By Taylor Fox
New York, March 17 – Citigroup Global Markets Holdings Inc. priced $2.13 million of autocallable contingent coupon equity-linked securities due June 9, 2022 linked to the stock of Intel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Citigroup Inc.
The notes will pay a contingent monthly coupon at an annual rate of 8.25% if the stock closes at or above the coupon barrier price, 65% of the initial price, on the valuation date for that period.
The notes will be automatically called at par plus the coupon if the stock closes at or above its initial price on any monthly valuation date after six months.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the stock closes below the knock-in price, 65% of the initial share price, during the life of the notes and finishes below the initial share price, in which case investors will receive a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent of those 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: | Intel Corp.
|
| Amount: | $2,134,000
|
| Maturity: | June 9, 2022
|
| Coupon: | 8.25% annualized rate, payable monthly if stock closes at or above coupon barrier price on valuation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par plus final coupon unless stock closes below knock-in price during life of notes and finishes below initial share price, in which case number of shares equal to par divided by initial share price or, at issuer’s option, cash equivalent
|
| Call: | Automatically at par plus coupon if stock closes at or above initial level on any monthly valuation date after six months
|
| Initial level: | $60.74
|
| Coupon barrier price: | $39.481, 65% of initial levels
|
| Barrier price: | $39.481, 65% of initial levels
|
| Pricing date: | March 5
|
| Settlement date: | March 10
|
| Underwriter: | Citigroup Global Markets Inc.
|
| Fees: | 2.25%
|
| Cusip: | 17328NFV5
|
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