By Susanna Moon
Chicago, March 1 – Citigroup Global Markets Holdings Inc. priced $1.64 million of autocallable contingent coupon equity-linked securities due Feb. 28, 2019 tied to the worst performing of the common stocks of Valero Energy Corp., Bank of America Corp. and Nordstrom, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon of 9.75% per year if each stock closes above its 50% barrier on the observation date for that month.
The notes will be automatically redeemed at par plus interest if each stock closes at or above its initial price on any quarterly observation date beginning in May 2017.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below its 50% barrier level, in which case investors will be fully exposed to any losses of the worst performing stock.
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: | Valero Energy Corp. (Symbol: VLO), Bank of America Corp. (Symbol: BAC) and Nordstrom, Inc. (Symbol: JWN)
|
| Amount: | $1,643,000
|
| Maturity: | Feb. 28, 2019
|
| Coupon: | 9.75% per year, payable monthly if each stock closes at or above barrier price on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below barrier price, in which case a number of shares of the worst performing stock equal to $1,000 divided by the initial share price
|
| Call: | At par plus contingent coupon if each stock closes at or above its initial price on any quarterly observation date beginning in May 2017
|
| Initial levels: | $67.03 for Valero, $24.58 for Bank of America and $43.94 for Nordstrom
|
| Barrier levels: | $33.515 for Valero, $12.29 for Bank of America and $21.97 for Nordstrom; 50% of initial levels
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.35%
|
| Cusip: | 17324CEX0
|
|
|
|
|
© 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.
