By Marisa Wong
Morgantown, W.Va., April 1 – Citigroup Global Markets Holdings Inc. priced $536,000 of autocallable phoenix securities due March 25, 2020 linked to the common stock of 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 25.1% if the stock closes at or above its 80% coupon barrier on the related quarterly observation date.
The notes will be called at par plus the contingent coupon if the stock closes at or above its initial price on any quarterly valuation date.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock finishes below the 80% barrier, in which case investors will be fully exposed to the share price decline.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable phoenix securities
|
| Underlying stock: | Wynn Resorts, Ltd. (Symbol: WYNN)
|
| Amount: | $536,000
|
| Maturity: | March 25, 2020
|
| Coupon: | 25.1% annualized, payable each quarter that stock closes at or above coupon barrier on determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par plus the final coupon unless the stock finishes below final barrier, in which case full exposure to losses
|
| Call: | At par plus contingent coupon if stock closes at or above initial price on any quarterly valuation date
|
| Initial share price: | $119.59
|
| Coupon barrier: | $95.672, 80% of initial price
|
| Final barrier: | $95.672, 80% of initial price
|
| Final price: | Average of closing share prices on five trading days ending March 20, 2020
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17326YQJ8
|
|
|
© 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.
