By Taylor Fox
New York, Aug. 25 – Citigroup Global Markets Holdings Inc. priced $585,000 of autocallable contingent coupon equity-linked securities due Aug. 22, 2023 linked to the worst performing of the stocks of DocuSign, Inc. and Splunk Inc., 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 13.75% if each stock closes at or above the coupon barrier price, 70% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the coupon if each stock closes at or above 85% of its initial price on any quarterly valuation date.
If the notes are not called and each stock finishes at or above final barrier price, 70% of its initial level, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the losses of the worst performer.
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: | DocuSign, Inc. and Splunk Inc.
|
Amount: | $585,000
|
Maturity: | Aug. 22, 2023
|
Coupon: | 13.75% 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; otherwise, full exposure to losses of worst performer
|
Call: | Automatically at par plus coupon if each stock closes at or above autocall barrier level on any quarterly valuation date
|
Initial levels: | $254.98 for DocuSign and $170.50 for Splunk
|
Coupon barrier levels: | $178.486 for DocuSign and $119.35 for Splunk, 70% of initial levels
|
Final barrier levels: | $178.486 for DocuSign and $119.35 for Splunk, 70% of initial levels
|
Autocall barrier levels: | $216.733 for DocuSign and $144.925 for Splunk, 85% of initial levels
|
Pricing date: | Feb. 17
|
Settlement date: | Feb. 22
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 3.25%
|
Cusip: | 17328YVK7
|
© 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.