By Cady Vishniac
Detroit, Jan. 5 – Citigroup Global Markets Holdings Inc. priced $412,000 of autocallable contingent coupon equity-linked securities due Dec. 27, 2022 linked to the lesser performing of the S&P 500 index and the VanEck Vectors Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a monthly coupon at an annual rate of 8% per year if the lesser-performing asset finishes at or above its coupon barrier value, 80% of its initial value, on any monthly valuation date.
The notes will be called if both assets close at or above their autocall barrier values, 95% of their initial values, on any quarterly valuation date after six months.
If both the assets finish at or above their final buffer values, 85% of their initial values, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for each 1% decline of the lesser-performing asset beyond 15%, but receive a coupon if the lesser-performing asset finishes at or above its coupon barrier value.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying assets: | S&P 500 index and VanEck Vectors Gold Miners ETF
|
| Amount: | $412,000
|
| Maturity: | Dec. 27, 2022
|
| Coupon: | 8% per year, payable monthly if both assets finish at or above the 80% coupon barrier value
|
| Price: | Par
|
| Payout at maturity: | If both assets finish at or above 85% final buffer values, par plus the coupon; otherwise, 1% loss for each 1% decline of the lesser-performing asset beyond 15%, plus a coupon if lesser-performing asset finishes at or above its coupon barrier value
|
| Call: | At par plus any coupon due if both assets finish at or above their 95% autocall barrier value on any quarterly valuation date after six months
|
| Initial values: | 3,694.92 for S&P and $36.35 for Gold
|
| Coupon barrier values: | 2,955.936 for S&P and $29.08 for Gold, 80% of initial values
|
| Autocall barrier values: | 3,510.174 for S&P and $34.533 for Gold, 95% of initial values
|
| Final buffer values: | 3,140.682 for S&P and $30.898 for Gold, 85% of initial values
|
| Pricing date: | Dec. 21
|
| Settlement date: | Dec. 24
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.5%
|
| Cusip: | 17328Y3G7
|
|
|
© 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.
