By Wendy Van Sickle
Columbus, Ohio, May 25 – Citigroup Global Markets Holdings Inc. priced $2.69 million of autocallable contingent coupon equity-linked securities due May 25, 2018 linked to the common stock of American Airlines Group 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 annualized rate of 12% if American Airlines stock closes at or above the barrier price, 80% of the initial price, on the valuation date for that quarter.
The notes will be automatically called at par plus the contingent coupon if American Airlines shares close at or above the initial share price on any valuation date.
If the notes are not called and the final share price is greater than or equal to the barrier price, the payout at maturity will be par plus the contingent coupon. Otherwise, investors will be fully exposed to the decline in the shares.
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: | American Airlines Group Inc.
|
Amount: | $2.69 million
|
Maturity: | May 25, 2018
|
Coupon: | 12% per year, payable quarterly if closing price of American Airlines shares is greater than or equal to barrier price on valuation date for that quarter
|
Price: | Par
|
Payout at maturity: | Par unless American Airlines shares finish below barrier price, in which case full exposure to shares’ decline
|
Call: | At par plus contingent coupon if closing share price is greater than or equal to initial share price on any quarterly valuation date
|
Initial share price: | $46.21
|
Barrier price: | $36.968, 80% of initial share price
|
Pricing date: | May 22
|
Settlement date: | May 25
|
Underwriter: | Citigroup Global Markets Inc.
|
Fees: | 1%
|
Cusip: | 17324XBV1
|
|
© 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.