By Wendy Van Sickle
Columbus, Ohio, Oct. 18 – Citigroup Global Markets Holdings Inc. priced $1.58 million of autocallable contingent coupon equity-linked securities due Oct. 18, 2018 linked to the VanEck Vectors Junior Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annualized rate of 9% if the fund closes at or above the barrier price, 75% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if the ETF shares close at or above the initial share price on any quarterly valuation date other than the final one.
If the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will receive a number of ETF shares equal to $1,000 divided by the initial share price or, at the issuer’s option, an amount in cash equal to the value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying ETF: | VanEck Vectors Junior Gold Miners
|
| Amount: | $1,577,000
|
| Maturity: | Oct. 18, 2018
|
| Coupon: | 9% per year, payable quarterly if ETF closes at or above coupon barrier on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If ETF finishes at or above barrier price, par plus contingent coupon; otherwise, 28.88504 shares of the ETF
|
| Call: | At par plus contingent coupon if ETF closes at or above initial level on any quarterly valuation date
|
| Initial share price: | $34.62
|
| Barrier price: | $25.965; 75% of initial share prices
|
| Pricing date: | Oct. 13
|
| Settlement date: | Oct. 18
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.25%
|
| Cusip: | 17324XDG2
|
|
|
© 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.
