New Issue: Citi sells $136,000 callable contingent coupon equity notes on three indexes

By William Gullotti

Buffalo, N.Y., July 25 – Citigroup Global Markets Holdings Inc. priced $136,000 of callable contingent coupon equity-linked securities due July 1, 2027 linked to the worst performing of the S&P 500 Dynamic Participation index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Citigroup Inc.

The notes pay a contingent quarterly coupon at an annualized rate of 10.5% if each index closes at or above its coupon barrier level, 70% of its initial level, on the valuation date for that period.

The notes will be callable in whole at par plus any coupon due on any quarterly call valuation date after one year.

If the notes are not redeemed early, the payout will be par plus the final coupon if each index finishes at or above its coupon barrier.

If the worst performer finishes below its coupon barrier but at or above 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.

Citigroup Global Markets Inc. is the underwriter.

Issuer:	Citigroup Global Markets Holdings Inc.
Guarantor:	Citigroup Inc.
Issue:	Callable contingent coupon equity-linked securities
Underlying indexes:	Russell 2000 index, Dow Jones industrial average, S&P 500 Dynamic Participation index
Amount:	$136,000
Maturity:	July 1, 2027
Contingent coupon:	10.5% per year, payable quarterly if each index closes at or above coupon barrier on the valuation date for that period
Price:	Par
Payout at maturity:	If all indexes finish at or above coupon barrier, par plus final coupon; if worst performer finishes below coupon barrier but at or above final barrier, par; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
Call option:	In whole at par plus any coupon due on any quarterly call valuation date after one year
Initial levels:	31,438.26 for Dow, 584.46 for S&P Dynamic, 1,771.742 for Russell
Coupon barrier levels:	22,006.782 for Dow, 409.122 for S&P Dynamic, 1,240.219 for Russell; 70% of initial levels
Barrier levels:	18,862.956 for Dow, 350.676 for S&P Dynamic, 1,063.045 for Russell; 60% of initial levels
Pricing date:	June 27
Settlement date:	June 30
Underwriter:	Citigroup Global Markets Inc.
Fees:	3.75%
Cusip:	17330PAL3

© 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.