By Sarah Lizee
Olympia, Wash., March 6 – Citigroup Global Markets Holdings Inc. priced $2.39 million of autocallable contingent coupon equity-linked securities due March 2, 2023 linked to the least performing of the common stocks of Slack Technologies, Inc. and Wayfair Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at the rate of 6.825% per year if the least-performing stock closes at or above its coupon barrier value, 50% of its initial share price, on the valuation date for that quarter.
After six months, the notes will be automatically called at par if the least-performing stock closes at or above its initial price on any quarterly valuation date other than the final one.
The payout at maturity will be par unless the least-performing stock finishes below its final barrier value, 50% of its initial share price, in which case investors will be fully exposed to the decline of the least-performing stock.
The notes are guaranteed by Citigroup Inc.
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: | Slack Technologies, Inc. and Wayfair Inc.
|
| Amount: | $2,389,000
|
| Maturity: | March 2, 2023
|
| Coupon: | 6.825% per year, payable quarterly if least-performing stock closes at or above coupon barrier value on valuation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless least-performing stock finishes below final barrier value, in which case investors will be fully exposed to the decline of the least-performing stock
|
| Call: | After six months, the notes will be automatically called at par if the least-performing stock closes at or above its initial price on any quarterly valuation date other than the final one
|
| Initial share prices: | $26.61 for Slack, $71.15 for Wayfair
|
| Coupon barriers: | $13.305 for Slack, $35.575 for Wayfair, or 50% of initial share prices
|
| Barrier values: | $13.305 for Slack, $35.575 for Wayfair, or 50% of initial share prices
|
| Pricing date: | Feb. 27
|
| Settlement date: | March 3
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 3.5%
|
| Cusip: | 17328VCG3
|
|
|
© 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.
