Chicago, March 28 – Citigroup Global Markets Holdings Inc. is issuing €375 million of 1% guaranteed cash-settled exchangeable bonds due April 9, 2029 referrable to the ordinary shares of LVMH Moet Hennessy Louis Vuitton, according to a press release.
The minimum €375 million size may be expanded to €400 million.
The bonds are being issued at prices between 102.7 and 103.7 and will be redeemed at par on the maturity date.
The exchange price represents a 25% premium, to be announced on April 3. The premium will be over the three-day daily volume weighted average price starting March 28.
Exchange rights will be cash-settled only.
The bonds are guaranteed by parent Citigroup Inc.
Citigroup Global Markets Ltd., Citigroup Global Markets Europe AG and Citigroup Global Markets Inc. are acting as joint global coordinators and joint bookrunners for the Rule 144A and Regulation S distributed deal.
The listing will be in Frankfurt.
Based in New York, Citigroup is a multinational investment bank. LVMH is a Paris-based French luxury conglomerate.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Underlying stock: | LVMH Moet Hennessy Louis Vuitton
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| Amount: | €375 million
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| Greenshoe: | €25 million
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| Issue: | Cash-settled exchangeable bonds
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| Maturity: | April 9, 2029
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| Bookrunners: | Citigroup Global Markets Ltd., Citigroup Global Markets Europe AG and Citigroup Global Markets Inc.
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| Coupon: | 1%
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| Price: | 102.7 to 103.7
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| Conversion premium: | 25%
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| Announcement date: | March 27
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| Settlement date: | April 5
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| Distribution: | Rule 144A and Regulation S
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| Stock symbol: | Euronext Paris: MC
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| Stock price: | Three-day volume weighted average price starting March 28
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| Market capitalization: | €451.73 billion
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