By Susanna Moon
Chicago, Nov. 1 – Citigroup Global Markets Holdings Inc. priced $3.9 million of autocallable contingent coupon equity-linked securities due Oct. 31, 2018 linked to Amazon.com, Inc. common shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent quarterly coupon at an annual rate of 8.25% if Amazon stock closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that quarter.
The notes will be called at par plus the contingent coupon if Amazon shares close at or above its initial level on any quarterly valuation date beginning Oct. 26, 2017 other than the final date.
The payout at maturity will be par plus the contingent coupon unless the stock finishes below the 80% barrier level, in which case investors will be fully exposed to any losses.
Citigroup Global Markets Inc. is the underwriter.
Issuer: | Citigroup Global Markets Holdings Inc.
|
Guarantor: | Citigroup Inc.
|
Issue: | Autocallable contingent coupon equity-linked securities
|
Underlying stock: | Amazon.com, Inc. (Nasdaq: AMZN)
|
Amount: | $3,898,000
|
Maturity: | Oct. 31, 2018
|
Coupon: | 8.25% per year, payable quarterly if Amazon shares close at or above 80% coupon barrier on valuation date for that quarter
|
Price: | Par
|
Payout at maturity: | If stock closes at or above barrier level, par; otherwise, full exposure to any losses
|
Call: | At par plus contingent coupon if Amazon shares close at or above initial share price on any quarterly valuation date beginning Oct. 26, 2017 other than the final date
|
Initial share price: | $822.59
|
Barrier level: | $658.072, 80% of initial share price
|
Pricing date: | Oct. 26
|
Settlement date: | Oct. 31
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 1.5%
|
Cusip: | 17324CBH8
|
|
|
© 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.