Chicago, Jan. 23 – Citigroup Global Markets Holdings Inc. priced $1.49 million of autocallable contingent coupon notes due Jan. 23, 2020 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each quarter, the notes will pay a contingent coupon (and any unpaid contingent coupons) at the rate of 8% per year if the shares close at or above the coupon barrier, 75% of the initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the shares close at or above the initial share price on April 17, July 17 or Oct. 17.
If the notes are not called and the final share price is greater than or equal to the downside threshold level, 75% of the initial share price, the payout at maturity will be par plus the coupon, including any previously unpaid contingent coupons. Otherwise, investors will receive a fixed number of shares equal to the equity ratio, or at Citigroup’s election, the cash value of those shares.
Citigroup Global Markets Inc. is the underwriter.
| Issuer: | Citigroup Global Markets Holdings Inc.
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| Guarantor: | Citigroup Inc.
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| Issue: | Autocallable contingent coupon notes
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| Underlying stock: | Apple Inc.
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| Amount: | $1,486,000
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| Maturity: | Jan. 23, 2020
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| Contingent coupon: | 8%, payable quarterly if stock closes at or above coupon barrier level on related quarterly valuation date
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below downside threshold level, in which case 1% loss for each 1% decline from initial price
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| Call: | Automatically at par plus the coupon and any previously unpaid coupons on April 17, July 17 or Oct. 17
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| Initial price: | $155.86
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| Coupon barrier: | $116.895, 75% of initial price
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| Downside threshold: | $116.895, 75% of initial price
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| Pricing date: | Jan. 17
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| Settlement date: | Jan. 23
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| Agents: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17324XKY5
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