By Sarah Lizee
Olympia, Wash., Oct. 2 – Citigroup Global Markets Holdings Inc. priced $560,000 of callable contingent coupon notes due Sept. 30, 2021 linked to the common stock of Teradata Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes pay a contingent coupon at an annual rate of 10.4% if Teradata stock closes at or above its barrier level, 65% of its initial share price, on the observation date for that quarter.
Beginning in March 2020, the notes are callable at par on any coupon payment date.
The payout at maturity will be par unless the stock return is less than negative 35%, in which case investors will lose 1% for every 1% that the share price declines from its initial price.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
|
| Issue: | Callable contingent coupon notes
|
| Underlying stock: | Teradata Corp.
|
| Amount: | $560,000
|
| Maturity: | Sept. 30, 2021
|
| Coupon: | 10.4%, payable quarterly if Teradata stock closes at or above barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless stock return is less than negative 35%, in which case 1% loss for every 1% that share price declines
|
| Call option: | Beginning in March 2020, notes are callable at par on any coupon payment date
|
| Initial share price: | $30.89
|
| Barrier level: | $20.079; 65% of initial level
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 1.75%
|
| Cusip: | 17324XTS9
|
|
|
© 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.
