Energy Select Sector SPDR fund and the Health Care Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly interest payment at the rate of 10.5% per year if each fund closes at or above the coupon barrier level, 70% of the initial level, on the observation date for that period.
The notes will be automatically called at par plus coupon if each fund closes at or above initial levels on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each fund finishes at or above its 70% threshold level.
Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Market-linked securities – autocallable with contingent coupon and contingent downside
|
| Underlying funds: | Energy Select Sector SPDR fund, Health Care Select Sector SPDR fund, Technology Select Sector SPDR fund
|
| Amount: | $9,675,000
|
| Maturity: | March 29, 2027
|
| Coupon: | 10.5% annual rate, payable quarterly if all funds close at or above their coupon barrier levels on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon if each fund finishes at or above threshold level; otherwise, full exposure to decline of worst performer from initial level
|
| Call: | Automatically at par plus coupon if each fund closes at or above initial level on any quarterly observation date after six months
|
| Initial levels: | $94.41 for Energy, $147.73 for Health Care, $208.27 for Technology
|
| Coupon barriers: | $66.087 for Energy, $103.411 for Health Care, $145.789 for Technology; 70% of initial levels
|
| Threshold levels: | $66.087 for Energy, $103.411 for Health Care, $145.789 for Technology; 70% of initial levels
|
| Pricing date: | March 28
|
| Settlement date: | April 2
|
| Agents: | Citigroup Global Markets Inc. and Wells Fargo Securities, LLC
|
| Fees: | 2.325%
|
| Cusip: | 17291LUH6
|
|
|
|
|
© 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.
