By Kiku Steinfeld
Chicago, Feb. 26 – Citigroup Global Markets Holdings Inc. priced $548,000 of autocallable contingent coupon equity-linked notes due Aug. 25, 2021 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
Each six months, the notes will pay a contingent coupon at a rate of 7% per year if the shares close at or above the coupon barrier, 80% of the initial share price, on the observation date for that period.
The notes will be automatically called at par plus the coupon if the shares close at or above the initial share price on any semiannual valuation date other than the final one.
If the notes are not called and the final share price is at or above the final barrier value, 80% of the initial share price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will receive a number of shares of the stock equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
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 notes
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| Underlying stock: | JPMorgan Chase & Co.
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| Amount: | $548,000
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| Maturity: | Aug. 25, 2021
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| Contingent coupon: | 7%, payable semiannually if stock closes at or above coupon barrier level on related period
|
| Price: | Par
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| Payout at maturity: | Par plus final coupon unless stock finishes below final barrier value, in which case a number of shares equal to $1,000 divided by initial share price or, at issuer’s option, the cash equivalent
|
| Call: | Automatically at par plus coupon on any semiannual valuation date other than final one
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| Initial price: | $137.49
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| Coupon barrier: | $109.992, 80% of initial price
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| Final barrier: | $109.992, 80% of initial price
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| Pricing date: | Feb. 20
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| Settlement date: | Feb. 25
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| Underwriter: | Citigroup Global Markets Inc.
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| Fees: | 1.25%
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| Cusip: | 17324XXM7
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