By Kiku Steinfeld
Chicago, April 21 – Citigroup Global Markets Holdings Inc. priced $390,000 of autocallable contingent coupon equity-linked securities due April 8, 2024 linked to the worst performing of the stocks of Papa John's International, Inc., Restaurant Brands International Inc. and Starbucks Corp., 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 10.85% if each stock closes at or above its coupon barrier price, 60% of its initial share price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if each stock closes at or above its initial share price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above its final barrier price, 60% of its initial share price, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer, payable in shares 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 stocks: | Papa John's International, Inc., Restaurant Brands International Inc. and Starbucks Corp.
|
Amount: | $390,000
|
Maturity: | April 8, 2024
|
Coupon: | 10.85% annualized rate, payable quarterly if each stock closes at or above coupon barrier price on valuation date for that period
|
Price: | Par
|
Payout at maturity: | Par plus contingent coupon if each stock closes at or above final barrier price; otherwise, full exposure to losses of worst performer, payable in either shares or cash at the issuer’s option
|
Call: | Automatically at par plus coupon if each stock closes at or above initial level on any quarterly valuation date
|
Initial share prices: | $86.71 for Papa John's, $65.61 for Restaurant Brands and $110.27 for Starbucks
|
Coupon barrier prices: | $52.026 for Papa John's, $39.366 for Restaurant Brands and $66.162 for Starbucks; 60% of initial share prices
|
Final barrier prices: | $52.026 for Papa John's, $39.366 for Restaurant Brands and $66.162 for Starbucks; 60% of initial share prices
|
Equity ratios: | 11.53270 for Papa John's, 15.24158 for Restaurant Brands and 9.06865 for Starbucks
|
Pricing date: | March 30
|
Settlement date: | March 31
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 2.5%
|
Cusip: | 17328NNV6
|
|
© 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.