Chicago, May 19 – Citigroup Global Markets Holdings Inc. priced $2.87 million of autocallable contingent coupon equity-linked securities due April 22, 2022 linked to the worst performing of the Invesco QQQ Trust, series 1 and the SPDR S&P 500 ETF Trust, 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 7% if each underlying fund closes at or above the coupon barrier level, 80% of the initial level, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each underlying fund closes at or above its initial level, on any quarterly valuation date.
If the notes are not called and each underlying fund finishes at or above final barrier level, 80% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the downside of the worst performer, payable in shares of the worse performer or cash at the issuer’s option.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Autocallable contingent coupon equity-linked securities
|
| Underlying funds: | Invesco QQQ Trust, series 1 and the SPDR S&P 500 ETF Trust
|
| Amount: | $2,869,000
|
| Maturity: | April 22, 2022
|
| Coupon: | 7% annualized rate, payable quarterly if each underlying closes at or above coupon barrier level, on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus contingent coupon if each underlying closes at or above final barrier; otherwise, investors will be fully exposed to the downside of the worst performer, payable either in shares or cash at the issuer’s option
|
| Call: | Automatically at par plus coupon if each underlying closes at or above initial level on any quarterly valuation date
|
| Initial levels: | $338.88 for QQQ, $415.21 for S&P Trust
|
| Coupon barrier levels: | $271.104 for QQQ, $332.168 for S&P Trust; 80% of initial levels
|
| Final buffer levels: | $271.104 for QQQ, $332.168 for S&P Trust; 80% of initial levels
|
| Pricing date: | April 19
|
| Settlement date: | April 22
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1%
|
| Cusip: | 17328NPW2
|
© 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.
