By William Gullotti
Buffalo, N.Y., Feb. 9 – Citigroup Global Markets Holdings Inc. priced $10 million of airbag autocallable contingent yield notes with memory coupon feature due Jan. 28, 2025 linked to the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Interest will be payable monthly at an annualized rate of 18.2% if the ETF closes at or above its coupon barrier, 85% of the initial level, on the related observation date. Previously unpaid interest, if any, will be automatically included whenever a payment is made.
The notes will be called automatically at par plus the coupon if the shares close at or above the initial share price on any monthly observation date.
The payout at maturity will be par plus the final coupon unless the final share price is less than the conversion price, 85% of the initial share price, in which case the payout will be a number of shares equal to $1,000 divided by the conversion price.
Citigroup Global Markets Inc. and UBS Financial Services Inc. are the agents.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Airbag autocallable contingent yield notes with memory coupon feature
|
| Underlying ETF: | SPDR S&P Biotech ETF
|
| Amount: | $10 million
|
| Maturity: | Jan. 28, 2025
|
| Coupon: | 18.2%, payable monthly if ETF closes at or above coupon barrier on related observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless final share price is less than conversion price, in which case 13.21702 shares per note
|
| Call: | Automatically at par plus coupon if the shares close at or above initial share price on any monthly observation date
|
| Initial share price: | $89.01
|
| Coupon barrier: | $75.66; 85% of initial share price
|
| Conversion price: | $75.66; 85% of initial share price
|
| Strike date: | Jan. 22
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 26
|
| Agents: | Citigroup Global Markets Inc. and UBS Financial Services Inc.
|
| Fees: | 0.1%
|
| Cusip: | 17331N764
|
|
|
© 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.
