By Sarah Lizee
Olympia, Wash., Feb. 28 – Citigroup Global Markets Holdings Inc. priced $1.79 million of autocallable contingent coupon equity-linked securities due Aug. 25, 2022 linked to the stocks of Las Vegas Sands Corp. and Wynn Resorts, Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each stock closes at or above the coupon barrier price, 50% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above 88% of its initial price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above final barrier price, 50% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be exposed to the decline of the worst performer.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying stocks: | Las Vegas Sands Corp. and Wynn Resorts, Ltd.
|
| Amount: | $1.79 million
|
| Maturity: | Aug. 25, 2022
|
| Coupon: | 8.5% annualized rate, payable quarterly if each stock closes at or above coupon barrier price, on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier; otherwise, investors will be exposed to the decline of the worst performer
|
| Call: | Automatically at par plus coupon if each stock closes at or above 88% of initial level on any quarterly valuation date
|
| Initial share prices: | $65.60 for Las Vegas Sands, $127.95 for Wynn
|
| Call barrier prices: | $57.728 for Las Vegas Sands, $112.596 for Wynn, 88% of initial levels
|
| Coupon barrier prices: | $32.80 for Las Vegas Sands, $63.975 for Wynn, 50% of initial levels
|
| Final barrier values: | $32.80 for Las Vegas Sands, $63.975 for Wynn, 50% of initial levels
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3%
|
| Cusip: | 17327TX43
|
|
|
© 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.
