By Kiku Steinfeld
Chicago, Sept. 9 – Citigroup Global Markets Holdings Inc. priced $2.08 million of autocallable contingent coupon equity-linked securities due July 7, 2022 linked to PayPal Holdings, Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above its 79% coupon barrier on the review date for that quarter, plus any previously unpaid coupon.
The notes will be called at par if the stock closes at or above its initial level on any quarterly review date.
The payout at maturity will be par unless the stock finishes below its 79% barrier level, in which case investors will be fully exposed to the stock’s decline, payable in shares or in cash at the option of the issuer.
The notes are guaranteed by Citigroup Global Markets Inc.
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 equity-linked securities
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| Underlying stock: | PayPal Holdings, Inc.
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| Amount: | $2,083,000
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| Maturity: | July 7, 2022
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| Coupon: | 8% annualized, payable quarterly if stock closes at or above 79% coupon barrier on review date for that quarter, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | Par unless stock finishes below 79% barrier level, in which case 3.41577 shares
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| Call option: | At par if stock closes at or above its initial level on any quarterly review date
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| Initial level: | $292.76
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| Barrier level: | $231.28, 79% of initial level
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| Pricing date: | June 29
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| Settlement date: | July 7
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1%
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| Cusip: | 17328NUG1
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